• Question
  • Suspending SS in first 12 months

    Asked by someone from Coeur D Alene, ID on 1/19/2020

    I took ss at age 62. It started in feb 2019. Can I still pause it?

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Answers

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  • You have 12 months from the start of receiving Social Security to withdraw your benefit. At the time you change your mind to reverse your benefit, you must be able to pay Social Security back in cash for all of the distributions you received. In your case, you have received almost a year of benefits, so you have to return the entire amount in a lump sum. You can only use the first time to withdraw rule one time, so next time you file there are "no take backs."

    Call the Social Security Office to help you navigate this process.

  • Login to rate this answer:   Answered on 2/3/2020
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.