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 2024, you are required to file an annual report in 2025 even if you did not conduct any business in 2024, and even if you ceased doing the business activities for which you were licensed in New Jersey in 2024.  

The Department recommends downloading and printing the 2024 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 sales finance company required to file an annual report?
A sales finance company is required to file an annual report with the Division of Banking. The report must be filed for the period of January 1, 2024 through December 31, 2024. The annual report is for all business conducted in New Jersey during the year.

Are any questions on the annual report new to licensees who previously filed annual reports?
Questions are similar to those in previous annual reports. For sales finance companies, it is important to pay particular attention to:

• Financial statements
• The dollar volume of NJ loans made plus NJ loans purchased - less than or equal to $10,000; $10,000 to $50,000; and greater than $50,000

Information must be collected from 01/01/2024 through 12/31/2024 and maintained to complete the annual report.

Is there a filing deadline for the annual report?
All annual reports must be filed no later than May 1, 2025 for the January 1, 2024 to December 31, 2024 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?
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 and new branch offices – require the payment of a non-refundable application fee.

How much is the non-refundable application fee?
The non-refundable application fee is $700 for each new license with one business authority. Each additional business authority requires an additional non-refundable application fee of $300 per authority.

What must a sales finance company do to:
1) Change a licensed business address?

• Before filing for an address change be certain that the proposed location is in compliance with NJDOBI standards for acceptable office locations – refer to Bulletin No. 05-10 (PDF)
• 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) – Note: The agreement MUST BE executed between the licensee and the landlord/property owner. If a sublease is involved, there MUST BE written evidence of the landlord's knowledge and acceptance of the subleasing arrangement.
• 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

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