1.Pull up the members account in CUnify and verify their identity.

• Note: IRA's are tied to the primary's social security number and only the primary member can perform a transaction on their IRA.

2. From SharePoint, select Ascensus IRAdirect and log-in.

3. Select IRA Direct

4. Under Forms, select Withdrawal.

5. Enter the Social Security Number, then click Search. 

• This can easily be found under Demographics on CUnify by holding Ctrl and clicking in the TIN box. 
  • Note: Ascensus can only search exactly 9 characters for an SSN so you will need to take out the dashes.

7. Select the account you will be withdrawing from. The date will auto populate with the current date. Then select Next to continue.

8. Select Normal to process a regular withdrawal, then select Next. 

• If you are unsure if the withdrawal is normal or know you are needing to perform another type of withdrawal, First ask your lead of manager for assistance. If they are unavailable, you can call back office for assistance. 

• If dealing with a Roth IRA, an additional page will come up asking if the five-year test has been met, simply asking if the IRA has been open for at least 5 years with the institution. This timer starts from Jan 1^st of the first year a contribution was made (this includes contributions made for the “previous year”). Select the applicable answer then select Next.

9. When performing a Normal withdrawal on a Traditional IRA, ask the member if they would like to withhold federal or state taxes (Note: Roth IRA withdrawals are tax free due to taxation at the time of contribution, however you will need to manually select Do Not Withhold for each option). Default tax information will auto-populate at 10% Federal and 8% Oregon State; however, the member may change any percentage or choose to not withhold taxes from the withdrawal.

10. Select if there will be funds remaining in the IRA after the withdrawal, as well as the method in which the withdrawal will be processed and funds dispersed to the member. This can include transferring to internal suffixes such as to a checking or regular share, as well as cash or checks. You do not need to do anything with the "Asset Handling Instructions" then select Next.

11. Here, you will see a summary of the transaction. This will include the Gross (before taxes) amount leaving the IRA, a breakdown of any taxation on the withdrawal, as well as the Net (after taxes) amount the member will receive after taxes. Click on the blue, "Withdrawal Authorization Form" link. This will open the form that will need to be printed and signed by the IRA holder in a new tab- Print 2 copies 

12. Have the member review the document and if agreeable, sign under Part 8 of the Withdrawal Authorization form and Part 3 of the Tax Withholding Elections form. Make sure you keep the signed copy, and provide the other copy to the member for their records.

13. Once you have a signed copy in hand, check the box indicating that we have a signed copy in our possession and Save. 

14. Now that you have completed the Acensus part of the transaction, you will go back to CUnify and finish the transaction. 

• You will enter the "Gross withdrawal amount" when taking the funds from the IRA suffix. 
• A window will come up to confirm the withdrawal details, such as: Withdrawal Type, Excess Contributions, and Beneficiary Distribution.

15. The next screen will be addressing any tax withholdings. By clicking Yes, you can enter and change any amount of tax withholding the member is requesting but it should autofill with default amounts. Verify the amount matches the printed paperwork from Acensus.  

**As a final reminder, Roth IRAs are not subject to tax withholding at the time of withdrawal**

16. Click continue and Post the transaction- You may need an override 

Your last step will be to scan the signed documents into Laserfiche. 

1. Account Documents on CUnify and pull up the Cover – IRA Scan cover sheet.
2. Select IRA Transaction Document from the drop down, and be sure to include the Suffix and Description on the Cover Sheet page, as it will not auto-populate. 
3. Then scan the document to Laserfiche.