The State of New Jersey
NJ Department of Banking and Insurance

Home > Banking Division > Dedicated Funding - What is it?
Please Note:

The online annual reporting system will be available in February 2024. All licensees will be receiving notifications on how to access the system by email. All annual reports will be due May 1, 2024.

If you have any questions, please contact Consumer Finance Annual Reports.

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 2023, you are required to file an annual report in 2024 even if you did not conduct any business in 2023, and even if you ceased doing the business activities for which you were licensed in New Jersey in 2023.  

If you have any questions about filing your annual report, please e-mail Consumer Finance Annual Reports at Thank you in advance for your cooperation in this important matter.

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More annual report information for Licensees


What is “dedicated funding?”
“Dedicated funding” is a term used to describe the way that the Division of Banking within the New Jersey Department of Banking and Insurance is funded. As of July 1, 2006, a state law changed the way the Division of Banking is funded. Under the dedicated funding system, the Division's funds are segregated from the State General Fund, and regulated depositories and licensees will be assessed for actual expenses incurred by the Division. Each individual assessment is predicated on the annual business volume of each licensee in proportion to the total annual business volume of all licensees.

Explanation of the law

In August 2005, the Legislature and Governor enacted a law to fund the Division of Banking on a dedicated basis, the same way that the Division of Insurance, Real Estate Commission, and Bureau of Securities are funded. Rather than paying fees to the State for general purposes, the Division of Banking will recoup its actual expenses by billing all regulated depositories and licensees after the expenses have been incurred and placing the receipts in a segregated account. However, the Division's billings are still limited by the budgeted amount allotted to it by the Treasurer, Legislature, and Governor through the State's annual budget process.

When did Dedicated Funding take effect?
The law took effect on July 1, 2006.

Who is affected?
All state-chartered depositories (banks, savings banks, savings and loan associations, and credit unions) and all licensees (residential mortgage brokers, residential mortgage lenders, correspondent residential mortgage lenders, consumer lenders, sales finance companies, debt adjusters, high cost home loan credit counselors, home repair contractors, home repair finance agencies, insurance premium finance companies, money transmitters, foreign money transmitters, motor vehicle installment sellers, check cashers, pawn brokers and student loan servicers.)

Assessment/Annual Report Information
Licensees > Depositories

Dedicated Funding Bill (A3176) (2004)
Adopted Rules - Licensees
(June 19, 2006)
Bulletin - Licensees
(June 20, 2006)

Important Dates
February 2024
Electronic Annual Reports Available for All Licensees
May 1, 2024
All Annual Reports Due
October 2024
Annual Assessment Bills
November 2024
Annual Assessments Due
More assessment, annual report information for Depositories

More assessment, annual report information for Licensees
Contact Information
For licensing questions:
NJDOBI License Services, Banking
PO Box 473
Trenton, NJ 08625
For annual report, request login credentials questions:
NJ Department of Banking and Insurance
PO Box 040
Trenton, NJ 08625

OPRA is a state law that was enacted to give the public greater access to government records maintained by public agencies in New Jersey.
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