Place a picture from file on your sheet.
Copy the picture (Must be:- Ctrl +C).
Open Your userform in design Mode, Right click the Userform , Select Properties.
In the properties window on left of VB Editer Window, Scroll Down to "Picture".
Place curser Where it says "None", Paste picture by "Ctrl +V".
Picture appears in userform.
Delete Picture in sheet.
Mick