Member Withdrawal

This is where any member withdrawal starts. The following steps assume that the withdrawal is going to be entered and completed on the same date. If that is not the case, any withdrawal where the payout date is not yet known, will be added under the Complete a Pending Withdrawal heading. Return to the Withdrawal page at any time, and click the link to complete the withdrawal for the member in question.

If you have already started a member withdrawal, and need to complete it at a latter date, or if your club plans to pay out the member in installments, please see our notes on completing a member withdrawal, or on using multiple payout dates.

Select the member name, and if the withdrawal will be full or partial.

Items to note on this page:

The Announcement date cannot be on the same date as the valuation report that your club wants to use. If your club typically creates a new valuation at the end of each month, then the Announcement date in the system would need to be at least one day past that valuation, in order for the system to complete the withdrawal. If you try to enter a withdrawal on a valuation date, the system will warn that this is not possible. If that happens, you can either move the Announcement date forward so that it is not on a valuation, or remove the valuation, and enter it for a different date.

For specifc steps on editing or deleting valuations, see KB 98

If you do not yet know the Payout date, it is OK to leave this blank; doing so will add a link to the members page, allowing you to complete the withdrawal at a latter date.

In the case of a partial withdrawal, you must use the same date for both the Announcement and Payout Dates.

Once you have the dates set, check the box at the bottom of the form if you will be transferring stock to the member as part (or all) of the withdrawal. Click the Continue button to go to the next page.


If you have selected to enter a full withdrawal, the Total value of withdrawal box will already be filled in; if you selected to enter a partial withdrawal, then it will be blank, and you will need to make the entry manually.

You can also fill in a withdrawal fee as a percent, dollar value, or both.


Confirm that the Dollars withdrawn and Account are correct, and click the Continue button. If this is a cash only withdrawal, the next page that appears will be the transaction confirmation. If you are planning to transfer stock as part of the withdrawal, then the follow screen will appear instead, asking you to choose stocks to use


This page will list all stocks available at the time of the member withdrawal, and their prices as of the valuation used for that member's withdrawl. Enter the number of shares of each stock to use as part of the withdrawl.


The bottom of the page will show the total value of the stock to be withdrawn, based on the price from the valuation, and the number of shares selected. The Cash withdrawn line will show the total cash due after the value of the securities has been calculated. The Dollars withdrawn line shows the total value of the withdrawal. Click the Submit button to continue to the block selection page.


The system defaults to picking shares from the earliest blocks, when entering a member withdrawal. If you wish to take shares from a different block, you can make changes on this screen. NOTE: You cannot change the total number of shares a member will receive on this page; if you need to change the total number of shares, you will need to go back one page.

Once you are satisfied with the allocation of shares, click Submit to see the transaction details screen for the member withdrawal.