The easiest way to take a look at your Social Security Income Statement is to register for a my Social Security online account. You’ll find a variety of information available about the program and your current or future benefits without the hassle of visiting your local Social Security office or waiting in a telephone queue to speak to a representative.
Your Social Security Income Statement offers a summary of your work history to date and the financial implications of your earnings record. It also shows you possible benefits for which you and your family may be eligible, including retirement, disability and survivor’s benefits.
The Statement, also known as from SSA-1099 (or form SSA-1042S if you are a non-resident alien), is actually a tax form that the Social Security Administration (SSA) mails in January each year to people who currently receive Social Security benefits of some kind. The SSA will also mail paper statements to working Americans who are at least sixty-years-old three months before their birthday if they have not yet set up an online account.
Form SSA-1099 shows the total amount of money that you have received in Social Security benefits from the previous year so that you know how much Social Security income you will need to report on your income tax return.
Form SSA-1099 is not available for people who receive Supplemental Security Income (SSI) benefits. If you receive SSI benefits, you have reporting obligations to SSA because the program is needs-based, and you will no longer be eligible for benefits if your income exceeds specific yearly thresholds.
SSI beneficiaries must report wages or any other assistance or money that they, their spouses, or their children living in the same household receive. If you are a representative payee for someone receiving SSI benefits, the same rules apply. When it comes to assistance received, you need to tell SSA the type and amounts of assistance, how often payments are received, and when those payments begin, end, or change.
You may be confused by the fact that SSI beneficiaries must report earned wages to SSA because, in order to receive SSI benefits in the first place, you must meet SSA’s definition of disabled. But the SSA has developed a Ticket to Work program that allows SSI beneficiaries move toward financial independence by giving them resources to perform some kind of work and career development. The program provides SSI beneficiaries the support and services they need to succeed at a job, and it is free and voluntary for anyone who would like to take advantage of it.
What does SSA expect you to report? They expect information regarding whether you worked, how much you earned if you worked, when the work started, when the work ended (if applicable), and any changes to the amount you were paid. You need to report your wages regularly within six days of the end of the month in which you earned income. To assist you with reporting, save bank statements, pay stubs, and pay records to verify your earnings if you are asked for more information in the future.
How does SSA want you to report this income? You can bring pay stubs to your local SSA office or mail them, but if you choose to mail them, considering sending them via certified mail so that you can ensure your information is protected and that it arrives on time. The easiest and most convenient way to report is through SSA’s app or their website.
For anyone who works in the United States, regardless of whether you are receiving SSI benefits, you should get in the habit of checking your earnings record every year to make sure that your information has been reported accurately, and if there are problems, you can contact SSA to correct them immediately.