Charlie and Rose have been married for 40 years and have three children together. They are currently semi-retired and enjoying life at the beach in Florida. Rose turned 72 on November 17, 2022 and Charlie turned 72 on October 15, 2023. Rose is fully retired as a fashion model from Burls Boutique, which marketed to older customers. Charlie still works part-time for a company that rents sailboats and provides sailing guides for customers renting boats. The company, called Set Sail, sponsors a 401(k) plan, in which Charlie continues to make contributions. Charlie gave up his corporate job at IBM several years ago and plans to continue working at Set Sail because he loves it. Charlies uncle, Alan, died in 2019 and left his Roth IRA to Charlie. Charlie is sad about Alan, but happy about the IRA and even happier that it is a Roth IRA. Alan started the Roth IRA over ten years ago. They need to know whether they need to take minimum distributions and if so, how much and from what accounts. The balances in the accounts are shown below.

1. What is the required beginning date (RBD) for Rose and Charlie?

2. What is the factor for Rose and for Charlies first required minimum distribution (RMD)?

3. Which plans must they take a distribution from during 2023?

4. What is the total amount of Charlies RMD for 2024 (assuming he did not defer taking his first distributions until 2024)?

5. What is the minimum number of RMDs Rose has to take each year?

6. If Rose delays her first RMD to April 1st of 2023, how much is the total amount of her RMDs for 2023?

7. How is the life expectancy factor for the inherited Roth IRA determined for 2024 compared to the life expectancy factor for Charlies other accounts?

8. Assume that Rose falls off the sailboat in 2023 and is eaten by a great white shark. Also assume that she named her three children, ages 50, 48, and 45, as equal beneficiaries on her self-directed Roth IRA. What are the implications for the beneficiaries regarding minimum distributions?

\begin{tabular}{|c|c|c|c|c|c|c|} PlanOwner & Plan \# & Account /Plan Type & December31,2021Balance & December31,2022Balance & December31,2023Balance & December31,2024Balance \\ \hline Rose & 1 & Self Directed IRA & $22,000 & $23,500 & $20,500 & $19,800 \\ \hline Rose & 2 & Self Directed Roth IRA & $58,000 & $67,000 & $68,000 & $70,000 \\ \hline Rose & 3 & Self Directed IRA & $45,000 & $51,300 & $50,300 & $49,100 \\ \hline Rose & 4 & Burl's MPPP & $270,000 & $267,000 & $260,000 & $252,000 \\ \hline Charlie & 5 & Inherited Roth IRA & $180,000 & $200,000 & $220,000 & $218,500 \\ \hline Charlie & 6 & Self Directed IRA & $17,000 & $18,000 & $20,000 & $20,500 \\ \hline Charlie & 7 & IBM 401(k) Roth Account & $40,000 & $41,500 & $49,000 & $51,000 \\ \hline Charlie & 8 & IBM MPPP & $600,000 & $650,000 & $700,000 & $723,000 \\ \hline Charlie & 9 & Set Sail 401(k) Roth Account & $80,000 & $89,000 & $92,000 & $99,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|} PlanOwner & Plan \# & Account /Plan Type & December31,2021Balance & December31,2022Balance & December31,2023Balance & December31,2024Balance \\ \hline Rose & 1 & Self Directed IRA & $22,000 & $23,500 & $20,500 & $19,800 \\ \hline Rose & 2 & Self Directed Roth IRA & $58,000 & $67,000 & $68,000 & $70,000 \\ \hline Rose & 3 & Self Directed IRA & $45,000 & $51,300 & $50,300 & $49,100 \\ \hline Rose & 4 & Burl's MPPP & $270,000 & $267,000 & $260,000 & $252,000 \\ \hline Charlie & 5 & Inherited Roth IRA & $180,000 & $200,000 & $220,000 & $218,500 \\ \hline Charlie & 6 & Self Directed IRA & $17,000 & $18,000 & $20,000 & $20,500 \\ \hline Charlie & 7 & IBM 401(k) Roth Account & $40,000 & $41,500 & $49,000 & $51,000 \\ \hline Charlie & 8 & IBM MPPP & $600,000 & $650,000 & $700,000 & $723,000 \\ \hline Charlie & 9 & Set Sail 401(k) Roth Account & $80,000 & $89,000 & $92,000 & $99,000 \\ \hline \end{tabular}