Not necessarily - it depends on the type of account. If you have multiple IRA and 403b accounts there is no penalty if your TOTAL RMD for all accounts is met by the TOTAL distributions across all accounts. However, for 401k and 457b accounts the RMD must be met for each individual account or a penalty is due as you suggest. This distinction is discussed in the link above on "Can an account owner just take a RMD from one account".
