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.
You can convert all or part of a Traditional IRA into a Roth IRA regardless of your modified adjusted gross income (MAGI). You can also roll over assets from a previous employer's plan to a Roth IRA with no income limits.on-spouse beneficiaries of an IRA or an employer-sponsored retirement plan, such as a 401(k), can roll over their inherited retirement account assets into an Inherited IRA. Inherited IRAs must be established through a direct trustee-to-trustee transfer.