Find general answers to your questions regarding who needs a firm permit, firm name requirements, peer report requirements, and firm permit renewal here. Please consult the statutes and rules for details; links are provided in the information below.
CPA Firms RAP FirmsMaking sure the Board has your firm's current address is not only the best way to ensure you receive information regarding licensing requirements, renewals, and statutes and rules changes, it's actually an obligation of your firm's licensure. See MN Rules 1105.1100.
Submit firm address changes by using the same form as that for firm name changes.
CPA Address / Firm Name Change RAP Address / Firm Name ChangeYour firm address is one several key pieces of information about which you need to keep the Board updated. See MN Rules 1105.4100.
A firm can take the form of a sole proprietorship, a corporation, a partnership, or other organizational forms. In general, firms that need a permit to practice in Minnesota include any firm with an office in Minnesota that: (1) performs attest services, (2) performs compilation services (certain exceptions exist); or (3) that uses the title "CPA" or "CPA firm." Any firm that does not have an office in this state but performs attest services for a client having its headquarters in this state also needs a permit. Refer to MN Statute 326A.05 and MN Rule 1105.4200.B for specifics.
Business registration and related questions are handled by the Secretary of State's office. Note that if your business is a corporation or partnership, you must maintain your registration with the Secretary of State in order to retain your permit with the Board (MN Rules 1105.4000(E)).
MN Secretary of State WebsiteSubmit your initial application form and required documentation to the Board. Incomplete applications expires 6 months from receipt by the Board.
See the application form for instructions and fee. Details can be found in the previously referenced statute and in MN Rules 1105.4000.
Sole proprietors* use one form; all other entities use another:
* Note: If you are a single-member firm but registered with the Secretary of State, you are not legally considered a "Sole Proprietor"; use "All Other CPA Firm Types" forms.
Sole Proprietor Initial Application
Applications are reviewed as soon as received and complete.
All Other CPA Firm Types Initial Application
Applications are reviewed at Board meetings; see the Board calendar for dates.
All firm permits expire December 31, regardless of the date issued.
A firm must not use any name identifying itself as a CPA firm until the name has been registered with and approved by the Board. To protect the public, the Board requires that CPA firm names not be misleading or fictitious. See MN Rules 1105.6300-1105.6400.
Note: Staff members do not have the authority to advise on or preapprove firm names; please consult and be guided by the information published in the rules, then submit your name request with your application to the Board.
To request a name change, simply complete the appropriate Name Change Request Form.
Sole proprietors use one form; all other entities use another:
Sole Proprietor Name Change Request All Other CPA Firms Name Change RequestName change requests are reviewed at Board meetings; see the Board calendar for dates. Be reminded that CPA firms cannot hold out or practice under a name that has not been approved by the Board.
Firm permits expire without exception on December 31 each year. In the fall, the permit renewal window opens.
Sole proprietor firms who do not perform work that requires they undergo peer review may renew their permit through Online Renewal (renew your individual license, then select to continue with renewal of sole proprietor permit):
Online Renewal
Sole proprietors that must undergo peer review and all other CPA firms must submit a paper renewal form:
Renewal Forms
Note: Sole proprietors must renew their individual CPA license with an active status or they will not be able to renew their sole proprietor firm permit. No firms can renew their permits until a two-thirds majority of partners, members, managers, shareholders, directors and officers who hold a certificate and whose principal place of business is in this state renew their individual certificates with an active status. All (100% of) such members must be renewed within 60 days of license expiration or the firm's permit is automatically revoked. See MN Rule 1105.4000 (D) and 1105.4150 for details.
The firm will need to reapply for an initial firm permit.
If your firm is sold, merged or dissolved, notify the Board by email or mail within 30 days after the event. The Board will mark the firm as dissolved/no longer requiring permit renewal.
If your foreign firm no longer requires a permit under MN Statute 326A.05 and MN Rule 1105.4200.B, notify the Board by email or mail within 30 days after the event. The Board will mark the firm as no longer requiring permit renewal.
See MN Rule 1105.4100 for these and other required notifications.
Basic information for initial firm applicants: All firms that apply for a Minnesota permit and who have in the current year or expect in the coming year to perform audits, reviews or compilations of financial statements or examinations of prospective financial information must submit with their initial application a copy of any peer review completed within the last year. See the application form for more information. For a new firm that has not yet undergone peer review, the peer review is due to the Board 21 months from the report date of the initial attest or compilation engagement. Three years from that initial report date is when the firm's next peer review will be due to the Board.
The peer review period for a firm (beginning and ending months) cannot be changed without prior approval from the Board. For firms that have not yet performed services that require peer review, the beginning month of their first peer review period will be established by the reviewer.
Basic information for firms already holding a Minnesota permit: Firms who perform attest or compilation services must undergo and submit to the Board the results of a peer review once every three years. Information on how and what to report to the Board can be found in MN Rules 1105.5400.
Firms that do not perform attest or compiliation services and do not foresee performing such services in the coming year may claim exemption from peer review at the time of renewal. If they subsequently perform those services, they must immediately notify the Board in writing and submit to the Board a peer review 21 months from the report date of the initial attest or compilation engagement—or sooner, at the request of the firm.
Detailed information: The above is generalized information on peer review requirements. Please consult the rules for specifics on all definitions, requirements, conditions, and exceptions: MN Rules 1105.4300 and 1105.4600 - 1105.5500.
A "RAP firm" can take the form of a sole proprietorship, a corporation, a partnership, or other organizational forms. In general, firms that need a permit to practice in Minnesota include any firm with an office in Minnesota that performs compilation services* (and is not a CPA firm) or that uses the title "RAP" or "RAP firm." Any firm that does not have an office in this state but performs compiliation services* for a client having its headquarters in this state also needs a permit. Refer to MN Rule 1105.7100 and 1105.7300 for specifics.
* These must comply with Statement on Standards for Accounting and Review Services (SSARS).
Business registration is handled by the Secretary of State's office.
MN Secretary of State WebsiteSubmit your initial application form and required documentation to the Board. Incomplete applications expires 6 months from receipt by the Board. Details can be found in the rules referenced in the previous section.
All RAP firm types use the same form:
Applications are reviewed at Board meetings; see the Board calendar for dates. Once approved, the firm permit is valid through December 31.
A firm must not use any name identifying itself as a RAP firm until the name has been registered with and approved by the Board. To protect the public, the Board requires that RAP firm names not be misleading. See MN Rules 1105.7450.
Note: Staff members do not have the authority to advise on or preapprove firm names; please consult and be guided by the information published in the rules, then submit your name request with your application to the Board.
To request a name change, simply complete the RAP Firm Name Change Request Form.
RAP Firm Name Change RequestName change requests are reviewed at Board meetings; see the Board calendar for dates. Be reminded that RAP firms cannot use—in any way—a name that has not been approved by the Board.
Firm permits expire without exception on December 31 each year. In the fall, the renewal window opens. All RAP firms must submit a paper renewal form:
RAP Firm Renewal FormsNote: No RAP firm can renew its permit until all partners, members, managers, shareholders, directors and officers who hold a registration and whose principal place of business is in this state individually renew their registration. See MN Rule 1105.7100 and 1105.7300-1105.7400 for details.
The firm will need to reapply for an initial RAP firm permit.
If your firm is sold, merged or dissolved, notify the Board in writing within 30 days after the event. The Board will then close your firm permit.
RAP firms are subject to the same peer review requirements as CPA firms. See MN Rules 1105.7400 and the CPA peer review section above.
For Information about Employment within the State visit the Minnesota Management and Budget website.
The Minnesota Board of Accountancy is an affirmative action / equal opportunity employer. The Board does not discriminate in employment on the basis of race, color, creed, religion, national origin, sex, marital status, disability, public assistance, age, sexual orientation, or membership on local human rights commission.
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