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.
The annuitant or the beneficiary of the annuity may also be able to roll the annuity over into an IRA if the annuitant or beneficiary is the spouse of the original owner. Non-spouse beneficiaries do not generally hold the right to roll an annuity over into a personal IRA.