MNCPA PERSPECTIVES

Don't wait to renew your CPA certificate

Nov. 7, 2017  |  Stephanie Schmidt

We’re about to enter the season of giving: the giving of thanks, the giving of love and the giving of gifts.

But there are some things you don’t want to give, or more accurately give up -- like your CPA certificate.

We’ll be approaching the CPA certificate renewal deadline before you know it. So, in the spirit of giving, I offer this reminder:

  • All Minnesota CPAs have to renew their certificate through the Minnesota Board of Accountancy (BOA) by Dec. 31. This includes active and inactive CPA certificate holders.
  • The BOA’s online renewal is up and running. If you prefer to go old-school, a downloadable paper form is available on the BOA’s website.
  • If you miss the deadline, you’ll be out of compliance with the Minnesota BOA. This will result in additional fees and eventual revocation of your CPA certificate, a big liability risk for you and your firm or company.
  • CPA firm permits must be renewed annually by Dec. 31, 2017.

Here’s where it can get a little messy: Firm permit renewal through the BOA hinges on individual CPA certificate renewal.

A recent rule change allows firms to renew their permit once two-thirds of all owners, partners, shareholders, members, managers, directors and officers within the firm have renewed their individual CPA certificate. This must be done by Dec. 31, 2017.

If all remaining CPA firm owners, partners, shareholders, members, managers, directors or officers haven’t renewed by March 1, 2018, your firm’s permit will be revoked -- no more grace period, no more additional time.

Simply put, don’t give yourself or your firm or company cause for panic, and don’t give up that hard-earned money toward fees you can avoid. Instead, in this season of giving, give the BOA what they need to renew your CPA certificate and firm permit today.

If you’re still unsure about what you need to do to remain in compliance, feel free to contact the MNCPA customer service department at 952-831-2707 or check out the certificate renewal webinar on Dec. 5.


Topics: Professional certification

Stephanie Schmidt

Stephanie Schmidt is the MNCPA’s director of membership and marketing. For more than 10 years, she has expertly managed numerous member programs and events. Her skillset comes in handy when also planning sleepovers and birthday parties for her family. Stephanie has also earned the MNCPA’s unofficial title of office fashionista. Step into her office and you’ll see her knack for fashion, design and décor. She’s also a hugger, which you’ll appreciate if you’re ever trapped in a scary escape room with her. Stephanie can be reached at 952-885-5523 or sschmidt@mncpa.org.

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