MakeMe$$$$'s FantasyTSP Account

[MakeMe$$$$]

When I got confirmation that Fidelity forwarded my paperwork to TSP for the roll over I considered moving to the G fund. My thoughts were that I was starting to feel some volatility working but nothing like we just went through. Clearly, I didn't see this big slide coming.

Volatility will probably reign for the next few days to weeks. If I get a nice bounce I may make the move to G. I would hate to take another big slide just before the account is dispersed.

[evilanne]

Have you checked your online TSP account under withdrawals to see if TSP has received it yet? When they post the message, it gives you few days to cancel your withdrawal, if you want to change your mind about the withdrawal. Once processed, the option to cancel will disappear and they will tell you when they will issue a check.

[MakeMe$$$$]

Have you checked your online TSP account under withdrawals to see if TSP has received it yet? When they post the message, it gives you few days to cancel your withdrawal, if you want to change your mind about the withdrawal. Once processed, the option to cancel will disappear and they will tell you when they will issue a check.

No information yet on if they received it. I don't know if Fidelity faxed or mailed the package to them so it could be a few more days before I hear anything. Thanks for the info.

[MakeMe$$$$]

Well...as of 2 weeks into the process...

1. Fidelity chose to snail mail my package to TSP instead of FAX. I called them 10 days after they sent the paperwork and they said they would FAX and contact TSP directly.

2. No indication that TSP has received and started processing 14 days after Fidelity received my paperwork. Now a long weekend arrives. LOL

3. A few days ago Fidelity tossed a minor curve ball. When we went full time RV living we sold our home and thus do not own any property. We became South Dakota residents thru use of a mail forwarding service. Our base address is often recognized by financial organizations as a commercial address and that complicates things at time. Fidelity has "closed" my roll over account pending proof of address. I've provided a copy of my Social Security statement and my OPM 1099-R with my SD address so I hope they get on the stick and do what they have to do to re-open my account. I need that done before TSP gives me the warning they have my paperwork in process.

Tactically I've moved from a 100% C position to a 50/50 C/G as of COB today. I lost about 8% YTD because of the correction but regained nearly 6% and today's futures look good. Since I can't control the date of dispersal and what happens between now and then I think it is time to back off a bit. If I wasn't rolling things over I wouldn't do anything different for now.

Hurry up and wait!

[evilanne]

Financial institutions can be as irritating as the Government & TSP at times and TSP will send a check by mail. You always have the short period you can cancel the withdrawal once TSP gets the paperwork...you just need to keep checking your TSP account under Withdrawals under Online Transactions. Suggest you explain your situation to Fidelity and let them know that you can cancel the transaction if they cannot resolve your account issue. I'm sure it probably all links back to some Government regulation--probably to make sure you aren't a criminal or a terrorist

[MakeMe$$$$]

Financial institutions can be as irritating as the Government...

NO KIDDING! LOL

OK...so the Patriot Act does allow nomadic folks like us to use a relative's address. The general understanding is that it is someone with the ability for direct contact. So, I'm waiting for my brother in law to send me a utility bill to provide to Fidelity proof of is address. Go figure how that stops money laundering.

[MakeMe$$$$]

As of now, my fantasy account will be following a daily strategy. Currently that is 12767 but could change.

My real account is currently 50/50 C&G as I await for TSP to disperse funds to my Fidelity Roll Over IRA. Once that gets done I will try to run my fantasy account on a daily strategy and share my outcomes with ya'll. I hope I will also provide some general updates on how well I have done compared to daily strategies.

That is all for now.

[MakeMe$$$$]

Well...

I'm out of TSP. Today was my last day so once the COB numbers come out, it is finished.

Now we see how long it takes for Fidelity to get my funds.

We finally got the official address issue sorted out. The Patriot Act can be a real PITA but it is what it is. I had to provide an address of a relative who was in direct contact with me. The funny part is that he is in IL that has income tax and I'm a SD resident that doesn't have income tax. So...when Fidelity provides end of year tax information to the IRS the will also send it to IL. Since I am not an IL resident I won't pay any tax and they won't withhold any but I'll still have to file IL state income tax.

I am resetting my fantasy account. I will run seasonal strategies to see if there is any value in comparing them to other strategies.

I plan to stick around because I do enjoy the opinions on investments and general fiscal issues. So...onward.

[evilanne]

Glad you are sticking around

If you don't have to pay any state tax, why do you have to file with IL?

[MakeMe$$$$]

Glad you are sticking around

If you don't have to pay any state tax, why do you have to file with IL?

Because Fidelity 1099 and other forms will now have my IL address and those will be reported to IL. Since I will not be an IL resident they won't get any tax money from me. That isn't really a big deal since Fidelity won't with hold any IL state tax anyway. Of course, that is only factor on years I take withdrawals. Still, that will require me to file in IL.

[mindofmush]

Will you still have to maintain the IL address after the TSP transfer is complete?

Will Fidelity accept your SD address for normal withdrawals? Doesn't the Patriot Act only affect money transfers over $10,000?

Scottrade/TD Ameritrade are now combined but each has banking facilities for their brokerage customers, does Fidelity have banking services adequate for your purposes?

Just a thought to eliminate the IL tax filing requirement.

[MakeMe$$$$]

Will you still have to maintain the IL address after the TSP transfer is complete?

Will Fidelity accept your SD address for normal withdrawals? Doesn't the Patriot Act only affect money transfers over $10,000?

Scottrade/TD Ameritrade are now combined but each has banking facilities for their brokerage customers, does Fidelity have banking services adequate for your purposes?

Just a thought to eliminate the IL tax filing requirement.

I was told that if I try to use my SD address (which is a mail service/commercial address) that my account would again be closed. I am planning on slowly bleeding down my roll over by transferring it to my other account. After the end of the year I will probably withdraw/transfer about $1K/mo which doesn't bust me into any new tax bracket. But...I'll see how things go before I put that plan into action.

The Patriot Act also comes into play when setting up a banking account. It is up to the financial institution to follow it. I've heard and talked to of a few folks that use the same mail forwarding service as a domicile not run into this with other financial institutions and just as many have the same issue. I assume audits are how compliance is monitored.

I'm not really worried about banking facilities. I would just transfer available cash to my checking account if/when needed. I have lots of cash reserves so waiting 2-3 days for a transfer isn't a big deal.

The following link covers how banks deal with the Patriot Act. If you look down to the section titled Customer Information Required and then put your mouse over footnote 47, you will see what they allow for folks like me with not physical address.

https://www.ffiec.gov/bsa_aml_infobase/ ... lm_011.htm

[mindofmush]

I guess that travelling around the country in a motor home is NOT part of the American Dream since you have to prove that you're not a terrorist. My dad was a motor home gypsy, retired Air Force and this would have bothered him intensely.

Well, good luck. This has been very instructive. (I think that I will start my TSP transfer a month earlier than I originally planned.)

[MakeMe$$$$]

DAMN!!!

My TSP *CHECK* (Why not ETF? ) has still not hit my Fidelity account. I'm missing some GREAT buying opportunities.

[MakeMe$$$$]

Another day without my money in Fidelity and missing some buying opportunities. LOL