What is Deemed Filing for Social Security?
Deemed filing for Social Security is a provision that affects individuals who are eligible for both retirement and spouse’s benefits. When someone who is eligible for both benefits files for one, they are deemed to have filed for the other as well. This can impact the total amount of benefits one receives, as well as the timing of when those benefits are received.
What are some common FAQs about deemed filing for Social Security?
1. How does deemed filing work?
Deemed filing occurs when an individual who is eligible for both retirement and spouse’s benefits files for one of those benefits. In doing so, they are deemed to have filed for the other benefit as well.
2. Can I choose which benefit to file for?
Yes, you can choose which benefit to file for initially. However, if you are deemed to have filed for the other benefit as well, the amount you receive may be adjusted accordingly.
3. How does deemed filing impact my benefits?
Deemed filing can impact the total amount of benefits you receive, as well as the timing of when you receive those benefits. It’s important to consider how deemed filing may affect your overall Social Security strategy.
4. Can I delay filing for one benefit to maximize the other?
Yes, you can choose to delay filing for one benefit in order to maximize the other. For example, delaying your retirement benefit could result in a higher monthly benefit amount.
5. Are there any exceptions to deemed filing?
There are some exceptions to deemed filing, such as if you were born before January 2, 1954 and are full retirement age, you may be able to file a restricted application for spousal benefits only.
6. When should I consider deemed filing for Social Security?
You should consider deemed filing when you are eligible for both retirement and spouse’s benefits and need to make a decision about when and how to file for those benefits.
7. How can I calculate the impact of deemed filing on my benefits?
You can use online calculators or consult with a Social Security representative to calculate how deemed filing may impact your benefits. They can help you understand the implications of filing for one benefit versus the other.
8. Is deemed filing permanent?
Deemed filing is not necessarily permanent. You may have the option to change your filing strategy in the future, depending on your individual circumstances and the rules in place at that time.
9. Can I receive both retirement and spouse’s benefits concurrently?
Depending on your individual situation, you may be able to receive both retirement and spouse’s benefits concurrently. However, the total amount you receive may be adjusted based on deemed filing rules.
10. What are the advantages of deemed filing?
Deemed filing can simplify the process of applying for Social Security benefits, as it ensures that you receive all the benefits you are eligible for without having to file multiple separate applications.
11. What are the disadvantages of deemed filing?
One disadvantage of deemed filing is that it may result in a lower overall benefit amount compared to if you had filed separately for each benefit. It’s important to weigh the pros and cons before making a decision.
12. How does deemed filing impact survivor benefits?
Deemed filing does not impact survivor benefits. If you are eligible for survivor benefits, they are separate from retirement and spouse’s benefits and are not subject to deemed filing rules.