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By: FEDweek StaffThe TSP has announced the following schedule for transactions as the year’s end approaches.
December 16 — December installment payments will be processed on December 16 as scheduled and will be reported to the IRS as 2024 income.
December 18 — Any 2024 RMD amounts for civilian, uniformed services, and beneficiary participants who have a remaining RMD balance will be processed on December 18. For income tax purposes, these payments will be reported to the IRS as income for 2024.
December 25 — Because Wednesday, December 25 is a federal holiday, the TSP will be closed. Transactions that would have been processed Wednesday night (December 25) will be processed Thursday night (December 26) at Thursday’s closing share prices.
December 27 — Withdrawals processed through December 27 will be disbursed and reported to the IRS as income for 2024.
December 30 — Withdrawals processed on December 30 will be reported to the IRS as income for 2025.
December 31 — Withdrawals processed on December 31 will be reported to the IRS as income for 2025.
January 1 — Because Wednesday, January 1 is a federal holiday, the TSP will be closed. Transactions that would have been processed Wednesday night (January 1) will be processed Thursday night (January 2) at Thursday’s closing share prices.
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See also,
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