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.
A rollover is a tax-free qualifying. distribution to you of cash or other. assets from one retirement plan that. you contribute to another retirement. plan. The contribution to the second. retirement plan is called a ârollover.â. This transaction is reported to the IRS.