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Dedicated Funding FAQs - Pawn Broker
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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.
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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.
The
Department recommends downloading and printing the 2023 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. |
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Annual Reports |
Is a pawn broker required to file an annual report?
A pawn broker is required to file an annual report with the Division of
Banking. The report must be filed for the period of January 1, 2023
through December 31, 2023 for all business conducted in New Jersey.
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 pawn
brokers, it is important to pay particular attention to:
- Surety
Bond requirement
- The
number and dollar volume of new pledges and renewed pledges
- The
dollar volume of conditional sales
- Service
charges
Information
must be collected from 01/01/2023 through 12/31/2023 for New Jersey business
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, 2024
for the January 1, 2023 to December 31, 2023 reporting period. Annual reports are expected to be filed
electronically over the Internet through the State's secure web site.
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Additional License Specific
Information |
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 non-refundable
application fee?
The
non-refundable application fee is $500 for each new license.
What
must a pawn broker 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
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Contact Information |
For licensing questions:
NJDOBI
License Services, Banking
PO Box 473
Trenton, NJ 08625
E-mail
609-292-7272 |
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For annual report, request login credentials questions:
NJ Department of Banking and Insurance
PO Box 040
Trenton, NJ 08625
E-mail
609-940-7649 |
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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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You will need to download the latest version of Adobe Acrobat Reader in order to correctly view and print PDF (Portable Document Format) files from this web site. |
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Copyright © State of New Jersey, 1996 -
State of New Jersey
New Jersey Department of Banking and Insurance
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