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Your end-of-year CPA to-do list

BOA Business

Anne Janotta Erickson, MNCPA senior business & industry marketing coordinator | October 2018 Footnote

There's something satisfying about crossing off items on a to-do list. It can be as simple as a grocery list, or as complex as a project plan. Either way, done means done.

It would behoove you to take on the Minnesota Board of Accountancy's (BOA) upcoming Dec. 31 deadline with this same get-it-done attitude. For a little help, we present to you the 2019 CPA Certificate Annual To-Do List. Use this checklist to ensure your CPA certificate remains in compliance heading into 2019.

2019 CPA Certificate Annual To-Do List:

Renew my CPA certificate.
Deadline: Dec. 31, 2018

The Minnesota BOA requires all active and inactive CPAs to renew annually. It's fastest and easiest to renew online, although a downloadable paper form is available on the BOA's website.

2019 CPA certificate renewal costs:
Active: $100
Inactive: $25

Report my CPE. 
Deadline: Dec. 31, 2018
CPE reporting period: July 1, 2015--June 30, 2018

CPE reporting is an annual obligation for active CPAs, including those planning to switch to another status. Remember, active CPAs can't renew or change status until their CPE is reported.

Those who already hold an inactive certificate do not have a CPE reporting requirement.

CPAs required to report CPE must maintain 120 CPE credits, including 8 ethics credits, during every rolling three-year period. You'll need a minimum of 20 CPE credits in each CPE year.

Don't forget the new rules!

Remember, the BOA's CPE rules changed Jan. 9, 2018. In addition to expanding the types of CPE allowed, CPAs are now required to maintain a minimum of 60 technical credits per three-year reporting period.

Except for personal development, all CPE credits taken in fiscal years 2016 and 2017 were automatically reclassified by the BOA as technical credits. Ethics credits earned during those years were classified as technical - regulatory ethics. Credits earned in fiscal year 2018 must comply with the new rules.

For specifics, visit www.mncpa.org/CPE-rule-changes.

Oops! I missed a deadline.

What happens if you miss the BOA's June 30 or Dec. 31 deadlines? Good question!

Renewal: Dec. 31
You'll be assessed a $50 late-renewal fee. The BOA revokes CPA certificates (active and inactive) that have not been renewed for two consecutive years.

CPAs who renew late cannot perform public accounting work or use the CPA designation until their certificate is properly renewed.

CPE reporting: June 30 and/or Dec. 31
Carryback credits earned after June 30 or CPE credits reported after Dec. 31 are late and will be assessed a noncompliance or late-reporting fee. Your fee is determined based on the month that credits are properly reported to the BOA.

Inactive CPAs: You must renew, too!

Missing the BOA's Dec. 31 renewal deadline is a common mistake made by inactive CPAs. Remember: All CPAs, including those who are inactive, must renew annually.

Failing to renew an inactive CPA certificate will result in additional fees and eventual revocation of the certificate. Use of the "CPA Inactive" designation is not allowed until the certificate is compliant with BOA rules.    

Firm permit renewal

Deadline: Dec. 31, 2018

CPA firms must renew their firm permit annually by Dec. 31. But to do so, specific individual CPAs working for the firm (owners, partners, shareholders, members, managers, directors and officers) must also comply as follows:

Dec. 31, 2018: Two-thirds of those listed above must have renewed and reported.

Repercussion: CPA firm will not be able to renew its permit.

March 1, 2019: 100 percent of those listed above must have renewed and reported.

Repercussion: CPA firm permit will automatically be revoked by BOA.


The Minnesota BOA regulates CPA certification and CPE reporting. They can be reached at 651-296-7938 or www.boa.state.mn.us

Turn to the MNCPA for help. Visit www.mncpa.org/renewal, call 952-831-2707 or email customerservice@mncpa.org

Are you using the CPE Log? You should be.


Stop stressing about tracking your CPE. Keep things simple with the MNCPA CPE Log. This online tool tracks your credits and alerts you to potential noncompliance issues. Access the BOA CPE summary when reporting credits to the BOA.