You do not need to wait for the reporting deadline of December 31 to report your CPE. Once you have completed all your CPE, report it online anytime after June 30 using Online Services. You are only able to enter your CPE for the year once via Online Services, so be sure you have all your information gathered prior to beginning.
Note: If you did not complete your required CPE by June 30th 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 to the Board office. See CPE Requirements information below. If, upon review, you have further questions, contact the Board office.
See Minnesota Rules 1105.3000 - 1105.3350 for additional information.
- CPE is completed on a fiscal year basis - July 1 to June 30.
- 120 hours, with a minimum of 20 hours per year, are required over a three-year period.
- 8 hours of ethics training must be completed in each three-year period.
- CPE is reviewed on a rolling three-year basis. In any given three-year period, you must have 120 hours, with a minimum of 20 hours per year and 8 hours of ethics.
- Carry forward of hours is not allowed.
- Carry back of hours is allowed provided the CPE noncompliance fees are paid pursuant to Minnesota Rules 1105.3000 E.
- New CPAs are given a grace period in accordance with Minnesota Rule 1105.3000 G.
Statement on Standards for CPE(Issued jointly by the AICPA and NASBA)
The following hour limitations apply during the rolling three-year CPE period:
- A maximum of 60 hours may be claimed for presenting or instructing qualifying courses or seminars;
- A maximum of 60 hours may be claimed for authoring articles, books, or CPE courses for publication;
- At least 24 hours must be obtained from attending instructor-led programs (not self-study);
- A maximum of 24 hours may be obtained from programs in the subject area of personal development; and
- At least 72 hours must be obtained through programs meeting the registry requirements under Minnesota Rule 1105.3100, subpart 4.
Self-study courses must be listed on the NASBA CPE Registry.
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 state boards. For example, for leaning 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.
Approved CPE Sponsors
- Courses listed on the NASBA CPE Registry.
- The office of the Legislative Auditor or State Auditor, if a quality review has been completed in the last three years and an unmodified report on such a review has been filed with the Board. This quality review must be similar in scope to a system review level quality review conducted on a CPA firm.
- CPA firms who have had a system review level quality review completed in the last three-years and an unmodified report on such review has been filed with the Board.
- Colleges and Universities whose academic programs qualify an applicant to sit for the CPA examination. (To convert college credits to CPE credits - one semester credit is equal to 15 CPE credits; one quarter credit is equal to 10 CPE credits.)
- CPE programs sponsored by professional organizations recognized by the Board as Report Acceptance Bodies pursuant to part 1105.5300.
- CPE programs sponsored by professional organizations recognized by another state's board of accountancy.
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 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. Non-approved CPE does not include self-study.
Documentation for non-registry programs must consist of the following:
- a certificate of attendance from the program sponsor containing the name and contact information of the sponsor, participant's name, title and description of the content of the program, the date of the program, the location of the program, type of instructional/delivery method used, the number of CPE hours for which the licensee attended, and verification by the CPE program sponsor representative;
- a copy of the detailed timed agenda for the program; and
- a statement by the licensee describing how the program contributes to the licensee's professional knowledge and competence.
Minnesota Rule 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 Minnesota Statutes, section 326A.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."
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 will be 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. Licenses determined not in compliance shall be assessed the late processing fee required in part 1105.3000. Fraudulent reporting is a basis for disciplinary action.