What s the purpose of Social Security s annual report of earnings form?
If you re older and have begun drawing Social Security checks, there s a limit to how much you can earn from a job and still collect full benefits. You must notify the Social Security Administration if you are working using the agency s Annual Report of Earnings form. Use it to estimate your earnings and then mail it back to the SSA. Based on your estimate, the agency will reduce the number of monthly checks you get the following year. If you earn less than you estimated, Social Security will send you a check for the amount of benefits you are owed. But if you earn more than expected, you ll have to pay back the excess.
