You can delay your first MRD until April 1st of this year.

The tax law states that you must start taking mandatory payouts (MRD) from traditional IRAs (but not from Roths) no later than April 1 of the year after the year you turn 70 1/2. So if you turned 70 1/2 in 2011, the deadline is approaching.  Call your IRA or 401k provider...they will have the calculation for you.