From getting hired for a side gig to applying for a federal loan, you will need the assistance of a Social Security card. The Social Security card comes with a nine-digit number with which your entire lifetime earnings will be tracked. Every citizen of the United States and eligible residents can apply for a Social Security card.
The Process:
People can use the online option to apply online and get the Social Security card. To obtain an original or replacement Social Security card under your name, you will have to fill out an SS-5 form. After filling out the form, you must submit it along with two legal documents that can be used to verify your identity and citizenship.
Why Do You Need a Social Security Number?
There are various reasons as to why you need a Social Security card. Whether to be employable or for applying for a mortgage on a home, you will have to provide the Social Security number on your card. A Social Security card can also be used to identify yourself to the government officials under certain situations.
Use of Social Security Card When Getting Hired:
To report your Social Security wages to the SSA and your income to the Internal Revenue Service, your employer will ask you for the Social Security number on your card. If your state has an income tax, then your employer will use your Social Security number for the state income tax reporting.
Use of Social Security Card When Enrolling in Medicare:
The Social Security Administration works efficiently and tirelessly with the centers of Medicare and Medicaid services to take steps to enroll people in the Medicare plans.
Use of Social Security Card When Applying for a Passport:
When applying for a United States passport, by law you are required to present your Social Security number if you have one. If you do not have a Social Security number, processing your application will be delayed. To avoid any delay in getting your passport, make sure that you have your Social Security number in hand.
You may be imposed with a fine of $500 if you do not provide your Social Security number which you already have under your name.
Use of Social Security Card When Applying for a Federal Loan:
When you apply for federal loans, you will be asked to provide your Social Security card. The government, with the assistance of the nine-digit Social Security number on your card, will scrutinize your income and whether you have any arrears in your previous federal loan amount. After thorough scrutiny, they will decide on your eligibility for the federal loan.
The benefits do not stop with the things mentioned above since it makes it quite easy to identify individuals. Many businesses will ask you for your Social Security number. To avoid any legal trouble in the future, many prefer to do business with people who are in possession of a Social Security number.
