Do they need bank statements as in more than one, how many back bank statements will they want? You can also set aside money for burial in an irrevocable burial contract, that money does not count toward your 2K limit. Can anyone explain the nearly 100% voter turnout in Milwaukee? Nerve damage in upper and lower extremities. SSI does not check people's accounts every month, but they can require you to provide verification of your resources at ANY TIME they want to. When the SSA finds out they will figure out how many months you were over the resource limit, and they WILL have you pay them back (overpayment). I was just curious if SSI looked through your entire bank statement and read all transactions of debits credits and such, or do they just check for your balance? For the most part, banks don't give a crap as long as they are making profits from you. However, the bank told him he could deposit the check in my SSI account, because my name and his are on that account, for one day then he could pull the money out without me being there. You may also have to pay Medicaid back for medical services you received you were ineligible for. They don't per-say "monitor" them but when they choose to (and you won't know when), they'll run a report against your SSN# and if they see you had more income then you should to be qualified for SSI, you will then get a letter sent to you that you will owe them for the months you were not eligible or eligible for a lesser amount. Biden supporters: What do you think of people calling him a pedo & claiming certain pics & vids show him touching children inappropriately? Ask a lawyer - it's free! SSA will know about money you have in your bank account. Some states do not let anyone check your account unless they are authorized by you. Good luck!! Thank you for your time & help! Quote from: TheKB24 on April 03, 2017, 09:57:33 PM. Please use the pull down menu below to select a prescription drug. Eric. Do they go into your account themselves or just the statement you give them? People think they can hide resources away, but as long as your SS# is attached to it, the SSA will find out about it. i just want to know can they check when i deposit money in my back account. although the amount doesn't get "flagged" with social security UNLESS you have more than $1,999.99. Wed, 04/05/2017 - 15:49 Permalink. Don't even go over by $1.00. NOT AGAINST TRUMP, why did he tell his voters to not mail in ballet if could hurt his chances. The IRS also notifies the SSA for other types of income or resources such as BONDS or LIFE INSURANCE. However, they would still send you a letter letting you know that your account is being used for an investigation etc. Any extra money you have left or sell the other car is counted. I Just started receiving SSI. Does SSI monitor your bank account? Were you under age 26 as of your Established Onset Date? Other states do. Can I still get money from other sources? Wow that was close. Like credit cards? I was recently approved for SSI. Burial saving account is allowed as well to pay for the funeral. math please help I'm stuck!!!!!!!!!!!!!!? You can sign in to vote the answer. Login with username, password and session length. Login with username, password and session length. Once you hit $2000.00 bucks SSI is notified so always stay under the limit! They will not count it against you. I was just wondering if they knew about that. Social security . She has no savings and a lot of debt. The only way a bank would give out your bank info, is if they suspect you are breaking some kind of law or doing something illegal. What is the average life saving in the USA? Page created in 0.388 seconds with 22 queries. If you are not honest, they will find out about it. If this site has helped you in any way please make a donation towards the running of it by clicking below. If you combine your SSI payments in an account where you also put money held for someone else, the Social Security Administration considers all of the money in the account to be yours. Do they monitor your bank account? How do you think about the answers? If you social security number is connected to it, SSA will know about it. https://secure.ssa.gov/poms.nsf/lnx/0501130740, Quote from: TheKB24 on April 01, 2017, 09:31:27 PM, Quote from: Just Me on April 01, 2017, 09:47:30 PM, Quote from: TheKB24 on April 01, 2017, 10:17:42 PM, Quote from: TheKB24 on April 02, 2017, 07:38:45 PM. You will have 9 months to spend the back pay down before it is counted as a resource. Join Yahoo Answers and get 100 points today. So, I'd like to know, if my SSI account exceeds the $2,000 limit for just one day each month will that trigger any red flags? Visit our new Frequently Asked Questions (FAQs) section. If you don't tel SSA about income over $20 a month, when they find out you will have to pay back the SSI you received but were not eligible for. Always be honest with SSA about All of your income and resources and you won't have any problems. You will have periodic medical and financial reviews to see if you are still eligible for SSI. Yes, SSI knows your bank accounts and the balances. Since SSI is a … Yes I was 25. SSI back pay is paid in three installments, six months apart. they have no right to check your account, your bank should not be giving any information to anyone except for you. This will instantly take you to that post in our forum. Can Social Security know about prepaid cards? So how do I open an Able account? What happens is the IRS notifies the SSA when someone on SSI earns interest income. Am on SSI, and i want to know can SSI check the activity of withdraw or deposit. Page created in 0.376 seconds with 21 queries. That one dollar can make you ineligible for EVERY MONTH that you are over 2K, and you could be hit with a large overpayment. Get your answers by asking now. Then tell me how you don't suspect Democrat tampering.? I don't want to break the law. SSI is an income based program. Those banks were happy to be making profits from Saddam's deposits. How old are you? Not even Saddam's big, private banks gave a crap that he was killing innocent Iraqis and using his countrymen's funds for his own benefit. Please use the pull down menu below to select a prescription drug. i already know about you can't go over the limit of 2,000 dollars in you bank account. If you don't tel SSA about income over $20 a month, when they find out you will have to pay back the SSI you received but were not eligible for. I’m worried about her retirement. SSI does not check people's accounts every month, but they can require you to provide verification of your resources at ANY TIME they want to. I believe that it is illegal for the bank to give them your account details without consulting you and without your consent. Since SSI is a program that is based on need, you need to make sure you are below the resource limit. if so do they check the balance or all activity on that account? Yes, SSI knows your bank accounts and the balances. Submitted by Anonymous (not verified) on Sat, 04/01/2017 - 20:10. Does Social Security monitor your bank account? Does Social Security monitor your bank account? More. You will have to pay back the benefits you received you were ineligible for. No, it is not income if you don't spend it. Can Social Security know about prepaid cards? Why do people work so hard to make more money when they already have enough and they barely even spend what they have? This will instantly take you to that post in our forum. SSA uses computers to search by social security numbers. If this site has helped you in any way please make a donation towards the running of it by clicking below. It is called an IRS alert,and it Is legal. SSA will know about money you have in your bank account. Sometimes you are allowed to save more than 2K for certain types of work related goals, if you have work related goals look into the PASS program. Re: Do I Have to Spend My Entire SSI Check Every Month The resource limit is $2000 for a single SSI recipient so you can save money for emergencies up to that amount in an interest or non-interest bearing account. Degenerative Disc Disease, RA. They don't per-say "monitor" them but when they choose to (and you won't know when), they'll run a report against your SSN# and if they see you had more income then you should to be qualified for SSI, you will then get a letter sent to you that you will owe them for the months you were not eligible or eligible for a lesser amount. My mom only works a few months per year. SSI is an income based program. You will have periodic medical and financial reviews to see if you are still eligible for SSI. Visit our new Frequently Asked Questions (FAQs) section. You may lose your SSI and Medicaid. Will they find out? yes they can! What can I do? If your tell SSI that your a saving to get another car because you car is on the last leg. Still have questions? Rest of the world moves on as Trump won't concede, Georgia audit to trigger hand recount of presidential vote, Britney Spears will not perform again due to legal setback, Fox News host shuts down Graham's money plea, Jason Momoa: We were starving after 'GOT', Ex-cop in Breonna Taylor case accused of sex assault, Student debt cancellation in focus amid Biden transition, 'I'm not going to say that': Tebow wouldn't call this play, New 'Bachelorette' suitor tests positive for coronavirus, Pa. GOP plans 'extraordinary measures' to probe votes, CDC chief's handling of COVID-19 leaves agency in the balance. It may be a month down the road, or 5 years down the road, but the SSA WILL find out about it. Do they know of all your accounts? The thing is, I'm in credit card debt. Best options for me and my parents to invest on Vanguard?
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