Current through Register Vol. 63, No. 9, September 1, 2024
(1)
Inactive Status:
(a) An application for inactive license
status must be made on a form provided by the Board and must be accompanied by
a fee prescribed by OAR
801-010-0010.
(b) The licensee applying for inactive status
must certify to the Board that:
(A) The
licensee holds a license issued under ORS
673.150 that is not lapsed,
expired, retired, revoked or suspended;
(B) The licensee is not employed in a
firm;
(C) The licensee is not a
sole practitioner;
(D) Except as
expressly authorized in writing by the Board or provided for in this rule, the
licensee does not perform or offer to perform for compensation or remuneration
in Oregon or for an Oregon client, services involving the use of accounting or
attestation skills, including but not limited to issuance of reports on
financial statements, management advisory, financial advisory, consulting
services, preparation of tax returns or the furnishing of advice on tax or tax
planning matters.
(c) An
inactive licensee not working in a Firm is permitted to practice public
accountancy in private industry for one business entity as a staff accountant,
CFO or similar position.
(d)
Inactive licensees may not hold ownership interest in a registered CPA or PA
firm.
(2)
Renewal
Requirements. A licensee who is granted inactive status:
(a) Must renew on or before June 30;
(A) Licensees with a license number that is
even will renew in even-numbered years.
(B) Licensees with a license number that is
odd will renew in odd-numbered years.
(b) Renewal applications that are postmarked
by the US Postal Service or other delivery service, electronically stamped by
fax machine or submitted by an online process managed by the Board after June
30 must include a late fee described in OAR
801-010-0010; and
(c) Must satisfy the continuing education
requirements as provided in OAR
801-040-0010.
(3) An inactive licensee may be employed by a
governmental unit or private industry employer in which accounting skills are
used or required provided, however, that:
(a)
An inactive licensee may not be employed by more than a single governmental
entity or private industry employer at any one time; and
(b) An inactive licensee employed by a
governmental unit or private industry employer may not provide services to more
than one client.
(c) For purpose of
this provision, affiliated entities under common control may be considered a
single employer.
(4)
Inactive Licensees' Use of CPA or PA Designation. A licensee who
is granted inactive status shall not use the CPA or PA designation unless the
word "Inactive" is used in conjunction with the designation, such as "CPA
Inactive," and is listed in the same font size.
(5) To the extent applicable, an inactive
licensee is subject to the Code of Professional Standards and Conduct set forth
in OAR Chapter 801, Division 030.
(6)
Retired Status:
(a) An application for retired license status
must be made on a form provided by the Board and must be accompanied by a fee
prescribed by OAR 801-010-0010.
(b) The licensee applying for retired status
must certify to the Board that:
(A) The
licensee meets the age or experience requirements for retired status as set
forth in OAR 801-005-0010(50);
(B) The licensee holds a license issued under
ORS 673.150 that is not lapsed,
expired, revoked or suspended;
(C)
Retired licensees may use accounting skills as a volunteer or to provide pro
bono tax services work so long as there is no compensation or remuneration of
any kind offered or paid;
(D) A
retired licensee may be employed by a public accounting firm, performing any
work that someone without a CPA license is entitled to perform in a CPA firm.
The work of a retired CPA should be reviewed and supervised by an active
licensee.
(E) The licensee does not
perform or offer to perform in Oregon or for an Oregon client, financial
advisory, tax planning or financial consulting services.
(F) Retired licensees may not hold ownership
interest in a registered CPA or PA firm.
(c) Must renew on or before June 30.
(A) A retired status licensee is not required
to obtain or report any CPE.
(B)
Licensees with a license number that is even will renew in even-numbered
years.
(C) Licensees with a license
number that is odd will renew in odd-numbered
years.
(7)
Retired Licensee's Use of CPA or PA Designation. A licensee who is
granted retired status shall not use the CPA or PA designation unless the word
"Retired" is used in conjunction with the designation, such as "CPA Retired,"
and is listed in the same font size.
(8) To the extent applicable, a retired
licensee is subject to the Code of Professional Conduct set forth in OAR
Chapter 801, Division 030.
(9) A
licensee in retired status will be permitted to reinstate to active or inactive
status in accordance with the provisions in OAR
801-010-0130(7)
and OAR
801-010-0130(8).
(10)
Ability of Inactive and Retired
Status Licensees to Serve as Trustee of a Trust or a Court Appointed Receiver,
Trustee, Guardian, Conservator, or Personal Representative of an Estate.
Notwithstanding the limitations set forth above, inactive and retired status
licensees may serve as a trustee for a trust, or as a court appointed receiver,
trustee, guardian, conservator, or personal representative/executor of an
estate; provided, however, the licensee must comply with all fiduciary duties
and responsibilities of the position, may not perform attestation work for the
entity or individual for which the service is provided, and may not work as a
court appointed trustee, receiver, guardian or conservator, or in other
fiduciary positions for hire.
Statutory/Other Authority: ORS
670.310 &
673.220
Statutes/Other Implemented: ORS
673.220
