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 your inheritance includes a Roth IRA, you can roll over the money from the inherited account to a Roth IRA in your name only if the decedent was your spouse. If the decedent wasn't your spouse, you cannot combine the inherited Roth IRA with the Roth IRAs you have in your name.