[Code of Federal Regulations]
[Title 5, Volume 3]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 5CFR1600.32]

[Page 189]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
         CHAPTER VI--FEDERAL RETIREMENT THRIFT INVESTMENT BOARD
 
PART 1600_EMPLOYEE CONTRIBUTION ELECTIONS AND CONTRIBUTION ALLOCATIONS--Table 
 
        Subpart D_Transfers From Other Qualified Retirement Plans
 
Sec.  1600.32  Methods for transferring eligible rollover distribution to TSP.

    (a) Trustee-to-trustee transfer. Participants may request that the 
administrator or trustee of their eligible retirement plan transfer any 
or all of their account directly to the TSP by executing and submitting 
a Form TSP-60 or TSP-U-60, Request for a Transfer Into the TSP, to the 
administrator or trustee. The administrator or trustee must complete the 
appropriate section of the form and forward the completed form and the 
distribution to the TSP record keeper.
    (b) Rollover by participant. Participants who have already received 
a distribution from an eligible retirement plan may roll over all or 
part of the distribution into the TSP in accordance with the following 
requirements:
    (1) The participant must complete Form TSP-60 or TSP-U-60, Request 
for a Transfer Into the TSP.
    (2) The administrator or trustee of the eligible retirement plan 
must certify on the Form TSP-60 or TSP-U-60 the amount and date of the 
distribution.
    (3) The participant must submit the completed Form TSP-60 or TSP-U-
60, together with a certified check, cashier's check, cashier's draft, 
money order, treasurer's check from a credit union, or personal check, 
made out to the ``Thrift Savings Plan,'' for the entire amount of the 
rollover. A participant may roll over the full amount of the 
distribution by making up, from his or her own funds, the amount that 
was withheld from the distribution for the payment of Federal taxes.
    (4) The transaction must be completed within 60 days of the 
participant's receipt of the distribution from his or her eligible 
retirement plan. The transaction is not complete until the TSP record 
keeper receives the Form TSP-60 or TSP-U-60, executed by both the 
participant and administrator, trustee, or custodian, together with the 
guaranteed funds for the amount to be rolled over.
    (c) Participant's certification. When transferring a distribution to 
the TSP by either a trustee-to-trustee transfer or a rollover, the 
participant must certify that the distribution is eligible for transfer 
into the TSP, as follows:
    (1) Distribution from an eligible employer plan. The participant 
must certify that the distribution:
    (i) Is not one of a series of substantially equal periodic payments 
made over the life expectancy of the participant (or the joint lives of 
the participant and designated beneficiary, if applicable) or for a 
period of 10 years or more;
    (ii) Is not a minimum distribution required by I.R.C. section 
401(a)(9) (26 U.S.C. 401(a)(9));
    (iii) Is not a hardship distribution;
    (iv) Is not a plan loan that is deemed to be a taxable distribution 
because of default;
    (v) Is not a return of excess elective deferrals; and
    (vi) If not transferred or rolled over, would be includible in gross 
income for the tax year in which the distribution is paid.
    (2) Distribution from a traditional IRA. The participant must 
certify that the distribution:
    (i) Is not a minimum distribution required under I.R.C. section 
401(a)(9) (26 U.S.C. 401(a)(9)); and
    (ii) If not transferred or rolled over, would be includible in gross 
income for the tax year in which the distribution is paid.

[67 FR 17604, Apr. 11, 2002, as amended at 68 FR 35495, June 13, 2003]

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