WASHINGTON — The third round of stimulus checks hit bank accounts across the country this week, but not every qualifying person has gotten the money. Many have expressed confusion over the stimulus process, from who qualifies to when they would see it hit their bank accounts.
Many who have questions are supported by Supplemental Security Income (SSI), or Social Security Disability Insurance (SSDI). So, when might they see a stimulus?
The Verify team exists to help give you the answers and sort through any confusion.
So, let's Verify:
Will qualifying Social security recipients get a third stimulus check? When can they expect a check?
ANSWER: Yes. Qualifying individuals will still receive the money in the same way that they receive other benefits. The timeline might look a little different depending on how you get your funds.
The IRS and the Treasury Department announced on March 30 that Social Security recipients will see a majority of the checks sent electronically and receive on April 7 , with payments beginning distribution as early as April 3.
All across social media, people have been sharing their questions about this round of stimulus checks -- including asking why they haven't received theirs. Those who take Social Security have been amongst the many asking our Verify team about why they aren't seeing a payment.
The Verify team went straight to the IRS to find the answer.
How do I know if I qualify?
According to the latest update from the agency dated March 12, federal beneficiaries like those on Social Security should still get the third stimulus check in the same way that they receive their other benefits.
And just because you didn't automatically get the first batch of payments doesn't mean you won't get any.
"Additional batches of payments will be sent in the coming weeks by direct deposit and through the mail as a check or debit card," the March 12 IRS update reads. "The vast majority of these payments will be by direct deposit."
"The IRS will automatically send EIP3 (the third stimulus check) to people who didn't file a return but receive Social Security retirement, survivor or disability benefits (SSDI), Railroad Retirement benefits, Supplemental Security Income (SSI) or Veterans Affairs benefits," the post continues. "This is similar to the first and second rounds of Economic Impact Payments, often referred to as EIP1 and EIP2."
How will it be distributed?
Federal benefits are typically distributed to SSI recipients through their Direct Express card account. The company said that the first batch of stimulus has already been issued, "with additional batches of payments will be sent in the coming weeks."
On March 30, the IRS and the Treasury Department announced March that Social Security recipients will see a majority of the checks sent electronically and receive on April 7, 2021, with payments beginning distribution as early as April 3. That's the latest timeline we have.
And according to most updated guidelines from Direct Express, only current cardholders are eligible for this third round of stimulus -- meaning if you sign up now, you can receive other benefits, but not this stimulus check. Instead, your stimulus money will be issued in another format that might take a little longer to get to you.
If you recently closed a Direct Express card, any third stimulus funds that were sent "will be returned and the IRS will reissue the payment," said the agency.
I don't have a Direct Express Card. What next?
If you didn't have your bank information fully set up on file with the IRS or have one of those Direct Express accounts, your payment might arrive as a paper check or through a different, non-Direct Express Bank Account, or even a pre-paid card. If you have one of those pre-paid cards from previous rounds of stimulus, you'll still get a new one in the mail, because the payments aren't automatically reloaded.
"For those who received EIP1 or EIP2 but don't receive a payment via direct deposit, they will generally receive a check or, in some instances, a prepaid debit card (referred to as an "EIP Card)," the IRS wrote. "A payment will not be added to an existing EIP card mailed for the first or second round of stimulus payments."
When can I see a deposit?
As for when you might see the new payment, it depends on how you get those funds, whether it be through an EIP card or a physical check.
The first round of $1,400 checks began going out through direct deposit on March 17 for millions of Americans, but the IRS said a payment date for those on federal benefits "will be announced shortly." No specific date has been released yet, although updates are expected.
Where can I check the status of my third round of stimulus?
Most residents who received SSI and SSDI benefits in 2020 "should not need to take any action" to get their third stimulus payment says the IRS.
"Because these payments are automatic for most eligible people, contacting either financial institutions or the IRS on payment timing will not speed up their arrival," the IRS latest update reads.
But for additional info and more on how to track your stimulus, you can visit the IRS Get My Payment finder here.
In addition, the Social Security Administration said they will be adding a FAQ page to their website in the coming weeks to answer more questions.
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