Official Site of The State of New Jersey

BFC-1 Returns Being Replaced with Form CBT-100

Form BFC-1 is being discontinued. For privilege periods ending on and after July 31, 2023, banking corporations and financial business corporations that are separate filers will use Form CBT-100 to file their returns. This also means that BFC-1 filers are now subject to the electronic filing requirements for all tax filings and payments.

Banking corporations and financial business corporations that are members of a combined group are required to be included as a member reported on the CBT-100U, ever since the enactment of mandatory unitary combined reporting. The discontinuation of Form BFC-1 does not impact combined filers.

EFT Codes

Taxpayers that submitted their payments through Electronic Funds Transfer (EFT) must update the codes that they are using.

Banking Corporations

CBF Banking Corporation	From	CBT	To
CBF Banking Corporation – Payment	03011	CBT – Payment	02201
CBF Banking Corporation – Estimated Tax Payment	03012	CBT – Estimated Tax Payment	02101
CBF Banking Corporation – Extension Payment	03013	CBT – Extension Payment	02301

Financial Corporations

CBF Financial Corporation	From	CBT	To
CBF Financial Corporation – Payment	03002	CBT – Payment	02201
CBF Financial Corporation – Estimated Tax Payment	03005	CBT – Estimated Tax Payment	02101
CBF Financial Corporation – Extension Payment	03006	CBT – Extension Payment	02301