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.
As a spouse you have the most options when it comes to inherited IRAs. If you inherit a retirement account from your spouse, you can transfer the assets into a retirement account of your own. The distribution rules (when and how you can take the money) are the same as if the account had always been yours.