The Thrift Savings Plan recently issued information regarding 2019 fourth quarter statements as well as the IRS 1099-R form.
Fourth quarter account information for the Thrift Savings Plan
From now on, TSP participants will be able to find 4th quarter (October – December) TSP account information on their annual statement, which will be available the first week of February.
In the 3rd quarter statements and in the its recent e-newsletters, the TSP notified participants that they will no longer provide a separate statement with 4th quarter account information.
IRS Form 1099-R for the Thrift Savings Plan
The TSP has mailed IRS Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc., to participants who received a withdrawal up to December 27, 2019, and/or a taxable distribution of a loan up to December 31, 2019.
Participants should note that withdrawals processed on December 30 and 31 are taxable income for 2020.
Participants that have not received Form 1099-R by mid-February can print a copy from “My Account” area of the www.tsp.gov website. Corrected Forms 1099-R will be issued late February/early March. The TSP said participants who are are expecting a corrected Form 1099-R may wish to wait to file their taxes until the corrected form is received.