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: What happens to an annuity after the death of the owner largely depends on the type of annuity plan. The owner, or annuitant, elects the annuity type and any beneficiaries at inception, though beneficiaries may be changed by the annuitant prior to death. There are several types of annuity payout plans.