Social Security Number - SSN


DEFINITION of 'Social Security Number - SSN'

A nine-digit number assigned to citizens, some temporary residents and permanent residents in order to track their income and determine benefit entitlements. The Social Security number was created in 1936 and while the original intention was just to track earnings and benefits, it is now also used to identify individuals and sometimes track their credit record.

BREAKING DOWN 'Social Security Number - SSN'

Social Security numbers are now random streams of digits, but prior to 2011, they were not. At that time, the first three digits represented the area in which the individual was born or was from. The next pair of numbers was originally slated to represent a year or month of birth. Because they worried about this being falsified, the Social Security Administration instead voted to have it represent a group number. The final four digits have aways been randomly generated.

  1. Taxes

    An involuntary fee levied on corporations or individuals that ...
  2. Old-Age And Survivors Insurance ...

    An account within the Social Security Trust Fund used to pay ...
  3. IRS Form 4868

    An IRS form that must be submitted by individuals who wish to ...
  4. Filing Status

    A category that defines the type of tax return form an individual ...
  5. Income Tax

    A tax that governments impose on financial income generated by ...
  6. Tax Reform Act Of 1986

    A law passed by the United States Congress to simplify the income ...
Related Articles
  1. Insurance

    Identity Theft: How To Avoid It

    Don't be a victim of this disturbing crime. Get insight into how perpetrators commit this form of fraud.
  2. Retirement

    Tax Tips For The Individual Investor

    We give you seven guidelines to help you keep more of your money in your pocket.
  3. Retirement

    Introduction To Social Security

    You've probably contributed to this fund, but will you reap the benefits? Find out here.
  4. Credit & Loans

    Identity Theft: Who To Call For Help

    If your identity is stolen, it's critical to act fast. Find out what to do if it happens.
  5. Retirement

    Going Back to Ecuador to Retire: A How-to Guide

    Spending your retirement years in Ecuador can be an affordable and attractive proposition, provided you know the country's laws.
  6. Personal Finance

    The Ten Commandments of Personal Finance

    Here are the simple financial Ten Commandments that, when faithfully followed, can lead to a secure economic future.
  7. Taxes

    Retired? 7 Tips for Cutting Taxes Before 2015 Ends

    As 2015 nears its end, here are some financial moves retirees can make before December 31 that can help to lower your tax bill.
  8. Investing

    What a Family Tradition Taught Me About Investing

    We share some lessons from friends and family on saving money and planning for retirement.
  9. Personal Finance

    How the Social Security Reboot May Affect You

    While there’s still potential for some “tweaking” around your Social Security retirement benefits, I’d like to share some insight on what we know now.
  10. Retirement

    Should Social Security Be Privatized?

    The idea of controlling your own retirement money is one that continues to hold appeal for a large segment of voters.
  1. Does Canada have Social Security numbers?

    Social Insurance numbers (SINs) in Canada are equivalent to Social Security numbers (SSNs) in the United States. Canadian ... Read Full Answer >>
  2. How do I transfer my credit card history from one country to another?

    It is currently not possible to transfer your credit history to another country if you relocate. The credit metrics used ... Read Full Answer >>
  3. When am I not required to submit a social security number on my tax return?

    When filing your tax return, you are generally required to include the social security numbers of yourself and the individuals ... Read Full Answer >>
  4. Why do brokers ask for personal information before they make any trades?

    According to the Securities and Exchange Commission (SEC), there are three main reasons why a broker will ask for personal ... Read Full Answer >>
  5. Do tax brackets include Social Security?

    A portion of your Social Security benefits may be subject to federal taxation using tax brackets. Your tax bracket is determined ... Read Full Answer >>
  6. Do free credit reports affect your credit score?

    Free credit reports do not impact your credit score. Credit inquiries are divided into two categories: soft inquiries and ... Read Full Answer >>

You May Also Like

Hot Definitions
  1. Bar Chart

    A style of chart used by some technical analysts, on which, as illustrated below, the top of the vertical line indicates ...
  2. Bullish Engulfing Pattern

    A chart pattern that forms when a small black candlestick is followed by a large white candlestick that completely eclipses ...
  3. Cyber Monday

    An expression used in online retailing to describe the Monday following U.S. Thanksgiving weekend. Cyber Monday is generally ...
  4. Take A Bath

    A slang term referring to the situation of an investor who has experienced a large loss from an investment or speculative ...
  5. Black Friday

    1. A day of stock market catastrophe. Originally, September 24, 1869, was deemed Black Friday. The crash was sparked by gold ...
Trading Center