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Ask the issuing company if they are willing to split the original annuity into three individual annuities. If yes, a 1035 transfer to another company is probably possible. But ask about fees. And does this reset the clock on early termination fees. Understand when the fees expire.

No, the paper trail is not difficult. Usually the previous company advises the IRS that you took a distribution and you must then report it and tell the IRS that you transferred it to another qualified account (on your income tax form for the year). A statement showing the funds were reinvested by the receiving company is usually sufficient if the IRS questions the transaction.
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