Community Updates & Information

April 30, 2026 ┃By: LASCO

As tax season ends, we want to remind everyone of the rules about money and property for folks who get a Supplemental Security Income (SSI) check. 

If you get SSI, you usually cannot have more than $2,000 in cash or property (sometimes called assets). If you go over that limit, you could lose your SSI. It’s important to understand these rules and keep good records of your money, property and spending. This can help avoid problems like losing SSI or having to pay money back because of what Social Security calls “overpayments.” 

Understanding SSI Rules about Resources

SSI has strict rules about how much money or property you can have. Social Security calls these “resources.” Most people can only get SSI if Social Security decides they have less than $2,000 in total resources. Social Security does not count some things, like the home you live in, or one car when determining your resources. 

Social Security checks your resources on the first day of each month. It is important to keep track of how much money is in your bank account. If you are over the limit, you should spend any extra money before the end of each month on things you need. 

Keep good records to show Social Security you used the money to buy things at a fair price. SSI is a low-income program, so Social Security looks carefully at how people buy and sell things to make sure everyone follows the rules. Just giving the money to friends and family can lead to losing SSI eligibility for a period of time. 

Grace Periods for Some Cash Payments 
Not all cash payments will count towards the $2,000 limit right away. Social Security gives people extra time to spend money from some things. You have up to 12 months to spend the money from a tax return before Social Security counts that amount of money towards the $2,000 limit. 

How to Keep and Submit Records to Social Security 
If you get SSI, it is important to keep receipts and records of how you spend your money. This is especially true when it comes to spending larger amounts like funds you might get back from a tax refund. Social Security will sometimes ask for proof of how you spent your money.

If you get a letter from Social Security asking for proof of your spending, answer quickly. The best ways to send things are:

• Upload them to your Social Security account online
• Fax copies (not originals) to your local Social Security office
• Bring copies in person

Always keep copies of everything you send, and a separate record showing when and how you sent things. Good records can help avoid mistakes and overpayments.