5 C.F.R. Subpart D—Transfers From Other Qualified Retirement Plans
Title 5 - Administrative Personnel
(a) A participant who is entitled to receive (or receives) an eligible rollover distribution, within the meaning of I.R.C. section 402(c)(4) (26 U.S.C. 402(c)(4)), from an eligible employer plan or a rollover contribution, within the meaning of I.R.C. section 408(d)(3) (26 U.S.C. 408(d)(3)), from a traditional IRA may cause to be transferred (or transfer) that distribution into his or her existing TSP account. This option is not available to participants who have already made a full withdrawal of their TSP account after separation from service or who are receiving monthly payments. (b) The only balances that the TSP will accept are balances that would otherwise be includible in gross income if the distribution were paid to the participant. The TSP will not accept any balances that have already been subjected to Federal income tax (after-tax monies) or balances from a uniformed services TSP account that will not be subject to Federal income tax (tax-exempt monies). [67 FR 17604, Apr. 11, 2002] (a) Trustee-to-trustee transfer. Participants may request that the administrator or trustee of their eligible retirement plan transfer any or all of their account directly to the TSP by executing and submitting a Form TSP-60 or TSP-U-60, Request for a Transfer Into the TSP, to the administrator or trustee. The administrator or trustee must complete the appropriate section of the form and forward the completed form and the distribution to the TSP record keeper. (b) Rollover by participant. Participants who have already received a distribution from an eligible retirement plan may roll over all or part of the distribution into the TSP in accordance with the following requirements: (1) The participant must complete Form TSP-60 or TSP-U-60, Request for a Transfer Into the TSP. (2) The administrator or trustee of the eligible retirement plan must certify on the Form TSP-60 or TSP-U-60 the amount and date of the distribution. (3) The participant must submit the completed Form TSP-60 or TSP-U-60, together with a certified check, cashier's check, cashier's draft, money order, treasurer's check from a credit union, or personal check, made out to the “Thrift Savings Plan,” for the entire amount of the rollover. A participant may roll over the full amount of the distribution by making up, from his or her own funds, the amount that was withheld from the distribution for the payment of Federal taxes. (4) The transaction must be completed within 60 days of the participant's receipt of the distribution from his or her eligible retirement plan. The transaction is not complete until the TSP record keeper receives the Form TSP–60 or TSP–U–60, executed by both the participant and administrator, trustee, or custodian, together with the guaranteed funds for the amount to be rolled over. (c) Participant's certification. When transferring a distribution to the TSP by either a trustee-to-trustee transfer or a rollover, the participant must certify that the distribution is eligible for transfer into the TSP, as follows: (1) Distribution from an eligible employer plan. The participant must certify that the distribution: (i) Is not one of a series of substantially equal periodic payments made over the life expectancy of the participant (or the joint lives of the participant and designated beneficiary, if applicable) or for a period of 10 years or more; (ii) Is not a minimum distribution required by I.R.C. section 401(a)(9) (26 U.S.C. 401(a)(9)); (iii) Is not a hardship distribution; (iv) Is not a plan loan that is deemed to be a taxable distribution because of default; (v) Is not a return of excess elective deferrals; and (vi) If not transferred or rolled over, would be includible in gross income for the tax year in which the distribution is paid. (2) Distribution from a traditional IRA. The participant must certify that the distribution: (i) Is not a minimum distribution required under I.R.C. section 401(a)(9) (26 U.S.C. 401(a)(9)); and (ii) If not transferred or rolled over, would be includible in gross income for the tax year in which the distribution is paid. [67 FR 17604, Apr. 11, 2002, as amended at 68 FR 35495, June 13, 2003] (a) All funds transferred to the TSP pursuant to §§1600.31 and 1600.32 will be treated as employee contributions. (b) All funds transferred to the TSP pursuant to §§1600.31 and 1600.32 will be invested in accordance with the participant's contribution allocation on file at the time the transfer is completed. (c) Funds transferred to the TSP pursuant to §§1600.31 and 1600.32 are not subject to the limits on contributions described in §1600.22.
Title 5: Administrative Personnel
PART 1600—EMPLOYEE CONTRIBUTION ELECTIONS AND CONTRIBUTION ALLOCATIONS
Subpart D—Transfers From Other Qualified Retirement Plans
§ 1600.31 Accounts eligible for transfer.
§ 1600.32 Methods for transferring eligible rollover distribution to TSP.
§ 1600.33 Treatment accorded transferred funds.
