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.   

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.

Who is required to file an annual report with the Division of Banking and pay an annual assessment?
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.  

How is the assessment bill for each licensee determined?
The law and corresponding regulations provide detailed information on the formula for determining how your bill is calculated. In brief, your bill is based on a combination of two factors: 1) a minimum assessment charged to each licensee, based on the type of license and 2) a calculation of the percentage of your business volume as a percent of total business volume in New Jersey for all licensees.

What is the deadline for filing an annual report?
The deadline for filing an annual report is May 1, 2025.

Why is an annual report required to be filed?
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.  

What if I ceased doing the business for which I was licensed in New Jersey?
If you have ceased doing business please contact bankingannualreports@dobi.nj.gov to properly surrender your license in accordance with N.J.A.C. 3:5-4.4.

Is there a fee for filing the annual report?
There is no fee for filing the annual report.

What fees exist under Dedicated Funding?

• Non-refundable license application fees for ALL initial licenses – business entities, branch offices, mortgage licensees, home repair salespersons
• Non-refundable registration application fees for ALL new mortgage originators
• Non-refundable re-registration application fees for mortgage originators changing employing mortgage licensees
• All fines and penalties

When will I pay the annual assessment?
Payment of the annual assessment is due to the State within 30 days of the date of the invoice.