The North Dakota State Board of Accountancy voted to increase the late filing fees from $50 to $100 beginning with the 2019-2020 renewal season at the July regular meeting. The board also decreased the amount of reporting time previously granted for extensions from October 31 to August 31.
There tends to be a bit of confusion when knowing what is due when, why, and how. Renewal season brings two requirements:
1. License Renewal and
2. CPE Reporting, if required (those who do not hold out or claim inactive are not required to report CPE.)
In North Dakota both renewals are combined on one form:
License/registration- where one states how they plan to use the CPA designation and
CPE report- where required CPE is reported to the North Dakota State Board of Accountancy for examination.
North Dakota CPA license registration and CPE reports are due at the same time each year on June 30.
Any license registration not renewed by July 31 will be assessed a late fee of $100 and will not be considered in good standing. If the license has not been renewed by August 31 it will be considered lapsed and will be involuntarily relinquished. In order to regain your license, you must complete the reinstatement application and write a letter to the board to request reinstatement of your license. Reinstatements are only considered at quarterly board meetings.
All CPE reported is to be attained between July 1 and June 30 annually and reported by June 30. If CPE is attained between July 1 and June 30 but not reported timely it is considered late. If the full amount of CPE required is not attained between July 1 and June 30 it is considered incomplete. Extensions will not be granted for incomplete CPE without Board review and disciplinary action will be considered. What does this mean? The board can assess disciplinary action as little as taking extra CPE courses or assess fines up to $1,000 depending on the case.
What Should I do Now?
Now is the best time to plan your CPE for the upcoming season. Be sure you understand how you use your designation and attain the CPE required for that status. Don’t get caught short or late. Remember beginning June 30, 2022 the rolling 3-year look back will increase for CPAs who register as “All others who hold out” to 120 CPE credits (to include 6 ethics credits) with a minimum of 20 credits per year.
Q: When is my license registration and CPE report considered late?
A: Any license registration and CPE report not filed by June 30 is considered late on July 1.
Q: When are late fees assessed?
A: Late fees are assessed August 1 on license registrations and CPE reports not filed by July 31.
Q: When can disciplinary action be taken?
A: Any license not renewed, or CPE not reported by August 31 are taken to the October board meeting for disciplinary action.