The IRS extended the April 15 deadline for filing tax returns to April 18th because of the weekend and a Washington, D.C. holiday. However, there was no extension for taking the required minimum distribution (RMD), as reported by Kiplinger in a recent article, “Meeting Your First RMD Deadline.”
If you turned 70½ in 2016, you were required to take your first RMD by April 1, 2017 (if you haven't already withdrawn the money). If you didn’t, you'll pay a penalty that’s equal to 50% of the amount of money you should have withdrawn.
Note that if you delayed taking your first RMD, you’ll also have to take the one for age 71 by December 31 of this year. That withdrawal can increase your adjusted gross income a bit. It may also bump you into a higher tax bracket.
In addition, it could make you subject to the Medicare high-income surcharge, if your adjusted gross income (AGI)—plus tax-exempt interest income—totals more than $85,000 if you’re single or $170,000 if you are married and filing jointly.
Here’s a suggestion for sheltering your required withdrawal from your AGI: make a tax-free transfer from your IRA directly to a charity. You can transfer up to $100,000 per year to a charity from your IRA, if you are 70 ½ and older. It will count as your RMD, but it won’t be included in your AGI.
Reference: Kiplinger (March 15, 2017) “Meeting Your First RMD Deadline”