(1) A certificate holder, license holder, or permit holder who is fully retired from active employment in the practice of public accounting may submit a retired status request to the board. Upon approval of the request, the individual will be exempt from paying annual renewal fees and CPE requirements. They may use the designation "CPA (Retired)" or "LPA (Retired)."
(2) An individual on retired status may apply for their certificate, license, or permit to practice to be restored to active status within two years of the last time the certificate, license, or permit to practice was renewed by complying with all current year renewal requirements. A retired certificate, license, or permit to practice that is not restored to active status within two years of the most recent renewal date automatically terminates. Once a certificate, license, or permit to practice status has terminated, it may not be restored to active status and a new original license must be obtained through application, and all current licensing requirements must be met.
(3) Montana permit holders who use their Montana permit to practice to avail themselves of practice privileges in other jurisdictions may not place their Montana permit to practice on retired status.