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24.201.537    RETIRED STATUS

(1) A licensee who is fully retired from active employment in the practice of public accounting may submit a retired status request to the board if the licensee:

(a) holds a license in good standing; and

(b) is at least 60 years of age; or

(c) has held a license in good standing for at least 20 years from a substantially equivalent jurisdiction as determined by NASBA's national qualifications appraisal service or a successor organization.

(2) An applicant for retired status must affirm:

(a) they understand the scope of limitations on what services they offer;

(b) agreement not to use their retired status in any way which could be misleading; and

(c) maintenance of professional competence, without a specific CPE requirement, when offering any of the permitted volunteer services.

(3) A retired licensee is required to renew on an annual basis, but is exempt from CPE requirements. It is the sole responsibility of the retired licensee to keep the board informed of current contact information.

(4) A retired licensee may:

(a) use the designation "CPA (Retired)" or "LPA (Retired)"; and

(b) provide the following, volunteer, uncompensated services:

(i) tax preparation services;

(ii) government-sponsored business mentoring programs; and

(iii) serve on the board of directors for a non-profit organization.

(5) An individual on retired status may apply for their license to be restored to active status by complying with all current year renewal requirements, paying the restoration fee, and providing documentation of compliance with continuing education rules of the board under ARM 24.201.2106, within the three years immediately preceding the application for restoration to active status.

(6) Montana licensees who use their Montana license to avail themselves of practice privileges in other jurisdictions may not place their Montana license on retired status.


History: 37-1-131, 37-50-203, MCA; IMP, 37-1-131, 37-1-141, 37-50-101, 37-50-325, MCA; NEW, 2009 MAR p. 9, Eff. 1/16/09; AMD, 2010 MAR p. 2574, Eff. 10/29/10; AMD, 2012 MAR p. 1363, Eff. 7/13/12; AMD, 2014 MAR p. 2849, Eff. 11/21/14; AMD, 2016 MAR p. 1016, Eff. 6/4/16; AMD, 2017 MAR p. 2283, Eff. 12/9/17.

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