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Although the original purpose for the number was for the Social Security Administration to track individuals, [1] the Social Security number has become a de facto national identification number for taxation and other purposes. [2] A Social Security number may be obtained by applying on Form SS-5, Application for a Social Security Number Card. [3]
The Social Security Trust Fund will be depleted by 2034, based on current law projections. Payments to beneficiaries thereafter will be limited to program tax receipts. Source: 2015 OASDI Trustees Report. U.S. Social Security Trust Fund: Payroll taxes and revenues add to the fund, while expenses (payouts) reduce it.
In July 2016, FinCEN enacted new rules regarding beneficial ownership: [2] Financial institutions must collect from the legal entity customer the name, date of birth, address, and social security number or other government identification number (passport number or other similar information in the case of foreign persons) for individuals who own ...
Social Security blog: This is the hub for Social Security news and updates, at ssa.gov. Frequently Asked Questions (FAQs) Retirement Application : One can complete and submit their online ...
The Social Security Administration (SSA) released its 2024 trustees report in mid-May, and here's what it says about the program's future. Person with a serious expression looking at a tablet ...
Creating an account is a quick and simple process. You have to be at least 18 years old to create a my Social Security account. To get started, first visit the my Social Security webpage, located ...
The social security account number issued to an individual for purposes of section 205(c)(2)(A) of the Social Security Act shall, except as shall otherwise be specified under regulations of the Secretary [of the Treasury or his delegate], be used as the identifying number for such individual for purposes of this title.
Social Security Number, Definition. A Social Security number is a unique nine-digit code that’s used to identify you and track your earnings over the course of your lifetime. These numbers were ...