CPD Year End FAQs

These are the top 5 FAQs at the moment:

 

1. How do I make an annual return and by when do I need to make it?

 

The annual return process opens in early December each year. Members must make their annual return by 31 January. To make an annual return log into My Institute, click on your designation(s) under 'My Designations' and then click on the Annual Return tab where you can then make your annual return.

If you hold more than one designation you must make a seperate annual return for each designation held.

Please note members must complete all of their required hours by 31 December. Hours completed in January will count for that year rather than the previous year.

We will contact you via email and text when the annual returns process opens. A letter will also be posted to the Correspondence Section in My Institute.

 

2. What happens if I have a shortfall in hours?

 

This will depend on your CPD history. 

If you incur a shortfall for the first time this will be carried to the following year and you will then be required to complete that year’s requirement as well as the shortfall by 31 December. A shortfall warning is also applied to your record and should you fail to meet your yearly requirement again in any of the following 5 years you will lose your designation/CPD membership and be subject to the reinstatement rules as per the CPD guidelines and regulations. 

If it is your second shortfall in a 5 year period then you will lose your designation/CPD membership and will be put into ‘suspended’ mode until you catch up on the shortfall in hours and pay the reinstatement fee of €100. Suspended members are not included in their firm’s Register of Accredited Persons andare cannot advise/sell under the Central Bank’s Minimum Competency Code (MCC). 

 

3. If I do not have enough CPD hours completed should I still make my annual return?

 

Yes. If you have a shortfall in hours you are still required to make an annual return. Note you have until 31 December to complete the hours. Following the closing of the annual returns process we will contact you in relation to the shortfall. 

 

4. I made my online annual return but realised my recorded hours are incorrect. Can I submit a new return?

 

Yes, the second annual return will overwrite the first annual return. Annual returns close on 31 January.

 

5. How do I apply for a reduction in CPD hours if I am on long term sick leave or statutory leave?

 

If you are out of work on long term sick leave (2 months or more) or on statutory leave e.g. maternity leave you can apply for a pro rata/reduction in your CPD requirement. Complete the CPD hours adjustment form which you can download from the CPD Downloads/News tab in the CPD section of My Institute. 

Please note a pro rata/reduction does not apply for short term illness, career break etc.

 

 

further faqs.JPG email us.JPG phone us.JPG