Withdrawing SS benefits early - how long do I have to repay everything?

You have 12 months from when you first started receiving benefits to withdraw your application (Form SSA-521). You'd need to repay ALL benefits you've received so far, including any Medicare premiums or tax withholdings. No interest charged, but you only get ONE withdrawal in your lifetime, so think carefully. With 4 months of payments, you're still well within the 12-month window.

i withdrew mine last year cause i got a new job. you gotta pay back EVERYTHING they sent you, even money that went to medicare. the form is pretty simple but they're super strict about the 12 month deadline.

The official term for this is "withdrawal of application" and here are the exact rules: 1. You must submit Form SSA-521 within 12 months of your initial entitlement to benefits 2. You must repay ALL benefits received by you and anyone else (like spouse/children) receiving benefits on your record 3. There's no interest charged on the repayment 4. You can only do this ONCE in your lifetime After the 12-month window closes, your only option would be suspension of benefits, which doesn't require repayment but has different rules.

I was in almost the EXACT same situation last year! Started at 62, regretted it 5 months later. The SSA makes you pay back EVERY PENNY before they'll process the withdrawal. In my case it was about $11,500. The process took nearly 3 weeks after I submitted everything. No interest charged, but they want it all at once - no payment plans. Definitely worth doing if you can afford the lump sum repayment. My new benefit at 67 will be nearly $800 more per month than what I was getting at 62!

dont bother with the SSA phone lines youll never get through!!! i had to withdraw my benefits and waited on hold for HOURS multiple times!!! ended up using claimyr.com to get a callback from SSA - they got me through in like 40 minutes instead of 3+ hours. they have a video showing how it works at https://youtu.be/Z-BRbJw3puU - totally worth it for something this important where you need to talk to an actual person

There's another option nobody's mentioned - instead of withdrawing, you could just SUSPEND your benefits once you reach your Full Retirement Age. That way you don't have to repay anything you've already received, and your future benefits will increase by 8% per year until age 70. The catch is you have to wait until your FRA (probably 67 for you) to do this.

make sure u got all ur benefit payment info ready when u submit the form. i forgot to include one payment they made to me and they sent the whole thing back. delayed everything by like 3 weeks