(a) Retired status.

1. (1) A licensee who is at least fifty-five (55) years old and has filed a request on a form prescribed by the Arkansas State Board of Public Accountancy stating that he or she has no association with accounting work for compensation may be granted retired status upon approval of the application.
2. (2) Licensees on retired status are not required to comply with the continuing professional education requirements set forth in Subpart 12 of this part or to make payment of annual license fees.

3. (3) The licensee who has been granted retired status immediately becomes ineligible for retired status upon:

   1. (A) Re-entering the workforce in a position that has an association with accounting work for which he or she receives compensation; or
   2. (B) Serving on a board of directors, board of trustees, or in a similar governance position, unless the service is provided without compensation and is for a charity or a civic or not-for-profit organization.

4. (4) Upon the occurrence of either (a)(3)(A) or (a)(3)(B) of this section, the licensee must notify the board and request an application for active status or inactive status (if eligible) and:

   1. (A) Pay the license fee established by the board;
   2. (B) Complete the active or inactive license application; and
   3. (C) If converting to active status, meet the requirements of 23 CAR § 236-1208(c).

(b) Disabled status.

1. (1) Disabled status may be granted to a licensee who submits to the board a statement and a letter from the licensee's physician that identifies the disability and states that the individual is unable to work because of a severe, ongoing physical or mental impairment or medical condition that is not likely to improve within the next twelve (12) consecutive months.
2. (2) Licensees on disabled status are not required to comply with the continuing professional education requirements set forth in Subpart 12 of this part or to make payment of annual license fees.

3. (3) The licensee who has been granted disabled status immediately becomes ineligible for disabled status upon:

   1. (A) Re-entering the workforce in a position that has an association with accounting work for which he or she receives compensation; or
   2. (B) Serving on a board of directors, board of trustees, or in a similar governance position, unless the service is provided without compensation and is for a charity or a civic or not-for-profit organization.

4. (4) Upon the occurrence of either (b)(3)(A) or (b)(3)(B) of this section, the licensee must notify the board and request an application for active status or inactive status (if eligible) and:

   1. (A) Pay the license fee established by the board;
   2. (B) Complete the active or inactive license application; and
   3. (C) If converting to active status, meet the requirements of 17 CAR § 236-1208(c).

(c) For purposes of this section the term "association with accounting work" shall include, but not be limited to, the following:

1. (1) Whether for the public or for an employer, working, supervising, or providing oversight of accounting work performed in the areas of:

   1. (A) Financial accounting and reporting;
   2. (B) Tax compliance, planning, or advice;
   3. (C) Management advisory services;
   4. (D) Accounting information systems;
   5. (E) Treasury, finance, or audit;

2. (2) Representing to the public, including an employer, that the individual is a CPA or public accountant in connection with the sale of any services or products involving accounting work, including such designation on a:

   1. (A) Business card;
   2. (B) Letterhead;
   3. (C) Proxy statement;
   4. (D) Promotional brochure;
   5. (E) Advertisement; or
   6. (F) Office; or

3. (3) Offering testimony in a court of law purporting to have expertise in:

   1. (A) Accounting and reporting;
   2. (B) Auditing;
   3. (C) Tax; or
   4. (D) Management services.

(d)

1. (1) All board rules and all provisions of the Public Accountancy Act of 1975, Arkansas Code § 17-12-101 et seq., apply to an individual in retired or disabled status.
2. (2) Licensees in retired status must use the term "Retired" adjacent to their CPA title.
3. (3) Licensees in disabled status must use the term "Inactive" adjacent to their CPA title.