Why It’s Important To Tell Us About Your Financial Accounts

Do you receive Supplemental Security Income (SSI)? If so, you need to tell us about any financial accounts you own, alone or jointly with someone else. You must also promptly inform us of any changes to those accounts to ensure you receive the correct payment amounts.

What You Need to Tell Us

You need to tell us about certain changes to your financial account or account balances. Let us know if you:

• Open a new financial account.
• Close a financial account.
• Add a joint owner to an existing account.
• Increase your account balance over the resource limit.

The SSI resource limit for an individual is $2,000 and for a married couple where both members live together the limit is $3,000.

It’s important to tell us about changes in your financial situation to ensure your benefit amount is correct.

Examples of Financial Accounts 

• Checking and savings accounts.
• Christmas club accounts.
• Certificates of deposit.
• Stocks and U.S. Savings Bonds.

Achieving a Better Life Experience (ABLE) Accounts

ABLE programs allow people with disabilities to save without losing access to important benefits. Savings in these funds will not be counted as resources by SSA when determining continued SSI eligibility.  To learn more about ABLE accounts, visit ABLE Programs Prepare for Expanded Eligibility.

How to Report Changes

Additional Information

For a complete list of SSI reporting responsibilities, please refer to the publication, What You Need to Know When You Get Supplemental Security Income.

Please share this information with those who need it.

Tags: General Information, SSI, supplemental security income

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