What is the latest, most recent version of USPAP?

Despite what you might have seen in certain circles, there is no such thing as a 2022 USPAP.  The 2022 USPAP is the same as the 2020-2021 version.  That version was extended 12 months.  So, we have a 2020-2021  version, extended to December 31, 2022.

The easiest way to advertise or state this in your documentation is simply that: I comply to the 2020-2021 USPAP (extended to 12/31/22). If you take a 7 Hour USPAP class from now until 12/31/22, it will be a special class developed just for this year.  It contains no changes, since there are none, but concentrates on other issues, like bias in the appraisal profession. 

www.USPAP7.com

The Appraisal Standards Board created a new reference manual for this unusual situation.  It is sub-titled a “Reference for the 2020-2022 Uniform Standards of Professional Appraisal Practice.” You must purchase this for the 7-hour class-or have it made available by your educational provider. (NAC is an approved TAF Educational Provider.)

This means that as of right now, a new USPAP version will be in force on January 1, 2023.  (Exposure drafts for the new USPAP have already been started.) The 15 Hour initial USPAP class is identical to the 2020-2021 version.  No new materials are needed for that class and the manual is the “old” one.

We have no indication of the next cycle.  It may be 2 years, longer, or even open-ended.  We will just have to wait and see. 

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