[Code of Federal Regulations] [Title 5, Volume 3] [Revised as of January 1, 2001] From the U.S. Government Printing Office via GPO Access [CITE: 5CFR1601.6] [Page 184-185] TITLE 5--ADMINISTRATIVE PERSONNEL CHAPTER VI--FEDERAL RETIREMENT THRIFT INVESTMENT BOARD PART 1601--PARTICIPANTS' CHOICES OF INVESTMENT FUNDS--Table of Contents Subpart C--Interfund Transfers Sec. 1601.6 Timing and effective dates of interfund transfers. (a) Annual limit. A participant may have no more than twelve interfund transfers made effective during any calendar year, one in each calendar month. (b) Effective dates. Interfund transfer requests received by the TSP recordkeeper (whether by Form TSP-30 or on the ThriftLine) on or before the 15th day of a month (or, if the 15th day is not a business day, by the next business day) shall be effective as of the end of the month during which the interfund transfer request was received. Interfund transfer requests received by the TSP recordkeeper after the 15th day of a month (or, if applicable, by the next business day) will be effective as of the end of the month following the month during which the interfund transfer request was received. Account balances that are real- located among the investment funds effective as of the end of any month will reflect the effects of all other account activity posted to the account effective during or as of the end of that month. (c) Multiple interfund transfer requests. (1) If two or more properly completed interfund transfer requests with different dates (as determined by paragraph (c)(3) of this section) are received for the same participant after the 15th day of one month (or, if applicable, after the next business day), but on or before the 15th day of the next month (or, if applicable, the next business day), the interfund transfer request with the latest date (as determined by paragraph (c)(3) of this section) will be made effective and the earlier [[Page 185]] interfund transfer request(s) will be superseded. (2) If two or more properly completed interfund transfer requests with the same dates are received for the same participant after the 15th day of one month (or, if applicable, after the next business day), but on or before the 15th day of the next month (or, if applicable, the next business day), the following rules shall apply: (i) If one or more of the interfund transfer requests was submitted using the ThriftLine and one or more was made on Form TSP-30, the request(s) made on the ThriftLine will supersede the request(s) made on Form TSP-30; (ii) If more than one of the interfund transfer requests were made on the ThriftLine, the request entered at the latest time of day will supersede the earlier request(s); and (iii) If more than one of the interfund transfer requests were submitted using Form TSP-30, all such forms will be rejected, unless they all contain identical percentage allocations among the TSP investment funds, in which case one will be accepted. (3) For purposes of determining the date of an interfund transfer request: (i) The date of an interfund transfer request made on the ThriftLine is the date of its telephone entry; (ii) The date of an interfund transfer request made on Form TSP-30 is the signature date set forth on the form by the participant; and (iii) Central time will be used for determining the date on which a transaction is entered on the ThriftLine. (d) Cancellation of interfund transfer requests. Interfund transfer requests may be canceled either in writing or by entering the cancellation of the ThriftLine. (1) Cancellation by letter. A participant may cancel an interfund transfer request by submitting a letter to the TSP recordkeeper requesting cancellation. To be accepted, the cancellation letter must be signed and dated and must contain the participant's name, Social Security number, and date of birth. To be effective, the cancellation letter must be received on or before the 15th day of the month as of the end of which the interfund transfer is to be effective (or, if applicable, by the next business day). Unless the letter states unambiguously the specific interfund transfer request it seeks to cancel, the written cancellation will apply to any interfund transfer request with a date (as determined under paragraph (c)(3) of this section) before the date of the cancellation letter. If the date of a cancellation letter is the same as the date of an interfund transfer request and the request was made on Form TSP-30, the Form TSP-30 will be canceled; if the request was made on the ThriftLine it will only be canceled if the written cancellation specifies the date of the ThriftLine request to be canceled. (2) Cancellation on the ThriftLine. (i) An interfund transfer request may also be canceled by entering the cancellation on the ThriftLine on or before the 15th day of the month (or, if applicable, the next business day) as of the end of which the interfund transfer is to be effective. A cancellation entered on the ThriftLine will apply to a pending interfund transfer request entered on the ThriftLine before the entry of the cancellation. A cancellation entered on the ThriftLine can only apply to interfund transfer requests submitted on Forms TSP-30 that were: (A) Dated on or before the date of the cancellation; and (B) Received and entered into the TSP recordkeeping system before the cancellation is attempted on the ThriftLine. (ii) The Board cannot guarantee that the TSP recordkeeper will enter Forms TSP-30 into the TSP recordkeeping system before the 15th day of the month, regardless of the date the Form TSP-30 may have been received. Thus, participants cannot rely on the ThriftLine to cancel an interfund transfer request that was submitted on Form TSP-30, and participants are discouraged from attempting to do so. The Board is not responsible for any consequences of a participant's inability to cancel on the ThriftLine an interfund transfer request submitted on Form TSP- 30. [60 FR 36633, July 17, 1995]