For those holding an Active status CPA license or a RAP license, statutes require that you participate in a program of learning designed to maintain professional competency. The program must meet the minimum standards of quality of development, presentation, measurement, and reporting of credits in the Statement on Standards for Continuing Professional Education (CPE) Programs jointly approved by NASBA and AICPA or other standards acceptable to the Board.
The CPE reporting (or "fiscal") year runs from July 1 to June 30. CPE must be earned by June 30 and reported by December 31 each year. Nonresidents seeking exemption from Minnesota CPE requirements must claim that exemption every year by December 31.
You do not need to wait until December 31 to report your CPE (or claim exemption). Once you have completed all your CPE, report it through Online Services.Online Services
While you can report your CPE as early as January 1 (six months before the reporting year ends and almost a full year before the reporting deadline), be aware you are only able to enter your CPE for the year once via Online Services. Have all your information gathered prior to beginning. Should you subsequently need to modify your hours, contact the Board office for assistance.
Note: If you did not complete your required CPE by June 30 of the reporting year, you'll need to complete the necessary CPE and send the associated certificates of completion along with all accrued noncompliance fees to the Board office as soon as possible. Fees continue to accrue until you submit the certificates of completion and correct fees to the Board office. See "CPE Non-Compliance" section below. If, upon review, you have further questions, contact the Board office.
If you are newly licensed, when you must begin reporting depends upon when in the year you were licensed.
See MN Rules 1105.3000-1105.3350 for additional information.
The following hour limitations apply during the rolling three-year CPE period:
Self-study courses must be listed on the NASBA CPE Registry as "NASBA-approved."
Instructors, discussion leaders, or speakers who present a learning activity for the first time may receive CPE credit for actual preparation time up to two times the number of CPE credits to which participants would be entitled, in addition to the time for presentation, subject to regulations and maximums established by the Board.
For example, for learning activities in which participants could receive 8 CPE credits, instructors may receive up to 24 CPE credits (16 for preparation plus 8 for presentation). For repeat presentations, CPE credit can be claimed only if it can be demonstrated that the learning activity content was substantially changed and such change required significant additional study or research.
Note to CPE providers not listed above: In order to be considered an approved CPE provider, you must be registered with NASBA's CPE Registry. Please visit NASBA's website for more information.
CPAs are allowed to take instructor-led courses from non-Registry/non-approved sponsors, provided the program contributes to the professional knowledge and competence of the individual CPA, and provided the aggregate hours of the program do not exceed 40% of the three-year 120 hour total. The program must meet the minimum standards of quality of development, presentation, measurement, and reporting of credits in the Statement on Standards for Continuing Professional Education (CPE) Programs jointly approved by NASBA and AICPA or such other standards acceptable to the board.
Note: Self-study courses must be specifically from NASBA-approved Self-Study Sponsors; self-study cannot be taken from non-approved sponsors.
MN Rules 1105.3000 states, "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 MN Statutes326A.08. A licensee not in compliance with this part on June 30 of each year shall be assessed a late processing fee of $50 for the first month, or partial month, of noncompliance and $25 per month, or partial month, of noncompliance thereafter until the date the licensee is in compliance with this part and provides documentation of compliance in writing to the board."Current CPE Fees Chart
Remember: If you are not in compliance with the CPE requirements by June 30th and you need to use "carryback" hours from the subsequent fiscal year, the CPE non-compliance fees continue to accrue until the date you submit your certificates of completion for carryback hours along with payment of the CPE non-compliance fees to the Board.
Each year a percentage of CPAs will be contacted by the Board and required to submit a complete record of CPE for the previous three-year reporting period as part of an ongoing audit process. In cases where the board determines that the hour information supplied by the licensee is not supported by the documentation supplied by the licensee or the hours do not meet the requirements of this chapter, 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 required in part 1105.3000. Fraudulent reporting is a basis for disciplinary action.