A TSP 20 form is used with Thrift Savings Plans (TSPs). A TSP is a special sort of retirement account reserved for only a portion of the population: federal employees, military members, and their family members. A TSP 20 form is better known as a Loan Application. You complete this form if you want to take out a loan against your TSP. You'll need to provide personal and financial information as well as how much you want to borrow, why you need to borrow it, and how long you think it will take for you to repay it.
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This form is related to Thrift Savings Plans, which are specialized financial plans used by federal employees, members of the military, and their family members. A TSP-20 form is known as a Loan Application. This form will be used to apply for a loan related to your civilian account or uniformed services account.
This form will require information about you and your loan request. Your personal information such as full name and social security number will be used to identify you. For the loan information, you need to include how much you want to borrow, what the loan will be used for, and how long it will take to repay. You will also need to include some information about your pay rate and schedule. This information will allow the loan company to determine if you are eligible for a financial loan.
A TSP-20 is commonly used by federal employers, members of the military, and their family members to request a loan related to their TSP accounts.
A TSP-20 contains the following sections:
To complete a TSP-20, you will need to provide the following information:
Note that your Loan Agreement, any related correspondence, and loan check will be sent to your TSP address on file. If you believe that your address is not up-to-date, you should update your TSP address of record before you apply for your loan.
