What must a Social Security representative payee do annually regarding the funds?

A Social Security representative payee is responsible for managing the Social Security benefits of a beneficiary who may be incapable of managing their own funds. One of their key obligations is to provide an annual spending report detailing how the funds were utilized throughout the year. This report serves to ensure transparency and accountability in how the benefits are managed, showing that the payee is using the funds for the well-being of the beneficiary, such as paying for necessities like housing, food, medical care, and other relevant expenses.

Maintaining this annual report is crucial because it not only helps Social Security review the performance and appropriateness of the payee but also protects the interests of the beneficiary by ensuring funds are used correctly. Such reporting supports the regulation and oversight necessary within the Social Security system to safeguard against misuse of benefits.

The other options do not align with the requirements placed upon a representative payee. For instance, submitting medical reports does not fall under the responsibilities of a payee but may be relevant for healthcare providers. Similarly, reapplying for payee status isn't a routine annual requirement as payee authority can be ongoing as long as circumstances remain unchanged. Auditing one's own finances is not a mandated action by Social Security for payees; instead, they must focus on the