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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 [email protected].
Thank you in advance for
your cooperation in this important matter. |
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Annual Reports |
Is a motor vehicle installment seller required to file an annual
report?
A motor vehicle installment seller 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.
What type of information will
a motor vehicle installment seller be required to include in the annual
report?
The following information must be collected from 01/01/2023 through 12/31/2023 and maintained to complete the annual report. To ensure consistency of reporting, please
utilize the following example of net amount financed. For
example, if the net amount financed is $9,000, and the warranty and
other fees put the final net amount financed at $10,500, this
transaction gets reported in the $10,000 or less category.
- Number
of NJ financed retail installment contracts (including all leases with
a purchase option) involving motor vehicles having a net amount
financed of $10,000 or less executed between 01/01/2023 and 12/31/2023
- Total
NJ dollar amount of financed retail installment contracts (including
all leases with a purchase option, the amount to report
is the Total Lease Payments less Sales Tax) involving
motor vehicles having a net amount financed of $10,000 or less executed
between 01/01/2023 and 12/31/2023 - excludes sales tax
- Number
of NJ financed retail installment contracts (including all leases with
a purchase option) involving motor vehicles having a net amount
financed between $10,001 and $50,000 executed between 01/01/2023 and 12/31/2023
- Total
NJ dollar amount of financed retail installment contracts (including
all leases with a purchase option) involving motor vehicles having a
net amount financed between $10,001 and $50,000 executed between 01/01/2023 and 12/31/2023 - excludes sales tax
- Number
of NJ financed retail installment contracts (including all leases with
a purchase option) involving motor vehicles having a net amount
financed of $50,001 or more executed between 01/01/2023 and 12/31/2023
- Total
NJ dollar amount of financed retail installment contracts (including
all leases with a purchase option) involving motor vehicles having a
net amount financed of $50,001 or more executed between 01/01/2023 and 12/31/2023 - excludes sales tax
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, new branch offices and new individual licenses – require
the payment of a non-refundable application fee. How much is the non-refundable
application fee?
The non-refundable application fee is $300 for each new license.
What
must a motor vehicle installment seller do to:
1)
Change a licensed business address?
Note:
There is NO FEE
to change a business address
2)
Change a licensed business name?
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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
- 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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records maintained by public agencies in New Jersey. |
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State of New Jersey
New Jersey Department of Banking and Insurance
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