The State of New Jersey
NJ Department of Banking and Insurance
Dedicated Funding FAQs - Money Transmitter
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.

The Department recommends downloading and printing the 2017 Annual Report Worksheet (at right) before completing the online report.

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.


Annual Report Worksheet

Money Transmitter (PDF)
File Your Annual Report
Annual Reports

Is a money transmitter required to file an annual report?

A money transmitter is required to file an annual report with the Division of Banking. The report must be filed for the period of January 1, 2017 through December 31, 2017 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 money transmitters, it is important to pay particular attention to:

  • Financial statements
  • The dollar volume of money transmitted (domestic and foreign) for New Jersey clients only
  • The dollar volume of payment instruments sold to New Jersey consumers
  • The dollar volume of third party bills paid for New Jersey consumers
  • The dollar volume of store value cards
  • Surety Bond requirement

Information must be collected from 1/1/17 through 12/31/17 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, 2018 for the January 1, 2017 to December 31, 2017 reporting period. Annual reports are expected to be filed electronically over the Internet through the State's secure web site.

What is the penalty for filing the annual report late?
If the filing of the annual report is late, you may be subject to a late penalty of $100 for each day the annual report filing is late, and are subject to suspension or loss of license. The Division of Banking MUST have report information on ALL licensees in order to properly assess and bill all licensees.

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Additional License Specific Information

When will license renewals occur?

Renewals for ALL
non-mortgage licensees will be as of July 1, 2017. It is expected that licensees will be notified about the renewal process no later than April of 2017. Licenses must be renewed prior to June 30, 2017.

Will there be a license renewal fee for the biennial renewal in July of 2017?
All non-mortgage 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 – require the payment of a non-refundable application fee.

How much is non-refundable application fee?
The non-refundable application fee is $700 for each new license.

Will registrations of new delegates or locations require a fee?
No. There is NO FEE for the registration of new delegates or locations.

What must a money transmitter 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

4) Complete a change of control of direct ownership of the licensed business (25% or more)?

  • Complete a Change of Control Application
  • Enclose a copy of the stock purchase agreement if a corporation or agreement to purchase ownership interest if a limited liability company as well as any other documents evidencing the change in ownership - Note: Partnerships and sole proprietorships CANNOT file changes of control - New application is required
  • Enclose a copy of the corporate resolution or amended limited liability operating agreement showing the termination of officer/director/member positions and the appointments of new officers/directors/members
  • Enclose completed personal certifications for each new officer, director, member and substantial stockholder/owner (owning more than 10% of stock/ownership interest)
  • Return the above items to the Licensing Services Bureau, NJDOBI

Note: There is NO FEE to complete a change of control.

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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
609-292-7272 ext. 51013 (S. Davis)
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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New Jersey Department of Banking and Insurance