Letter from Commerce Commissioner, Mike Rothman
For the third year, Commissioner Rothman issued a letter to more than 9,600 licensed CPAs in Minnesota to remind tax preparers of the signs of senior financial abuse. As CPAs prepare tax returns for their senior clients, the Commissioner urges tax professionals to use their expertise to help spot elder fraud and financial abuse.
The lastest issue of The Board Report is now available.
The Board will publish the Notice of Adoption in the April 21, 2014 State Register. The rules will be effective on April 28, 2014
2014 Renewals Now Available
Renew your CPA Certificate or Sole Proprietor firm permit online with a Master Card® or Visa®. If you wish to pay with a check or money order, you may download and submit a paper renewal form.
Registered Accounting Practitioners (individuals and firms) and CPA firms may renew by downloading and submitting a paper renewal form to the Board office along with your check or money order payment.
Continuing Professional Education Reporting
|If you failed to report CPE by:||The noncompliance fee is:||Complete and submit:||If you failed to complete CPE by*:||The noncompliance fee is**:|
|12/31/2013||$125||2014 CPA certificaterenewal form and required fees||6/30/2013||$275|
|7/31/2013||$250||7/31/2013 CPEreporting form and required fees|
|12/31/2012||$425||2013 CPA certificaterenewal form and required fees||6/30/2012||$575|
|7/31/2012||$550||7/31/2012 CPEreporting form and required fees|
|*If you completed CPE hours after the June 30th deadline(s), you must include copies of the certificates of completion for those hours.|
|**The above-referenced fees reflect the rates if submitted in April 2014.
Minnesota Rule 1105.3000 (G)(2012)
During the 2013 Legislative Session, the Legislature passed a Bill that modified licensure and renewal requirements for CPAs and CPA firms.
Licenses for individuals will expire EVERY YEAR on December 31st. The three-year renewal cycle will be phased out beginning with licenses issued or renewed after January 1, 2014.
- If your license expires on December 31, 2013 and you renew on time, your license will be renewed for three years and will expire on December 31, 2016.
- If you renew late, your license will be renewed for one year and will expire on December 31, 2014.
- Licenses with an expiration date of December 31, 2014 or later will be renewed for one year upon expiration.
A CPA firm that is a network firm, as defined in the AICPA Code of Professional Conduct, may use in its name a common brand name or network name part, including common initials. When offering or rendering services that require independence under AICPA standards, the firm must comply with the AICPA code’s applicable standards on independence.
Fee Changes (Effective August 1, 2013)
Renewal of Active Certificate: $100/year
Renewal of Inactive Certificate: $25/year
Renewal of RAP firm permits: $100/year
Initial issuance of certificate (new license): $150
Sole practitioner firm permits remain: $35/year