Do you have to tell SSI if you open a new bank account or will they automatically know?
I'm assuming they can just look it up and know, or that the computers they use will automatically tell them. Is this correct?
- JudithLv 72 months agoFavorite Answer
You do NOT have to tell SSI that you opened a new bank account until they do the yearly review. You DO have to tell them if you have resources of $2000 or more if single or $3000 if married. Failure to report that your resources are above the limit and failure to report changes in income and living arrangements is fraud.
There's a reason you are told to report changes - SS doesn't have a magic crystal ball to gaze into to find out if an SSI beneficiary has a change they are supposed to report. You get a benefit; you have certain responsibilities which come along with those benefits. It's up to you to find out what they are and to report changes in resources, income and living arrangements - like you are supposed to.
You are required to report changes within 10 days of the change to avoid any potential overpayment. THAT is why you report changes.
I was a SS claims rep for 32 yrs.
- ?Lv 52 months ago
Tell them .....