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Minnesota Jurisdiction for CPE


Last Modified: 4/9/2020


Contents

Important Note:

Board Extends CPE Earning Period for CPE Year FY20 Until September 30:

Licensees may use CPE earned after June 30 but prior to October 1, 2020, to meet the CPE requirements for the 2021 license renewal period, without accruing late earning (CPE noncompliance) fees. The Board passed the motion at its April 30 Board meeting, in response to the COVID-19 crisis and in accordance with hardship provisions in Board rule.

The extension is an accommodation to those who need it, not a requirement for those who don't. Licensees who will have earned all hours needed for CPE FY20 by June 30 need only report those hours, not those earned during the extension period, for FY20 and their 2021 renewal.

CPE hours earned after June 30, 2020, but prior to October 1, 2020, may only be claimed once: either FY20 or FY21, depending upon the needs of the licensee.

CPE late earning fees will begin accruing on carryback hours (CPE earned after September 30, 2020) reported on or after October 1, 2020. CPE must be reported by no later than December 31, 2020, or at the time of renewal—whichever is first—or late reporting fees will accrue. Licensees must be in compliance with CPE requirements in order to renew.

Licensees do not need to "request" this extension; no action is required at this time. More instruction will be provided closer to the opening of the renewal window. Contact the MN Board for more information.

Note from LearnLive: If you wish to add extra time to your MN CPE period ending June 30, 2020, you (or your firm administrator) can add an extension to your status report. Adding an extension will allow you the extra time (until September 30, if needed) and not double-count the credits earned in the extension in your subsequent CPE period. For more information, refer to the MN Board website: http://www.boa.state.mn.us/

Link(s)

Minnesota Board of Accountancy Website

Minnesota Continuing Professional Education Requirements

Upcoming Rule Change(s)

Not Applicable

Compliance Period

A fiscal rolling triennial which looks back over the previous 3 years with the period ending every 6/30 for CPAs, and every 12/31 for Registered Accounting Practitioners (RAPs). A CPE period (CPE year) is 1 year, from 7/1 to 6/30 for CPAs, or 1/1 to 12/31 for RAPs.

Reporting Period and Method

The CPE period ends on 6/30, annually.

Effective 4/28/2014: Beginning in calendar year 2014, licensees holding an active certificate on 6/30 shall report to the Board by 12/31 of each year the CPE hours earned during the 1- and 3-year CPE period ended on 6/30.

Effective 1/1/2010: At each 6/30, licensees holding a certificate with an "active" status shall comply with the 1- and 3-year CPE requirements.

A licensee holding a certificate with an active status shall:

  1. complete the required CPE by 6/30 each year; and
  2. report the required CPE to the Board on a form provided by the Board by 12/31 each year.

Beginning with 7/31/2011 reporting: All CPE reporting will be done online using online services. The Board no longer accepts paper CPE reporting forms.

Requirements

  1. Total Requirement:
    • CPAs: at least 120 credits must be earned during the period.
    • RAPs: at least 90 credits must be earned during the period.
  2. Annual Requirement: (CPAs and RAPs) at least 20 credits must be earned during every year of the period.
  3. Ethics Requirement:
    • CPAs: at least 8 credits must be earned in regulatory ethics or behavioral ethics during the period.
    • RAPs: have a 4 credit Ethics requirement.
  4. Live Instructor Requirement: Updated 1/9/2018: (CPAs) at least 24 hours must be obtained from attending 'group' or 'blended learning' programs.
  5. Approved Programs Requirement: (CPAs) at least 72 hours must be obtained through programs meeting the registry requirements under subpart 1.
  6. Technical Subjects Requirement: Effective 1/9/2018: a minimum of 60 hours must be obtained from 'technical' learning activities as defined in the in the NASBA Fields of Study, July 2016 revision, and incorporated by reference; and.

Restrictions

Effective 4/28/2014: Updated 1/9/2018: The following hour limitations apply during the rolling 3-year CPE period (for CPAs):

  1. Teaching Restriction: a maximum of 60 hours may be claimed for presenting or instructing qualifying courses or seminars;
  2. Writing Restriction: a maximum of 60 hours may be claimed for authoring articles, books, or CPE courses for publication;
  3. Self-Study Restriction: because of the Live Instructor Requirement Self-Study is restricted to no more than 96 of the credits. All self-study must be approved by NASBA and listed on NASBA's CPE Registry.

Effective 9/18/2008: The CPE hour limitations (noted above), do not apply to RAPs.

New Licensees

A newly licensed CPA’s 1st period will begin on the date of licensure and end on the following 6/30. The 2nd period will run from the date of licensure and end on the 2nd 6/30 after licensure. The 3rd period will run from the date of licensure until the 3rd 6/30 after licensure.

A newly licensed RAP’s 1st period will begin on the date of licensure and end on the following 12/31. Their 2nd period will run from the date of licensure and end on the 2nd 12/31 after licensure. Their 3rd period will run from the date of licensure until the 3rd 12/31after licensure.

CPAs: Effective 4/28/2014: The following requirements apply to licensees granted an initial certificate with an active status.

  1. Licensees receiving their initial certificate between 1/1 and 6/30:
    • are exempt from the CPE requirement for the CPE period ended 6/30 in the same year as the date the initial certificate was granted;
    • must complete the 20-hour requirement by 6/30 of the year following the date the initial certificate was granted; and
    • must complete the 120-hour requirement [and the ethics requirement] by the 6/30 3 years after the date in which the initial certificate was granted.
  2. Licensees receiving their initial certificate between 7/1 and 12/31:
    • are exempt from the CPE requirement for the CPE period ended 6/30 in the year following the date the initial certificate was granted;
    • must complete the 20-hour requirement by 6/30 2 years after the date in which the initial certificate was granted; and
    • must complete the 120-hour requirement [and the ethics requirement] by 6/30 4 years after the date in which the initial certificate was granted.

CPAs: Effective 7/1/2004 - 4/27/2014: Licensees granted an initial certificate with an active status have no CPE hour requirement for the year ending 6/30 during which the initial certificate was granted. The 120-hour requirement [and the ethics requirement] is not effective for these licensees until the 6/30 following the 3rd anniversary of the initial certificate issuance, at which time at least 120 hours of CPE [and the ethics requirement] complying with this chapter must be completed. The 20-hour per year requirement is not effective for these licensees until the 6/30 following the 1st anniversary of the initial certificate issuance.

RAPs: A registrant's initial 3-year period starts on 1/1 following the date the individual is initially registered by the Board.

CPE Credit Calculation

Updated 1/9/2018: All:

NOTE: 5/9/2016: we have confirmed with the MN Board that CPE credit increments and calculations are accepted by the Board if they are based upon NASBA/AICPA Standards for Program Development. (Refer to NASBA/AICPA Joint Standards, scroll down to Standard No. 13.)

Teaching and Repeat Credit Calculation

Not specified

Carryover Credit

No carryover of CPE from 1 period to the next is allowed.

A licensee may carryback CPE hours earned after 6/30 to satisfy the requirements of a prior CPE period provided that the late processing fees are paid. Carryback hours used to satisfy the requirements of a prior CPE period must not also be used to satisfy the requirements of the period in which they were completed.

Exemptions

Exception to CPE Requirement:

  1. The Board may make an exception to the requirement for a licensee who is retired or who does not perform or offer to perform for the public one or more kinds of services involving the use of accounting or auditing skills, including:
    • the issuance of reports on financial statements or other compilation communication;
    • furnishing one or more kinds of management advisory, financial advisory, or consulting services;
    • the preparation of tax returns; or
    • furnishing advice on tax matters.
  2. The Board may in particular cases make exceptions to the requirements for reasons of individual hardship including health, military service, foreign residence, or other good cause.
  3. A licensee granted an exception by the Board must place the word "inactive" adjacent to the licensee's CPA title on any business card, letterhead, or any other document or device, with the exception of the CPA certificate, on which the CPA title appears.
  4. A licensee granted an exception by the Board must comply with a reentry competency requirement defined by the Board, before the licensee may discontinue the use of the word "inactive" in association with the CPA title.

Inactive Status: A licensee electing to change the status of the licensee's certificate from a status of "active" to a status of "inactive" must:

  1. notify the Board of the request in writing on a form provided by the Board; and
  2. provide the Board with documentation showing completion of a minimum of 120 hours of CPE required under this chapter during the 3-year period ended 6/30 preceding the effective date of the status change, with a minimum of 20 hours each year.

The change in status from "active" to "inactive" is effective on 1/1 following completion of the items (1) and (2) above.

Reactivation from Inactive Status: A licensee holding a certificate with an inactive status who elects or is required to have an active certificate shall complete at least 120 hours of CPE complying with this chapter during the 3-year period preceding application for an active certificate. Such licensee shall identify and complete a program of learning designed to demonstrate the currency of the licensee's competencies directly related to the licensee's area of service.

Extensions

Failure to report CPE, failure to obtain CPE required by this part, reporting of an amount less than that required, or fraudulently reporting CPE is a basis for disciplinary action (under Minnesota Statutes, section 326A.08). A licensee not in CPE compliance on 6/30 of each year shall be assessed a late processing fees for each month of noncompliance thereafter until the date the licensee is in compliance with CPE and provides documentation of compliance in writing to the Board.

Updated 4/28/2014: The Board shall conduct audits to verify information regarding hours of CPE attendance in order to determine compliance with the CPE requirements of this chapter through inspection of documentation supplied by the licensee. In cases where the Board determines that documentation supplied by the licensee is not sufficient or the programs do not meet the requirements, the Board may grant an additional period of time in which the deficiencies can be cured or the Board may take disciplinary action. Licensees determined not in compliance shall be assessed the late processing fee. Fraudulent reporting is a basis for disciplinary action.

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This page has been accessed 16,050 times. This page was last modified on 8 May 2020, at 22:55.



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