Form Tsp 1 C PDF Details

Form Tsp 1 C is a form used to report certain types of income and expenses to the IRS. This form is used to report income and expenses from self-employment activities, as well as income and expenses from rental activities. The form must be filed by those who have net earnings from self-employment of $400 or more, or those who have gross rental income of $1,000 or more. You can use Form Tsp 1 C to report any type of income or expense, including business income and losses, farming income and losses, royalty payments, taxable social security benefits, salaried wages, pension payments, and alimony payments. Be sure to read the instructions carefully before completing this form. Form Tsp 1 C is a form used by taxpayers in the United States to report certain types of income and expenses incurred during the tax year. This form is used to report self-employment earnings and rental property earnings/losses. The form must be completed by individuals that earn $400 or more from self-employmen

QuestionAnswer
Form NameForm Tsp 1 C
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namestsp 1 fillable, formtsp-1-c, tsp 1 form, tsp 1 c form fillable

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THRIFT SAVINGS PLAN

TSP-1-C

CATCH-UP CONTRIBUTION ELECTION

Use this form to start, stop, or change your election to make ‘‘catch-up’’ contributions to your TSP account. You are eligible to make catch-up contributions if you are age 50 or older (or if you will become age 50 during the calendar year for which you are making this election), and you are already contributing either the maximum TSP contribution percentage or a dollar amount which will result in reaching the IRS elective deferral limit by the end of the year. (See back of form.) Catch-up contributions will be taken from your basic pay each pay period; they are in addition to your regular TSP contributions.

Before completing this form, read the information on the back. Type or print all information. Return the completed form to your agency.

Note: Your catch-up contributions will be invested according to your most recent contribution allocation. (See instructions on the back.)

I.

 

 

 

 

 

 

 

 

 

 

 

 

INFORMATION

1.

 

 

 

 

 

 

 

 

 

 

 

ABOUT YOU

 

Name (Last)

 

 

 

(First)

 

 

 

(Middle)

 

 

 

 

 

 

 

 

 

 

 

 

 

2.

 

 

 

 

 

 

 

 

 

 

 

 

Street Address

 

 

 

City

 

State

 

Zip Code

 

 

 

 

 

 

 

 

3.

 

–

 

–

 

4. (

 

)

 

–

 

Social Security NumberDaytime Phone (Area Code and Number)

5.

Office Identification (Agency and Organization)

II.

START OR CHANGE YOUR CATCH-UP CONTRIBUTIONS

(You must be in pay status. See back of form.)

To start or change your catch-up contributions, complete Items 6, 7, and 8. Use a whole dollar amount. (See additional instructions on the back of the form.)

6.

I elect to contribute $

.00 per pay period. This election will continue until:

 

 

 

 

the end of the calendar year; or

I reach the annual limit for catch-up contributions; or

I submit a new election to stop or change these contributions.

I certify that I have already elected to make regular TSP contributions up to the maximum amount allowed by the IRS and TSP plan rules. I understand that my catch-up contributions are in addition to my regular TSP contributions.

7.

 

8.

/

/

 

Participant’s Signature

 

Date Signed (mm/dd/yyyy)

 

 

 

 

 

III.

STOP YOUR

CATCH-UP CONTRIBUTIONS

To stop your contributions, complete Items 9, 10, and 11.

9. I want to stop making catch-up contributions to my TSP account. I understand that I must make a new election to resume these contributions.

10.

 

11.

/

/

Participant’s SignatureDate Signed (mm/dd/yyyy)

IV.

FOR

12.

 

13.

/

/

 

14.

/

/

EMPLOYING

 

Payroll Office Number

 

Receipt Date (mm/dd/yyyy)

 

Effective Date (mm/dd/yyyy)

 

 

 

 

 

 

 

 

 

OFFICE USE

15.

 

 

 

 

 

 

 

 

ONLY

 

 

 

 

 

 

 

 

 

Signature of Agency Official

 

 

 

 

 

 

 

PRIVACY ACT NOTICE. We are authorized to request this information under

5 U.S.C. chapter 84. Executive Order 9397 authorizes us to ask for your Social Secu- rity number, which will be used to identify your account. We will use the information you provide on this form to process your TSP election. This information may be shared with other Federal agencies for statistical, auditing, or archiving purposes. In addition, we may share the information with law enforcement agencies investigating a violation

of civil or criminal law, or agencies implementing a statute, rule, or order. It may be shared with congressional offices, private sector audit firms, spouses, former spouses, and beneficiaries, and their attorneys. We may also disclose relevant portions of the information to appropriate parties engaged in litigation. You are not required by law to provide this information, but if you do not provide it, we will not be able to process your request.

ORIGINAL TO PERSONNEL FOLDER

 

Provide a copy to the employee and to the payroll office.

Form TSP-1-C (7/2005)

INFORMATION AND INSTRUCTIONS

GENERAL INFORMATION

Catch-up contributions are in addition to your regular TSP contributions. Therefore, if you are not already contributing the maximum amount allowed (according to TSP and/or IRS elective deferral limits) through your regular TSP contributions, you must elect to contribute the maximum amount before you are eligible to make catch-up contributions. This catch-up election will not affect your regular TSP contributions.

You may start, stop, or change your catch-up contributions at any time. Your election will stay in effect subject to the conditions in Section II below. You must make a new election for each calendar year.

You do not receive matching contributions from your agency for any catch-up contributions.

Your catch-up contribution election will be effective no later than the first full pay period after your agency receives it. Contributions will be invested according to your most recent contribution allocation. If you wish to change your contribution allocation, you may do so on the TSP Web site at www.tsp.gov, the ThriftLine at

1-877-968-3778 (outside the U.S. and Canada, call 404-233-4400), or Form TSP-50, Investment Allocation.

SECTION I

Complete all items in this section.

 

 

SECTION II

The IRS limits for catch-up contributions are $4,000 in 2005 and $5,000 in 2006. Thereafter, the amount will be

 

adjusted for inflation in increments of $500. Check the TSP Web site, www.tsp.gov, for updated information.

 

Deductions will be made from your basic pay in the dollar amount you indicate. However:

(1)Catch-up contributions will stop when you have reached the maximum allowable dollar amount for the calendar year.

(2)The catch-up contribution amount you specified cannot exceed the amount of your pay after all other required deductions have been made. (Required deductions include regular TSP contribu- tions and TSP loan payments.)

(3)Your catch-up contributions will not continue into the next calendar year.

 

You are not eligible to make catch-up contributions if you are in nonpay status or if you are ineligible to make

 

TSP contributions because you have made a financial hardship in-service withdrawal within the last 6 months.

 

If you have elected to make catch-up contributions and you subsequently enter a noncontribution period,

 

deductions will stop. Contributions will not restart automatically. You must make a new election when your

 

noncontribution period ends.

 

You may stop your catch-up contributions at any time by submitting a new Form TSP-1-C to your agency

 

indicating that you want your election to stop. (See Section III.)

 

You must sign this section or your request to start or change your catch-up contributions will be rejected.

 

 

SECTION III

If you choose to stop your catch-up contributions, you must complete and sign this section. Your election

 

should be effective the first pay period after your agency receives it. You can restart your catch-up contribu-

 

tions at any time, subject to the conditions above.

 

 

SECTION IV

In Item 13, enter the receipt date. This is the date that a properly completed form is received by the agency

 

personnel office. If the form has not been properly completed, it should be returned to the employee.

Form TSP-1-C (7/2005)

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