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.
Save. There are various types of annuities. In certain instances when the owner dies, the Internal Revenue Service requires the surviving annuitant on a joint account or the beneficiary to immediately cash in the annuity. However, the IRS doesn't require people to cash in all types of annuities when the owner dies.ave. There are various types of annuities. In certain instances when the owner dies, the Internal Revenue Service requires the surviving annuitant on a joint account or the beneficiary to immediately cash in the annuity. However, the IRS doesn't require people to cash in all types of annuities when the owner dies.