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Elected or Imposed Inactive Status

Elected Inactive Status
Credential 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 Inactive for non-compliance with recertification, i.e., not submitting an Attestation form attesting to having complied with recertification), the designees may not use his/her NACVA designation in any capacity, i.e., on business cards, curriculum vitae, signed reports, firm/company website, company letterhead, other organization websites, social media (LinkedIn, Facebook, etc.), etc.—and will have to fulfill his/her recertification requirements for one reporting period to reactivate, and attest to such compliance on the form provided. Applicable fees will be assessed at that time. Non-member CVA/MAFFs cannot elect Inactive status. Inactive status is only available to members.

If reactivation occurs within one year after their inactive date, the designee will keep his/her original date of certification and will continue on the original recertification cycle. If reactivation occurs in years two and three from the inactive date, the designee’s effective date of certification will not be changed, but they will be placed on a new three-year recertification cycle. Applicable fees will be assessed at that time.

Designees who have gone years four and five from their inactive date, are required to take at least two Recommended Courses to fulfill part of their CPE recertification requirement and attest to such compliance on the form provided. This is to ensure they are abreast of recent industry developments. Designee’s effective date of certification will not be changed, but they will be placed on a new three-year recertification cycle. Applicable fees will be assessed at that time.

Designees who have gone years six and seven from their inactive date, require that one reapply for the designation and retake either the CVA (for CVAs/ABARs/CBAs/MCBAs) or MAFF exam. Designees who have gone year eight and beyond from their inactive date, CVAs/ABARs/CBAs/MCBAs, are required to reapply for the designation, retake the applicable exam, and (for the CVA) submit an actual and sanitized FMV business valuation report prepared within 12 months of the submission date**. Designee’s effective date of certification will change to the date designee passes the exam, or the date designee successfully passes the valuation report, whichever applies, and they will be placed on a new three-year recertification cycle. Applicable fees will be assessed at that time.

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 reinstatement fee. Once the designee does so, he/she must then reinstate his/her status from Inactive to Active following the guidelines above.

*Elected Inactive: Typically, when CVAs/MAFFs elect inactive status it comes at or around their due date for recertification which is annually at December 31st. However, sometimes they elect inactive well before their recertification due date and do so because they are not active in the discipline and to reduce their membership dues. In such instance, the “electing inactive designee” must comply with all the restricted uses. If such electing inactive designee chooses to reactivate prior to their next scheduled recertification due date, all they need to do is pay the full Practitioner Membership dues (or credential designee fee if they are not current). If the electing inactive designee remains inactive after their next scheduled recertification due date, they will then be subject to the reactivation provisions for years one through seven (or more) detailed above with the starting date being January 1 of the year following their scheduled December 31 recertification due date.

**Exception: If a CVA has been Inactive for eight or more years, but during the entire time has maintained an active ABV designation (from the AICPA) which requires attesting to ongoing experience in business valuation, such CVA is exempt from the actual report submission requirement.

Imposed Inactive Status

Credential designees who do not comply with recertification by December 31 (i.e., not submitting an Attestation form attesting to having complied with recertification) will be placed on imposed Inactive status and will be assessed a recertification non-compliance fee at the time of recertifying their credential. Designees holding Inactive status who actively use and/or hold themselves out as an Active CVA/MAFF/ABAR/CBA/MCBA could be subject to disciplinary measures taken by NACVA’s EOB where this infraction is discovered. All applicable fees must be paid before full reinstatement occurs.

Special Consideration for Active Military Service During Deployment
NACVA supports those in active military service and provides special consideration during deployment.

Upon notification and prior to deployment, the NACVA required annual fees will be suspended (put on hold) for the duration of deployment;
When the designee returns from active duty, required annual fees will be reinstated;
If recertification becomes due during the period of deployment, such designee is granted one year from when he/she returns to fulfill his/her recertification requirements.

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