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CPA/LPA Renewal

Do I renew this year?
All CPAs and LPAs renew each June 30th.
 

What is the deadline to renew?
Renewals must be postmarked or renewed online at www.licensediniowa.gov on or before June 30th. If postmarked or renewed electronically after June 30 the late fee (the renewal fee + 25% penalty) must be included. The online system is available annually from May 15 to July 30. Licenses not renewed will lapse automatically on July 31. After that date, reinstatement is required.
Reinstatement requires completing the paper reinstatement form. The form is available on the board's website at http://www.plb.iowa.gov. Requirements to reinstate include paying an additional $100 penalty + $25 per month of lapse, providing evidence (proof of attendance) of claimed CPE and a written statement outlining professional activities from the June 30 deadline to the date of application to reinstate.
Additionally, the board may impose discipline for continuing to practice accounting while using the title "CPA" or "LPA" after June 30.
 

How can I renew online?
When you receive your renewal notice you can renew electronically using our secure website 24 hours a day, seven days a week at www.licensediniowa.gov. You need your certificate number, the last four digits of your social security number, and a MasterCard, Visa or Discover. Report total hours of CPE earned. 120 hours earned in the preceding three calendar year period are required. Hours earned must include during the prior three years at least 4 hours of ethics for everyone and 8 hours of SSARs if you are responsible for financial statement presentation.
What is the continuing education reporting period for renewals?
The reporting period for continuing education is January 1 thru December 31, for the prior three years with 120 hours required.
What if I am a resident of another state? Do I report CPE?
If you are a resident of another state that has a mandatory continuing education requirement and you comply with that state’s requirements, select your resident state in the affidavit section of the online renewal system in lieu of completing the CPE reporting section.
 

What if I haven’t had my certificate for the full three years?
At the first annual renewal date of June 30 that is less than 12 months from the date of obtaining your initial certificate or license, you are not required to report continuing professional education.
At the second annual renewal date of June 30 that is more than 12 months, but less than 24 months, from the date of your initial certificate or license, you shall report 40 hours of
continuing professional education earned in the one-year period ending December 31 prior to the June 30 renewal date.
At the third annual renewal date of June 30 that is more than 24 months, but less than 36 months, from the date of your initial certificate or license, you shall report 80 hours of continuing professional education earned in the two-year period ending December 31 prior to the June 30 renewal date.
 

How much of the required CPE may be in self-study?
You may claim 50% of the 120 hours (60 hours) in formal self-study for the three calendar year reporting period. Webinars and other “interactive” courses are deemed to be coded in the Other category.
 

How do I determine if a program is approved by the board?
Board rule 10.5(1) states, “The overriding consideration in determining whether a specific program qualifies as acceptable continuing education is that it be a formal program of learning which contributes directly to the professional competence of an individual permitted to practice in this state. It will be left to each individual permit holder to determine the course of study to be pursued. Thus, the auditor may study accounting and auditing, the tax practitioner may study taxes, and the management advisory services practitioner may study subjects related to such practice.”
The board does not pre-approve programs or instructors. We follow NASBA guidelines. Refer to www.nasba.org for guidelines.
What if I am short CPE?
1. Renew as inactive and pay the reduced fee. Once you have the required 120 hours in the prior three year period from the date of your application, send in the Change of Status form available on our website at http://www.plb.iowa.gov found under the “Applications – CPA and LPA” link, along with the $50 licensing fee. During the time you are licensed as inactive, you CAN NOT hold yourself out as a CPA/LPA or use the CPA/LPA title in any way.
2. File your renewal application and fee by June 30 and include a letter stating the circumstances that caused you to be short and a plan to obtain the additional hours in a timely manner. The Board will evaluate the information that you provided and determine whether to grant an extension due to hardship as provided in 193A-10.3(6). If the board determines that an extension to complete the hours is unwarranted, the board may impose a civil penalty and additional educational requirements. This option enables you to continue to use the CPA title, but if discipline is imposed you, the discipline becomes a permanent part of your record.
 

Do I need to report continuing education if I am inactive?
No. The board does not require CPE for inactive registration.
 

Where will my renewal notice be mailed?
Around the week of May 15, a POSTCARD reminder is mailed to your current preferred mailing address. The notice is a courtesy. Not receiving one does not relieve you of your responsibility to renew your professional license in a timely fashion.
 

How do I inform the board of my address change?
Update your name and address when renewing online. If you need to inform the Board in the interim, fill out the Change of Address form on our website.
 

What is the fee for firm renewal?
There is a $100 permit fee. The firm must renew online or a form must be downloaded and completed reflecting peer review information and returned by the deadline of June 30 (postmarked, not metered mail). After that date, the late fee (renewal fee + 25%) must be included. The online system is available May 15 to July 30. Permits not renewed will lapse automatically on July 31. After that date, a firm will be required to reinstate which requires paying additional penalties and providing a written statement outlining professional activities from June 30 to the date of the application to reinstate. The board may impose discipline on a firm for continuing to offer services as a "CPA" or "LPA" firm during the period of the permit was lapsed.

Printed from the website on October 16, 2017 at 8:38pm.