Kentucky CPAs must renew their license every two (2) years. CPAs with odd-numbered licenses renew their license in odd-numbered years. Those with even-numbered licenses renew their license in even-numbered years.
Online Renewal notices are mailed in late June to the mailing address on file at the State Board Office. It is the responsibility of each licensee to maintain a current mailing address with the Board to receive renewal notices, newsletters and other information. Notifying the Kentucky Society of CPAs of an address change does not change the address on file at the State Board office.
Every year a number of CPAs forget to renew their license. The Board considers failure to renew the license a serious matter. Be sure to maintain a current mailing address with the Board and renew your license on time!
The renewal fee is $100 for a two-year license. Renewals must be completed on or before August 1st of a renewal year. Renewals completed after that date are considered late and a late filing penalty of $100 is assessed. (See "Failure to Renew the License" below for late filing requirements.)
Outstanding Student Loans
KRS 164.772 requires that licensee's provide information regarding whether or not they have any outstanding student loans. This statute also requires the Board to withhold renewing the license of a CPA in default on a student loan. Therefore, a question appears on the license renewal regarding this matter. It should be noted that failure to answer this question will not allow you to continue with the online renewal process.
Licensees are responsible for providing correct information on the CPE hours they completed when they renew their licenses. The Board audits the renewals annually for accuracy and compliance with the CPE regulation.
Failure to Renew the License
If not renewed on or before August 1st, the license automatically expires and you cannot practice public accounting or use the title, "CPA" until the license is renewed. Pursuant to KRS 325.330(6)(c), failure to receive a renewal notice does not constitute an adequate reason for failing to renew the license prior to August 1st. Between August 2nd-September 1st you may renew your license and pay $200.
If you fail to renew the license by September 1st, you must fulfill the reinstatement requirements of 201 KAR 1:140
, Section 3 to retain your license.
Voluntary Surrender of License
If you do not wish to retain your CPA license, you may voluntarily surrender it. To surrender the license, notify the Board and indicate that you wish to voluntarily surrender your license. This requires a Board action and must be received at least 7 working days prior to the next scheduled Board meeting.
There are instances where voluntary surrender of the license is not an option. While this is not an all-inclusive list, the following are some examples of where voluntary surrender is not allowed:
A disciplinary action is pending before the Board;
Failure to properly comply with the CPE audit; and
Failure to properly comply with peer review requirements.