Minnesota Administrative Rules
Agency 102 - Accountancy Board
Chapter 1105 - LICENSURE AND REGULATION OF ACCOUNTANTS
Part 1105.3000 - CONTINUING PROFESSIONAL EDUCATION REQUIREMENTS
Current through Register Vol. 49, No. 13, September 23, 2024
The requirements of continuing professional education in items A to J apply pursuant to Minnesota Statutes, section 326A.04, subdivision 4.
A. A licensee holding a certificate with an active status shall:
B. A continuing professional education period is one year, from July 1 to June 30. No carryforward of CPE from one period to the next is allowed. A licensee may carryback CPE hours earned after June 30 to satisfy the requirements of a prior CPE period provided that the late processing fees specified in item E are paid. Carryback hours used to satisfy the requirements of a prior CPE period must not also be used to satisfy the requirements of the period in which they were completed.
C. Certificates must not be renewed, and status change requests must not be processed, until CPE requirements of this part are met or an exception is granted.
D. A licensee holding a certificate with an inactive status who elects or is required to have an active certificate shall complete at least 120 hours of CPE complying with this chapter during the three-year period preceding application for an active certificate.
E. Failure to report CPE, failure to obtain CPE required by this part, reporting of an amount less than that required, or fraudulently reporting CPE is a basis for disciplinary action under Minnesota Statutes, section 326A.08. A licensee not in compliance with this part shall be assessed a late processing fee of $50 for the first month, or partial month, of noncompliance and $25 per month, or partial month, of noncompliance thereafter until the date the licensee is in compliance with this part and provides:
F. Notwithstanding item E, the maximum late processing fee must be no more than the accrued fee for the three-year CPE reporting cycle associated with the renewal that will reestablish the license as valid, as defined in part 1105.6550, item A.
G. A licensee electing to change the status of the licensee's certificate from a status of "active" to a status of "inactive" or "exempt," or requesting to change the licensee's status from "active" to "retired" must:
The change in status from "active" to "inactive" is effective on January 1 following completion of subitems (1) and (2).
H. Notwithstanding item G, a licensee requesting "exempt" or "retired" status who is in compliance with CPE and renewal requirements as of the prior renewal period has no CPE requirement under this chapter if the licensee submits a request for status change on or before June 30.
I. A change in status after completing the requirements in item G, subitems (1) and (2), is effective as follows:
J. An individual who was previously granted "retired" status under Minnesota Statutes, section 326A.045, who elects to change to an "inactive" status must notify the board of the request in writing on a form provided by the board. The change in status is effective January 1.
K. The following requirements apply to licensees granted an initial certificate with an active status.
Statutory Authority: MS s 326.18; 326A.02