[Code of Federal Regulations]
[Title 5, Volume 3]
[Revised as of January 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 5CFR1655.17]

[Page 299-300]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
         CHAPTER VI--FEDERAL RETIREMENT THRIFT INVESTMENT BOARD
 
PART 1655_LOAN PROGRAM--Table of Contents
 
Sec. 1655.17  Prepayment.

    (a) A participant may repay a loan in full, without a penalty, at 
any time before the declaration of a taxable distribution under Sec. 
1655.15, unless the participant has separated from Government service 
and has submitted a

[[Page 300]]

signed statement that he or she has forfeited the right to repay the 
loan in full. Repayment in full means receipt by the TSP record keeper 
of a payment, by personal check or guaranteed funds made payable to the 
Thrift Savings Plan, of all principal and interest due on the loan.
    (b) If a participant returns a loan check to the TSP record keeper, 
it will be treated as a repayment; however, additional interest may be 
owed, which, if not paid, could result in a taxable distribution. The 
loan, even though repaid, will also be taken into account in determining 
the maximum amount available for future loans, in accordance with Sec. 
1655.6(b).
    (c) The amount outstanding on a loan can be obtained from the TSP 
Web site, the ThriftLine, or a TSPSO participant service representative, 
or by a written request to the TSP record keeper.