Pursuant to N.J.A.C. 3:23-4.1, all licensees are required to file an annual report to the Department of Banking and Insurance. Licensees are required to file an annual report after each calendar year in which they were licensed. Because you were licensed in 2022, you are required to file an annual report in 2023 even if you did not conduct any business in 2022, and even if you ceased doing the business activities for which you were licensed in New Jersey in 2022.  

The Department recommends downloading and printing the 2022 Annual Report Worksheet (at right) before completing the online report.

If you have any questions about filing your annual report, please e-mail Consumer Finance Annual Reports at bankingannualreports@dobi.nj.gov.

Thank you in advance for your cooperation in this important matter.

Is a home repair contractor required to file an annual report?
A home repair contractor is required to file an annual report with the Division of Banking. A licensee is required to file an annual report even if you did not provide financing to your clients. Holding a license requires you to file. The report must be filed for the period of January 1, 2022 through December 31, 2022.

• Number of NJ financed home repair contracts executed between 01/01/2022 and 12/31/2022
• Total dollar amount of NJ financed home repair contracts executed between 01/01/2022 and 12/31/2022 - excludes sales tax
• Names of companies/banks to whom financed home repair contracts executed between 01/01/2022 and 12/31/2022 were sold
• Total number of NJ financed home repair contracts executed between 01/01/2022 and 12/31/2022 that were sold
• Liability and workmen's compensation insurance

Is there a filing deadline for the annual report?
All annual reports must be filed no later than May 1, 2023 for the January 1, 2022 to December 31, 2022 reporting period. Annual reports are expected to be filed electronically over the Internet through the State's secure web site.

When will license renewals occur?
Renewals for ALL non-mortgage and non-student loan licensees will be as of July 1, 2023. It is expected that licensees will be notified about the renewal process no later than early May 2023. Licenses must be renewed prior to June 30, 2023.

Will there be a license renewal fee for the biennial renewal in July 2023?
All non-mortgage and non-student loan licensees will pay NO FEE to renew licenses. License renewals will be required to be processed electronically using the Banking Online Services feature. Paper renewals will NOT be available. For information about signing up for Banking Online Services CLICK HERE.

Do applications for new licenses require a fee?
Yes. All new applications – those for new businesses, new branch offices and new home repair salespersons – require the payment of a non-refundable application fee.

How much is non-refundable application fee?
The non-refundable application fee for principal and branch offices is $300 for each new license. The non-refundable fee for home repair salespersons is $60.

What must a home repair contractor do to:
1) Change a licensed business address?

• Complete the Change of Address form
• Enclose a copy of the deed, lease or rental agreement for the new business location (even if a residence)
• Enclose (2) two photographs of the location in which the business sign is visible OR if a residence, copies of letters to the post office and telephone company advising of use of residence for business purposes
• Return the above items to the Licensing Services Bureau, NJDOBI

Note: There is NO FEE to change a business address

2) Change a licensed business name?

• Complete the Change of Legal Name form
• Enclose a copy of the amended Certificate of Incorporation, if a corporation; a copy of amended certificate of formation, if a limited liability company; a copy of amended or new trade name certificate if a partnership or sole proprietorship; an amended Certificate of Authority to do Business in New Jersey if a foreign corporation.
• Return the above items to the Licensing Services Bureau, NJDOBI

Note: There is NO FEE to change a business name or to add a new doing business as or trade name

3) Obtain a duplicate license?

• Request and complete a lost license affidavit
• Return this affidavit to the Licensing Services Bureau, NJDOBI

Note: There is NO FEE to obtain a duplicate license or registration certificate