I will be required to make distributions prior to April 15, 2018. Since you will turn 70.5 in 2017 you must take the 2017 RMD by that date. You will also need to take a 2018 RMD in 2018 ... you cannot wait until 2019. So if you wait to take the 2017 distribution it can effect the return & the tax rate you pay since you will need to take 2 distributions in 2018.
Having two 401K account do I need to withdraw from each individually or as a total? Individually.
May I withdraw today and apply this amount to my April 15, 2018 required distribution? Talk to the plan administrators for the RMD requirements and payment options. Any distributions in 2017 will count towards the required amount needed for 2017.
