HLP-ISBA061-AET4

If you expect to earn over $1,290 in every month or perform substantial services in self-employment every month of 2015 select "Yes."

Exception: If you will reach full retirement age in 2015 or already reached it in a prior year, select "Yes" only if you expect to earn over $3,450 in every month or perform substantial services in self-employment in every month of 2015.

"Substantial services in self-employment" means that you devote more than 45 hours a month to the business or between 15 and 45 hours to a business in a highly skilled occupation.

Why we ask this question

If you:

  • are under full retirement age next year, we will deduct $1 from your benefits for each $2 you earn above $15,480.

    Example: If you will earn $18,480 next year, we will withhold the first $1,500 in benefits. ($3,000/2 = $1,500)

  • will reach full retirement age next year, we will deduct $1 from your benefits for each $3 you earn above $41,400 until the month you reach full retirement age.

    Example: If you will earn $44,400 next year, we will withhold the first $1,000 in benefits. ($3,000/3 = $1,000)

Exception: If there are months when you do not expect to perform substantial services in self-employment or earn over $1,290 ($3,450 if you will reach full retirement age next year), we may still be able to pay benefits based on a special rule regardless of your yearly earnings. The rule, which can only be used for one year, lets us pay you a full Social Security check for any whole month we consider you retired.

For additional information, please read "How Work Affects Your Benefits."