A record/feature from the input could not be inserted into the output table/feature class due to problems with one of the field's values. Potential causes for this are:
The input record's text fields contain values which are longer than the output field.
The input record fields contain <NULL> values, but the output or target field does not allow NULL.
The input feature's geometry has problems (run Check Geometry on the input).
The input feature is outside the allowable extent (x, y, z, or m) of the output feature class.
Evaluate the lvalues in the input record's fields and verify that they can be stored in the output fields. If the input is a feature class or layer, run the Check Geometry tool on it.
Is it possible to attach the copy of annotation feature class for testing. If yes, then mention the version of Client/ArcSDE/RDBMS (Oracle/SQL Server).