Make sure to plug in both 8-pin EPS power connectors. If it still beeps, try to remove CPU2 and only use CPU1 then boot. If it still beeps, looks like you've got a dud motherboard.
Thanks for the feedback I definitely had both 8-pin power cables connected. I tried removing the motherboard from the case to check for any kind of short and there was none. With the board outside the case I tried powering it on and still no luck.
I decided to take out the entire motherboard and connect it to the PSU and case cabling from my other case leaving the motherboard hanging outside temporarily. I was able to power it on and get it to post as well as get into the BIOS to confirm the CPUs and memory are being seen just fine. I'm guessing it's not the removable module part of the PSU but perhaps the circuitry or cabling inside the other case that may be causing the issue?