The State of New Jersey
NJ Department of Banking and Insurance
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Assessment, Annual Report Information - Licensees
Please Note:

The online annual reporting system will be available on or about February 1, 2018. All licensees will be receiving notifications on how to access the system by mail. All annual reports will be due May 1, 2018.

If you have any questions, please contact Consumer Finance Assessments.

Submission of the annual report is an essential component of the Department's funding mechanism. Therefore, failure to file your online annual report may result in significant fines and penalties.

If you have any questions about filing your annual report, please call Consumer Finance Assessments at 609-292-7272

Thank you in advance for your cooperation in this important matter.

Fill Your 2010 Annual Report
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Important Dates
February 2018
Electronic Annual Reports Available for All Licensees
May 1, 2018
All Annual Reports Due
October 2018
Annual Assessment Bills to be Mailed
November 2018
Annual Assessments Due
Frequently Asked Questions

Who is required to file an annual report with the Division of Banking and pay an annual assessment?
ALL licensees are required to file an annual report. Licensees must file an annual report even if your license was surrendered in 2017. Licensees must also file an annual report if zero business was conducted in New Jersey during 2017.

How is the assessment bill for each licensee determined?
The new 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, 2018.

Why is an annual report required to be filed?
The annual report is the sole source of information used in determining annual business volume for each licensee and ultimately what each licensee must pay in its annual assessment to the Division of Banking. The annual report filings will also continue to provide the Division of Banking with important information relative to the regulatory guidelines of licensees.

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

How does the new law affect licensees?
Effective July 1, 2006, a new law changed the way in which the Division of Banking within the New Jersey Department of Banking and Insurance is funded. One of the main benefits of the new law is the elimination of most fees currently paid by licensees.

Instead of paying the various fees that have been associated with licensure, ALL licensees will now pay a yearly assessment. The assessment will be the method by which the Department recovers its operating expenses for its previous fiscal year. All licensees will be required to file annual reports that will provide the Department with information needed to properly calculate each licensee's share of the Banking Division's total operating expenses. This share of assessment is determined by looking at each licensee's annual business in proportion to the total annual volume for all licensees.

What fees will be eliminated as a result of the new law?

  • License renewal fees
  • Address change fees
  • Name change fees
  • Change of control fees
  • License conversion fees
  • Inactivation fees for individual mortgage licensees
  • Duplicate license fees
  • Examination fees
  • Annual report filing fees

What fees will exist under the new law?

  • 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

Is there a penalty for filing the annual report late?
If the filing of the annual report is late, you may be subject to a penalty of $100 for each day the annual report filing is late, and are subject to suspension or loss of license. Report information on ALL licensees is necesssary for the proper assessment of all licensees.

When will I pay the annual assessment?
All licensees will annually receive a bill in mid-October. Payment of the bill is due to the State within 30 days of the date of the bill.

What happens if I don't pay my assessment bill on time?
If the Department does not receive payment from you within 30 days of mailing of the bill, you will face penalties of $150 per day late up to 20 percent of the amount billed and are immediately subject to suspension or loss of license.

Contact Information For licensing questions:
NJDOBI License Services, Banking
PO Box 473
Trenton, NJ 08625
For annual report, assessment questions:
NJ Department of Banking and Insurance
PO Box 040
Trenton, NJ 08625
E-mail: Consumer Finance Assessments
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New Jersey Department of Banking and Insurance