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.
1 Rollover the IRA to an inherited IRA (see this post for more information). 2  In this case, youâre treating the situation as if youâre a non-spouse beneficiary. 3  Rollover the IRA into an existing or new IRA in your own name. This is the default position. 2  Rollover the IRA to an inherited IRA (see this post for more information). 3  In this case, youâre treating the situation as if youâre a non-spouse beneficiary. 4  Rollover the IRA into an existing or new IRA in your own name.