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.
If you inherited an IRA -- either Roth or traditional -- from your spouse, you have a third option. You can roll the funds directly into your own Roth or traditional IRA. Like the already had in the your own account, the rolled-over funds will be non-taxable.