File Your Representative Payee Report. The SSA requires that a representative payee file an annual accounting called the Representative Payee Report. This report details what you, as the representative payee, have done with the beneficiary's funds during the previous year.
You can roll over an inherited qualified annuity. This type of annuity resides in an individual retirement account or employer plan. A nonspouse beneficiary has limited options regarding how to roll over the annuity and when taxes are due.
Several types of Social Security payments are not affected if youâre receiving an annuity. If youâre receiving payments from Social Security Disability, Retirement and Survivors, the benefit amounts remain unchanged no matter how much your inheritance is.eceiving an inheritance annuity doesnât affect all types of Social Security payments, but it can affect some some Social Security benefits depending on the amount of your inheritance annuity and any other assets you own.