When will license renewals occur?
ALL non-mortgage and non-student loan licenses will expire as of June 30, 2025. It is expected that licensees will be notified about the renewal process no later than early May 2025. Licenses must be renewed prior to June 30, 2025.
Will there be a license
renewal fee for the biennial renewal in 2025?
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 – require the payment of a non-refundable application fee.
How much is non-refundable
application fee?
The non-refundable application fee is $700 for each new license.
Will registrations of new delegates or
locations require a fee?
No. There is NO
FEE for the registration of new delegates
or locations.
What
must a money transmitter do to:
1) Change a licensed business
address?
- Complete
the Change of Address form
- Enclose
an original executed rider to the surety bond reflecting the amended
business address
- 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
-
Enclose an original executed rider to the surety bond reflecting the
amended name and/or the addition of a new alternate or doing business
as name
- 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
4)
Complete a change of control of direct ownership of the licensed
business (25% or more)?
- Complete
a Change of Control Application
- Enclose
a copy of the stock purchase agreement if a corporation or agreement to
purchase ownership interest if a limited liability company as well as
any other documents evidencing the change in ownership - Note:
Partnerships and sole proprietorships CANNOT
file changes of control - New application is required
- Enclose
a copy of the corporate resolution or amended limited liability
operating agreement showing the termination of officer/director/member
positions and the appointments of new officers/directors/members
- Enclose
completed personal certifications for each new officer, director,
member and substantial stockholder/owner (owning more than 10% of
stock/ownership interest)
- Return
the above items to the Licensing Services Bureau, NJDOBI
Note:
There is NO FEE
to complete a change of control.
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