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Thread: 20 percent holdback on loans/withdrawls

  1. Default 20 percent holdback on loans/withdrawls

    Trying to get any info on this subject. Have heard of this rule but looking for clarification. Any help appreciated. Thanks.


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  3. #2

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    Default Re: 20 percent holdback on loans/withdrawls

    In what context? A withdrawal or loan from your TSP account or something else?

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  5. Default Re: 20 percent holdback on loans/withdrawls

    Quote Originally Posted by evilanne View Post
    In what context? A withdrawal or loan from your TSP account or something else?
    Need to know. From TSP account regarding loan or withdrawal or both. Thanks.

    Sent from my LG-TP260 using Tapatalk

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  7. #4

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    Default Re: 20 percent holdback on loans/withdrawls

    If you're referring to federal and/or state income taxes withholding a loan or withdrawal, here's form TSP-70 and the tax information publication with tax tables.
    https://www.tsp.gov/PDF/formspubs/tsp-536.pdf
    https://www.tsp.gov/PDF/formspubs/tsp-70.pdf

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  9. Default Re: 20 percent holdback on loans/withdrawls

    Quote Originally Posted by RazorCat View Post
    If you're referring to federal and/or state income taxes withholding a loan or withdrawal, here's form TSP-70 and the tax information publication with tax tables.
    https://www.tsp.gov/PDF/formspubs/tsp-536.pdf
    https://www.tsp.gov/PDF/formspubs/tsp-70.pdf
    Thanks.

    Sent from my LG-TP260 using Tapatalk

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  11. #6

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    Default Re: 20 percent holdback on loans/withdrawls

    Glad to help.
    I keep it on file for quick reference.

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  13. #7

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    Default Re: 20 percent holdback on loans/withdrawls

    With a withdrawal, they withhold amount required by IRS based on the situation but no withholding if it is a trustee to trustee rollover to IRA or 401(K). The table at end of TSP 536 publication that RazorCat provided is helpful.

    There really isn't a holdback on loans but there are limits on the amount you can borrow based on the amount in your account and never more than $50K.

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  15. Default Re: 20 percent holdback on loans/withdrawls

    Quote Originally Posted by evilanne View Post
    With a withdrawal, they withhold amount required by IRS based on the situation but no withholding if it is a trustee to trustee rollover to IRA or 401(K). The table at end of TSP 536 publication that RazorCat provided is helpful.

    There really isn't a holdback on loans but there are limits on the amount you can borrow based on the amount in your account and never more than $50K.
    20 percent holdback on loans/withdrawls

    Sent from my LG-TP260 using Tapatalk

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