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(225 ILCS 450/17.2) (from Ch. 111, par. 5518.2)
(Section scheduled to be repealed on January 1, 2029)
Sec. 17.2. Inactive status. (a) Any licensed or registered CPA with an active, unencumbered license or registration who notifies the
Department in writing
on forms prescribed by the Department, may elect to place the
license or registration on
an inactive status and shall, subject to rules of the Department,
be excused
from payment of renewal fees and completion of continuing education hours until the Department is notified in
writing
of the licensee or registrant's desire to resume active status.
(b) Any licensed CPA requesting restoration from
inactive status shall
be required to pay the current renewal fee, shall be required to submit
proof of the required continuing education,
and shall be required to comply with any requirements established by rule.
(c) Any registered CPA requesting restoration from inactive status shall be required to pay the current renewal fee and shall be required to comply with any requirements established by rule.
(d) Any licensed CPA or registered CPA whose license is in an inactive
status shall not perform accountancy activities outlined in Section 8.05 of this Act.
(e) Any licensed CPA or registered CPA whose license or registration is in an inactive status shall not in any manner hold oneself out to the public as a CPA, except in accordance with subsection (f) of this Section.
(f) Any licensed CPA whose license is in inactive status may use the title "CPA (inactive)" if: (1) the licensee is not performing accountancy |
| activities outlined in Section 8.05; or
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(2) the licensee is performing governance functions
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| on a non-profit volunteer board using the licensee's accountancy skills and competencies and complies with the following requirements:
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(A) the licensee discloses to the non-profit
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| volunteer board and respective committees that the license is on inactive status; and
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(B) the licensee is not serving as an audit
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| committee financial expert as defined in Section 407 of the federal Sarbanes-Oxley Act of 2002.
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(Source: P.A. 103-309, eff. 1-1-24.)
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