Social Security: How Long You Can Live Outside the US Without Losing Benefits
Some Americans set their sights on a new country with a desire to retire abroad. You’ve finally reached retirement age and you’re ready to spend your golden years exploring a new land, a new culture, and perhaps living at a different pace, there are a few things you should consider first.
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You might be thinking: can I still receive my monthly Social Security benefits even if I choose to live abroad?
The answer is yes. In fact, Harvey Law Group indicated the number of Americans collecting their Social Security benefits from overseas grew from 413,000 to 760,000 in the last three years, as of 2022.
In most cases, American retirees collecting monthly Social Security benefits may reside outside the U.S. and still receive their monthly benefits, with few exceptions.
There’s No Time Limit For Receiving Social Security Benefits Abroad
Luckily, there is no time limit on how long you can live outside the U.S. and still receive monthly Social Security payments. As long as proof of life documents are signed and returned annually, you’ll still get paid. Additionally, you’ll need to complete Social Security Form SSA-7162, which is two pages long and asks about changes to your residency and marital status, among other things. The forms may be mailed annually or biannually.
U.S. News and World Report highlighted the US Social Security Administration pays out about $6.1 billion in benefits annually to 760,000 beneficiaries outside the United States, according to 2022 data.
It’s important to note that you’ll still be obligated to file a U.S. tax return even if you’re collecting Social Security benefits while living abroad. Also, if you receive a foreign-based pension, your Social Security benefits could be reduced.
9 Countries Where You Can’t Collect Social Security
U.S. citizens can move to almost any country in the world and receive Social Security payments. However, there are some exceptions. Currently, payments cannot be received by those living in the following countries:
Azerbaijan
Belarus
Cuba
Kazakhstan
Kyrgyzstan
North Korea
Tajikistan
Turkmenistan
Uzbekistan
If you spend time living in any of these nine countries, the payments you were not eligible to receive while you lived there will be paid to you retroactively once you move to another foreign country where Social Security payments are allowed. However, if you spend time living in Cuba or North Korea, you will not be eligible for any payments withheld while you lived in either of these two countries.
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This article originally appeared on GOBankingRates.com: Social Security: How Long You Can Live Outside the US Without Losing Benefits
