S corp distribution....does it have to happen before year end

before the fiscal year end, yes

@usertravis-ritz-4rin 

As long as you have adequate basis, S-Corp distributions are treated as a tax-free return on your basis and, therefore, have no impact on your taxable income so it makes no difference when you take them.  If you are making a distribution in excess of your basis, it makes sense to wait until after Dec. 31 because that is treated as a sale of your stock and results in capital gain.