Verification of Social Security and Supplemental Security Income (SSI) Payments
Managers of affordable housing properties (e.g., Section 8, LIHTC, Section 515, etc.) often struggle with the verification of income from Social Security (SS) or SSI. While verification of such income is required, the Social Security Administration (SSA) has made it more difficult to obtain verification of the income. In fact, the SSA will no longer send income verifications to third parties – such as property managers – that request verification. And, since the gross benefit must be verified, using bank or debit card statements will not suffice, since those statements show “net” deposits – not gross. It is now up to the recipient of the benefit to request and obtain verification of benefits.
The best way to verify income from SS or SSI is with a “proof of income” letter. Benefit recipients may obtain these through their “My Social Security” account. These accounts must be established by the recipient using their own personal information and for their exclusive use. Property managers should not create or use an account on behalf of another person, even if they have been given written permission by that person to do so.
How to Create the Account
Managers may provide information to applicants or tenants to assist them in setting up the accounts. Following is the procedure that should be followed:
- Go to socialsecurity.gov;
- Click on “My Social Security;”
- Click on “Create an Account;”
To create an account, new users must have a valid email address, a Social Security number, a U.S. mailing address, and be at least 18 years old.
- Complete the online form.
Once the account is set up, a Benefit Verification Letter may be printed. The letter will be dated and will even verify if benefits are not received. Those who do not want or cannot create an online account may call 1-800-772-1213 Monday – Friday from 7 AM to 7 PM and a letter will be mailed to them within ten days.
When Benefits are Received
When calculating income from Social Security, especially after the annual Cost of Living Adjustment (COLA) has been announced, it is helpful to know when the benefits will be paid to the recipient.
Persons who received or applied for Social Security benefits on or before April 30, 1997, or those receiving both Social Security and SSI, will receive benefits on the third of the month. Those receiving only SSI will receive the benefit on the first of the month. People who applied for Social Security after April 30, 1997 will receive benefits based on their birthday.
- Those born on the 1st to the 10th of the month will receive the benefit on the second Wednesday;
- Those born on the 11th to the 20th of the month will receive the benefit on the third Wednesday; and
- Those born after the 20th of the month will receive the benefit on the fourth Wednesday of the month.
The only SS recipients still receiving paper checks are those who were over age 90 as of March 1, 2013. All others are paid either via direct deposit or a debit card (Express Pay Card).