Form 1724 is a statement you file with Social Security to report work income if you are receiving benefits and still working

Form 1724, officially called the "Statement Regarding Your Earnings," is the document you use to tell Social Security about money you earned during the year. If you receive retirement, survivor, or disability benefits and you worked, Social Security needs this information to figure out whether your benefits should be reduced. The form asks for your name, Social Security number, the year you are reporting, and how much you earned.

You file Form 1724 only if Social Security asks you to, or if you know your earnings will affect your benefits. Most people do not need to file it — Social Security gets wage information directly from the IRS through your tax return. But if you are self-employed, have unreported income, or worked outside the United States, you may need to report it yourself using this form.

Key Takeaways

  • Form 1724 reports your work earnings to Social Security when you receive benefits and are still working.
  • Social Security automatically receives wage information from the IRS for most workers, so you only file Form 1724 if asked or if you have self-employment or unreported income.
  • The form must be filed by April 15 of the year after the year you are reporting earnings for.
  • Failing to report earnings can result in overpayment that you will have to repay, plus a 10 percent penalty.

Who needs to file Form 1724

You need to file Form 1724 if Social Security sends you a letter asking for it, or if you earned money during the year and your benefits are subject to the earnings limit. The earnings limit changes each year and applies differently depending on whether you have reached your full retirement age. If you are under full retirement age, Social Security reduces your benefits by $1 for every $2 you earn above the limit. If you have reached full retirement age, there is no earnings limit.

Self-employed people should file Form 1724 even if Social Security does not ask, because self-employment income does not always appear on tax records right away. The same applies if you worked for cash, received tips, or earned money outside the United States. If you are unsure whether your income will trigger a benefit reduction, you can call Social Security at 1-800-772-1213 to ask.

How to fill out and submit Form 1724

You can get Form 1724 from the Social Security website, by calling 1-800-772-1213, or by visiting your local Social Security office. The form is short — it asks for your name, Social Security number, date of birth, the year you are reporting, and your total earnings for that year. If you are self-employed, you report your net earnings (income minus business expenses), not your gross income.

Mail the completed form to the address shown on the form itself, or bring it in person to your local Social Security office. You can also file it online through your my Social Security account if you have one set up. The important date is April 15 of the year after the year you earned the money — so earnings from 2024 are reported by April 15, 2025.

What happens after you file Form 1724

Social Security uses the earnings you report to recalculate your benefits for that year. If your earnings are below the limit, your benefits stay the same. If they are above the limit, Social Security reduces your monthly payment starting with the month after you earned the excess income. The reduction continues until the end of the year, then your full benefit amount resumes in January.

Social Security will send you a letter explaining any change to your benefit amount. Keep this letter for your records. If you disagree with the calculation, you can request a reconsideration by contacting Social Security within 60 days of the letter.

Penalties for not reporting earnings

If you do not report earnings and Social Security finds out later, you will owe back the benefits you received while you were over the earnings limit. This is called an overpayment. Social Security will ask you to repay it, usually by reducing your future benefits. You may also face a 10 percent penalty on top of the overpayment amount.

The best way to avoid this is to report your earnings on time, even if you are not sure whether they will affect your benefits. If you think you may have missed reporting income from a previous year, contact Social Security as soon as possible to correct it. The sooner you report, the smaller the overpayment and penalty will be.

Form 1724 versus other earnings reports

Social Security has other forms for different situations. If you are a government employee and your benefits are affected by the Government Pension Offset or Windfall Elimination Provision, you may need to file different paperwork. If you are reporting earnings for a family member who receives benefits on your record, Social Security will ask you to report that separately. Form 1724 is specifically for your own earnings as a benefit recipient.

If you receive Supplemental Security Income (SSI) instead of regular Social Security benefits, you use a different form to report work income. Ask Social Security which form applies to your situation if you are unsure.

When to contact Social Security about Form 1724

Contact Social Security if you receive a letter asking you to file Form 1724 and you have questions about what to report. Call 1-800-772-1213 Monday through Friday, 7 a.m. to 7 p.m. your local time. You can also visit your local Social Security office in person, or use the online message service in your my Social Security account.

If you are self-employed or have complex income sources, consider asking Social Security whether you should file the form even if they have not asked. It is better to report voluntarily than to face an overpayment later. Social Security staff can walk you through what counts as earnings and how to report it correctly.

Frequently Asked Questions

Do I have to file Form 1724 if I work part-time?

Only if your earnings are above the annual limit for your age, or if Social Security asks you to. Most part-time workers have their earnings reported automatically through tax records. If you are unsure, call Social Security to check whether you need to file.

What counts as earnings on Form 1724?

Wages, self-employment income, and tips count. Social Security benefits, pensions, investment income, and rental income do not count as earnings. If you are self-employed, report your net earnings after business expenses.

Can I file Form 1724 online?

You can file it through your my Social Security account if you have one set up. Otherwise, mail it or bring it to your local Social Security office. There is no online filing system separate from my Social Security.

What if I earned money but did not file taxes?

You still need to report the earnings to Social Security on Form 1724 if they are above the earnings limit. Social Security and the IRS share information, so unreported income may be discovered later. Report it now to avoid overpayment and penalties.

How long does it take Social Security to process Form 1724?

Processing usually takes four to six weeks. Social Security will send you a letter confirming receipt and explaining any changes to your benefits. If you do not hear back within two months, contact Social Security to check the status.