The social security card is the one that bears the social security number. It is a nine-digit number that is issued to the citizens of the United States by the government. This card and number are used to keep track of the income, and the number years you have worked. It plays a very curtail role in many government procedures.
After retirement, if you want to avail the social security disability income, they use this card to calculate your contributions and arrive at a number for benefit payments. Even though this is the main reason to possess a social security card, there are also other reasons why one should have a social security card.
To open an account in a financial institution
From the year 1970, the federal government has instructed every bank and the financial institutions to obtain the social security number of the customer if they are opening an account in the bank. These institutions use your social security number to track your finance records. This includes your credit, investments, tax payments and so on. There are a few banks that accept employee identification number instead of social security number.
While Loan Application
Your eligibility for the loan is determined by the government through the social security number. If you are applying for federal loans such as student loan, there are various criteria for the eligibility. There should not be any default in any payments, you must have citizenship, and the male applicants should have selective service registration.
Applying for public assistance
When you are applying for the public assistance programs like unemployment benefits or social security disability income it is mandatory that one needs to possess a social security card. These public assistance programs generally come under the state government functioning. These state governments use social security numbers to identify and track the financial history of the individual. If they have a clean history, then they will be eligible for these public assistance programs offered by the government.
Without the social security number, it is impossible to register or enroll in Medicare and enjoy the benefits provided by the government in the health care sector.
The federal law requires the people who are applying for the passport to provide their social security number. If you do not possess a social security card it can result in the delay of the process of application and the particular individual will be fined 500 dollars.
The IRS uses the Social Security Number to track your earnings and provide the report for the tax return. It is mandatory to provide the social security number of your child if you are listing them as a dependant.
To get drivers license
The social security card is an accepted id proof if you are applying for the driver’s license.