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Asked 10/14/2011
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Taking minimum required distribution (MRD) I am required this year, to take minimum required distribution from my 401K at my old company and my IRA at Fidelity broke r(2 different accounts)
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Answer 1/1 - Submitted 10/17/2011
Because the 401(k) and IRA are different types of accounts, you have to take the Required Minimum Distribution from each. 401(k) trustees have to pay out the RMD correctly, or they risk having the plan disqualified completely.
If you held more than one IRA, say one with Fido and one with Vanguard, then you could take the combined RMD from just one of the accounts.
If you turned 70 1/2 during 2011, you have until April 1, 2012 to take out your RMD. But then you would have to take out a second RMD (technically, 2012's) before the end of 2012. Depending on your financial situation, that may create unexpected tax consequences such as tax on your social security.
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