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Electing or Imposed Inactive Status

Certified designees who wish to defer recertification compliance and reporting due to extended inactivity in business valuation, financial forensics, litigation consulting, or for other reasons such as unemployment or a medical condition, but do not want to lose their certification, may elect “Inactive” status for up to five years. Under this election (which is automatically imposed for noncompliance with recertification), the designees cannot use his or her NACVA designation in any capacity, i.e., on business cards, curriculum vitae, signed reports, firm/company website, company letterhead, yellow pages, other organization websites, social media (LinkedIn, Facebook, etc.), etc.—and will have to fulfill his or her recertification requirements for one reporting period to reactivate.

If reactivation occurs within one year, the designee will keep his or her original date of certification, and will continue on the original recertification cycle. If reactivation occurs after one year, the designee’s effective date of certification will not be changed, but they will be placed on a new three-year recertification cycle.

Designees who have gone more than three, but less than five years as Inactive, are required to take certain courses to fulfill part of their CPE recertification requirement. This is to assure they are abreast of recent industry developments. Five or more years of Inactive status require that one retake either the CVA (for CVAs/ ABARs/CBAs/MCBAs) or MAFF exam; and if seven or more years, CVAs/ABARs/CBAs/MCBAs are required to submit a sample Case Study or actual sanitized Fair Market Value (FMV) valuation report (FMV as defined by Revenue Ruling 59-60).

Designees who cancel completely (or are canceled by NACVA for non-payment of fees) who want to reestablish their designation may do so, but will be assessed a reactivation fee. Once the designee does so, he or she must then reinstate his or her status from Inactive to Active following the guidelines above.

Special Consideration for Active Military Service During Deployment
  1. Upon notification and prior to deployment, the NACVA required annual fees will be suspended (put on hold) for the duration of deployment;
  2. When the designee returns from active duty, required annual fees will be reinstated;
  3. If recertification became due during the period of deployment, such designee is granted one year from when he or she returns to fulfill his or her recertification requirements.