20 CFR §266.9

1. (a)A representative payee shall, subject to review by the Board and to such requirements as it may from time-to-time prescribe, apply the payments made to him or her on behalf of the annuitant only for the use and benefit of such annuitant, and in a manner and for purposes which are in the annuitant's best interests.
2. (b)A representative payee shall notify the Board of any event that will affect the amount of benefits the annuitant receives or the right of the annuitant to receive benefits.
3. (c)A representative payee shall notify the Board of any change in his or her circumstances that would affect performance of the payee responsibilities.