Renew and report by Dec. 31
BOA Business
Anne Janotta Erickson, MNCPA membership marketing team leader | October/November 2023 Footnote
Editor's note: Updated October 1, 2023
Thank you for thinking of me!
— Sincerely, Future You
Sure, the Minnesota Board of Accountancy (BOA) gives you until Dec. 31 to renew your CPA certificate and report your CPE. But why wait?
Take a proactive approach to renewing and reporting this year. Not only does it knock one obligation off your to-do list, but it also gives you ample time to fix any mistakes you might make.
Future You (as well as the BOA) will thank you!
CPE reporting
Reporting deadline: Dec. 31, 2023
Reporting period: July 1, 2020–June 30, 2023
- Active CPAs: Report your CPE annually to the BOA. You’re required to maintain 120 CPE credits, including eight ethics credits, within every rolling, three-year period. Make sure you earn a minimum of 20 CPE credits annually and that those credits meet the BOA’s credit requirements.
- Inactive CPAs: You have nothing to report because you don’t have an annual CPE requirement.
Switching from active to inactive? CPE requirements must be met before you will be allowed to convert your certificate to inactive. Report your credits for the CPE year ending on June 30, 2023.
CPA certificate renewal
Renewal deadline: Dec. 31, 2023
All active and inactive CPAs must renew annually.
What if I…
Miss a CPE deadline?
Your CPE is late if you don’t earn enough credits by June 30 or if you miss reporting those credits by Dec. 31. Expect to pay a noncompliance fee. The amount is determined based on the month either the carryback credits or CPE credits are properly reported to the BOA.
Am late to renew my certificate?
That’ll cost you, to the tune of a $50 late fee. But the bigger issue is that you can’t hold yourself out as a CPA or perform public accounting work until you have renewed. This could ultimately impact your firm’s permit.
Are you a new CPA?
Initial CPA certificates expire Dec. 31 of the year issued. This means all new CPAs must renew by Dec. 31.
Your certification date determines when you will need to begin earning CPE. If you earned your CPA certificate between:
Jan. 1–June 30, 2023:
- First CPE year: July 1, 2023–June 30, 2024
- First CPE reporting deadline: Dec. 31, 2024
July 1 - Dec. 31, 2023:
- First CPE year: July 1, 2024 – June 30, 2025
- First CPE reporting deadline: Dec. 31, 2025
Earn a minimum of 20 CPE credits in year one. By year three, earn the full 120 CPE credits and meet all requirements needed to maintain an active CPA certificate.
Learn more at
www.mncpa.org/first-year.
Are you a retiring CPA?
Consider switching to the BOA’s retired certificate status. This option has no CPE or annual renewal requirement. You can request the status change anytime using the BOA’s Retired Request form.
Learn more at
www.mncpa.org/retired.
Questions?
CPE reporting and renewal are rules set by the Minnesota BOA. They can be reached at 612-296-7938 or www.boa.state.mn.us.
We’re here for members! Contact the us with your reporting or renewal questions at 952-831-2707 or customerservice@mncpa.org or visit www.mncpa.org/renewal to learn more.
Sidenote: Use your full name!
The Minnesota BOA has noticed an uptick in CPAs using nicknames rather than full names on paperwork. Please use the full name listed on your CPA certificate when submitting documents to the BOA.
