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.
How to Handle Inherited Annuity â 3 Comments. 1  When you factor the time value of money youâre better off with a lump sum. Consider it this way â you have $25,000 and the year is 1969. 2  Annuity is such a very valuable policy to secure your future after retirement . This information about inherited annuity and the way of handling are explained very well . One thing that people do not look at when purchasing an annuity is the surrender charge and whether it is an IRA.