Don't sweat the CPE this summer
Ahhh, late spring in Minnesota. Gardens are planted. Lakes are almost warm enough to swim in. Grills are fired up. But before you get too comfy on that patio chair, there's one question you're going to want to ask yourself.
Is your CPE good to go?
June 30 marks the end to the Minnesota Board of Accountancy's (BOA) CPE year. Take the time now to comply with CPE rules so you can spend your summer having fun in the sun.
What are the rules?
Active CPAs -- pay attention as these rules are just for you.
You must maintain 120 CPE credits per rolling three-year reporting period. For 2017, your reporting period is July 1, 2014, through June 30, 2017.
At a minimum, the 120 CPE credit requirement includes:
- 20 CPE credits per CPE year (July 1 through June 30)
- 8 ethics credits per rolling three-year period
Does it matter what CPE I take?
In short, yes. Pay attention to the types of credits you are earning. Why? Because the BOA has placed limitations on certain CPE categories including self-study, personal development, teaching, writing and non-BOA approved sponsors.
When do I report?
Active CPAs report their CPE annually to the BOA by Dec. 31. In 2017, report your CPE for the rolling three-year period ending June 30, 2017. CPE is reported through the BOA's online services section.
Short on CPE following the June 30 deadline? Contact the BOA as soon as possible for instructions on correcting the compliance error.
What do I report if my CPA certificate is inactive?
Inactive CPAs do not have a CPE requirement and, therefore, have nothing to report. But remember -- CPA certificate renewal is an annual requirement for all CPAs, active or inactive.
What if I'm active now but planning to go inactive or exempt with my next renewal?
You still need to meet the active-status CPE rules this year. Your CPE reporting requirements change only after your status changes.
CPE reporting and CPA certificate renewal are conducted through the Minnesota BOA. They can be reached at 651-296-7938 or www.boa.state.mn.us.
The MNCPA makes it our mission to understand your reporting and renewal requirements. Reach out anytime with questions at 952-831-2707 or email@example.com.
Make CPE reporting a breeze
Sure, CPE reporting is an annual obligation. But a burden? No way, thanks to the MNCPA CPE Log.
This members-only tool does the tracking for you, alerting you to potential noncompliance issues along the way. MNCPA courses are included automatically; additional CPE is added with a few clicks. Switch jobs? The CPE Log will follow you wherever you land next.
Ready to report your credits to the Minnesota Board of Accountancy? Access the BOA CPE summary for a mirror-image report of the BOA's online form.