Do you receive Supplemental Security Income (SSI)? If so, you need to tell us about any financial accounts you own, alone or with someone else. That’s because SSI is a needs-based program, and eligibility is determined by your resources as well as your income. Examples of financial accounts include:
Checking, savings, and credit union accounts.
Christmas club accounts.
Certificates of deposit, also known as CDs.
Stocks and U.S. savings bonds.
What you need to tell us:
You need to tell us about changes to your financial accounts or account balances to ensure you receive the correct SSI payment amount. Let us know if you:
Open a new account.
Close an account.
Add a joint owner to an existing account.
Increase your account balance over the SSI resource limit of:
$2,000 for an individual; $3,000 for a married couple living together and receiving SSI.
Achieving a Better Life Experience (ABLE) Accounts
ABLE programs allow people with disabilities to save money without losing important benefits, including SSI. We exclude ABLE accounts with balances less than $100,000 when determining SSI eligibility. To learn more about ABLE accounts, visit www.ssa.gov/ssi/spotlights/spot-able.html.
How to Report Changes to Your Financial Accounts
Call us toll-free at 1-800-772-1213 (TTY 1-800-325-0778), weekdays from 8:00 am to 7:00 pm
Contact your local Social Security office. You can find your local office at www.ssa.gov/locator.
Additional Information
For a complete list of SSI reporting responsibilities, please refer to the publication What You Need to Know When You Get SSI at www.ssa.gov/pubs/EN-05-11011.pdf.
Please share this information with those who need it.
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