NAC628.110. Retired or inactive status; revocation for nonpayment of fees; reinstatement.

     1. The certificate of a certified public accountant or the registration of a public accountant who holds a live permit and is in good standing may, upon application to the Board by the holder thereof, be placed by the Board on retired or inactive status.

     2. A certified public accountant or a registered public accountant whose certificate or registration is placed on retired status pursuant to subsection 1 must, if he or she thereafter includes any reference to his or her certification or registration on a business card, letterhead or similar document or device, include the word “retired” immediately following each such reference.

     3. Any employment related to the financial functions of business or government, including, without limitation, the supervision of such functions, will be considered as active involvement in the accounting profession, and the holder of the certificate or registrant does not qualify for inactive status.

     4. A former holder of a certificate or a former registrant may be reinstated into the practice of public accounting from retired or inactive status by submitting an application to the Board accompanied by the fee prescribed in NAC 628.016. The applicant must show that he or she has completed at least 40 hours of continuing education during the 12 months immediately preceding the application.

     5. A former holder of a certificate whose certificate has been voluntarily surrendered to the Board must submit:

     (a) A new application for licensing accompanied by:

          (1) The application fee;

          (2) The fee for annual renewal of the permit for any year the fee was not paid before he or she surrendered the certificate; and

          (3) The penalty for late filing for any year fees were not paid before he or she surrendered the certificate as prescribed in paragraph (e) of subsection 3 of NAC 628.016; and

     (b) Proof that he or she has completed at least 40 hours of continuing education during the 12 months immediately preceding the application.

     6. A former holder of a certificate whose certificate has been revoked for nonpayment of fees must submit:

     (a) A new application for licensing accompanied by:

          (1) The application fee;

          (2) The fee for annual renewal of the permit for any year that the fee was not paid before the certificate was revoked; and

          (3) The penalty for late filing prescribed in paragraph (e) of subsection 3 of NAC 628.016 for any year that a fee was not paid before the certificate was revoked; and

     (b) Proof that he or she has completed at least 80 hours of continuing education programs approved by the Board during the 12 months immediately preceding the filing of the new application.

     7. For the purposes of this section:

     (a) “Inactive status” means the voluntary reversion by a holder of a certificate or a registrant to a nonprofessional status outside the fields of public, private or governmental accounting before reaching the age of retirement; and

     (b) “Retired status” means the voluntary termination by a holder of a certificate or a registrant of all activities in the profession of public or private accounting upon the attainment of at least 60 years of age or upon becoming permanently disabled and no longer gainfully employed.

     [Bd. of Accountancy, Art. 12, eff. 5-13-82]—(NAC A 2-6-87; 9-17-87; 12-13-96; R192-97, 1-30-98; R169-99, 12-13-99; R094-01, 10-17-2001)