(225 ILCS 450/17.2) (from Ch. 111, par. 5518.2)

(Text of Section before amendment by P.A. 103-309)

(Section scheduled to be repealed on January 1, 2029)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 his or her 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 he or she notifies the Department in writing of his or her 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 himself or herself 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) he or she is not performing accountancy activities outlined in Section 8.05; or

(2) he or she is performing governance functions on a non-profit volunteer board using his or her accountancy skills and competencies and complies with the following requirements:

(A) he or she discloses to the non-profit volunteer board and respective committees that his or her license is on inactive status; and

(B) he or she is not serving as an audit committee financial expert as defined in Section 407 of the federal Sarbanes-Oxley Act of 2002.

(Source: P.A. 98-254, eff. 8-9-13.)

(Text of Section after amendment by P.A. 103-309)

(Section scheduled to be repealed on January 1, 2029)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

(2) the licensee is performing governance functions on a non-profit volunteer board using the licensee's accountancy skills and competencies and complies with the following requirements:

(A) the licensee discloses to the non-profit volunteer board and respective committees that the license is on inactive status; and

(B) the licensee is not serving as an audit committee financial expert as defined in Section 407 of the federal Sarbanes-Oxley Act of 2002.

(Source: P.A. 103-309, eff. 1-1-24.)