CPA Firm and Sole Proprietor Permit Renewal
Updated Oct. 22, 2019
Firm permit renewal
Firm permit renewal is an annual requirement.
Deadline: Dec. 31
All CPA partners, shareholders, members, managers (see definition below), directors and officers within the firm must be in compliance with their individual certificates for the firm permit to be valid. Collectively, they are referred to as "owners" within BOA renewal forms. Two-thirds of said "owners" must be in compliance on Jan. 1, and 100 percent in compliance within 60 days of their license expiring or the firm permit will be automatically revoked.
Revocation is automatic. Once a firm receives final notification of revocation, it’s too late to renew simply by completing the required forms. What’s more, rescinding revocation will not be quick and easy. It's a process that requires action by the full board and cannot be completed administratively, during which time your firm will not be able to operate.
Failing to properly maintain a firm permit is a liability risk for your firm. Early certificate renewal ensures that a firm remains in compliance with the Minnesota Board of Accountancy (BOA).
Be sure to check all individual renewal forms to ensure they are complete before submitting them to the BOA. If possible, have CPAs renew online before applying for a firm permit. Online renewal is faster and reduces risk for error. Most problems arise when a certificate holder submits an incomplete paper renewal. 'Incomplete' usually means the form lacks a signature or payment.
If you submit multiple paper individual certificate renewals under one check, even one incomplete form will cause all the renewals to be considered incomplete.
CPA firm permit renewal form
BOA definition of manager
'Manager' is defined in BOA Statute 326A.01 Subd. 10 as a manager of a limited liability company.
Sole proprietor firm permit renewal
A firm permit is needed if you:
- Provide attest services and issue attest reports
- Issue compilation reports
- Use the title 'Certified Public Accountant' or 'Certified Public Accountants'; the abbreviation 'CPA' or 'CPAs'; or any other title, designation, words, letters, abbreviation, sign, card or device tending to indicate the entity is a CPA firm.
Sole proprietor firm permit renewal form
Sole proprietors in Minnesota must have a firm permit, even if they are not doing compilations, audits or reviews.
If you're found violating this BOA rule 1105.4200, the BOA can take action against you. This also poses a potential liability risk for your firm.
First time firm permit
First time applicants should register for a firm permit by completing the proper firm permit application through the BOA.
Access firm permit applications
Contact the BOA at 651-296-7938 with questions regarding firm permit renewal.
Access the BOA's website
Make the MNCPA your resource. Contact MNCPA customer service at 952-831-2707 or firstname.lastname@example.org with questions.
Individual certificate renewal information
CPE reporting details
MNCPA CPE Log's BOA reporting summary
Note: MNCPA membership dues are separate from CPA certification through the Minnesota BOA.