Yes, all short-term visitors must return their TT Tokens in-person at designated Tokens return counters at checkpoints before leaving Singapore. More details on where to find the return counters can be found here.
Visitors who have collected their Tokens from checkpoints will have their S$50 deposit refunded upon return of the Tokens at the return counters set-up at checkpoints if:
(i) The Visitor had paid a deposit for the Token being returned;
(ii) The Visitor is returning a Token that belongs to him/her;
(iii) The Visitor is returning the Token in-person.