Can I Opt Out of Social Security and Withdraw My Tax Funds?
Full Question:
Am I able to cancel my social security account and withdraw my benefits at age 32? I live permanently outside the US and do not plan to return?
07/07/2009 |
Category: Social Security |
State: ALL |
#17373
Answer:
I'm assuming you're referring to withdrawing benefits paid toward retirement. Retirement benefits cannot be paid out before age 62.
Generally, a person may not opt out of Social Security. Social Security coverage is mandatory. A person cannot withdraw taxes that have paid for Social Security coverage. The law also does not permit a refund of Social Security taxes. The authority for the collection of taxes, including Social Security taxes, is found in the Internal Revenue Code, not the Social Security Act. (See sections 3101(a) and 3102(a) of the Code.)
