The State of New Jersey
NJ Department of Banking and Insurance
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Please Note:

The online annual reporting system will be available early March 2021. All licensees will be receiving notifications on how to access the system by email. All annual reports will be due July 1, 2021.

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

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 2020, you are required to file an annual report in 2021 even if you did not conduct any business in 2020, and even if you ceased doing the business activities for which you were licensed in New Jersey in 2020.  

The Department recommends downloading and printing the 2020 Annual Report Worksheet (at right) before completing the online report.

If you have any questions about filing your annual report, please email Consumer Finance Assessments at bankingannualreports@dobi.nj.gov.

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

 
Annual Report Worksheet
Check Casher (PDF)
File Your Annual Report
 
Annual Reports

Is a check casher required to file an annual report?
A check casher is required to file an annual report with the Division of Banking. The report must be filed for the period of January 1, 2020 through December 31, 2020 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.

  • Liquidity requirement
  • Surety Bond requirement
  • Financial statements
  • The number and dollar volume of checks cashed for all NJ locations

Information must be collected from 1/1/20 through 12/31/20 for all 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 July 1, 2021 for the January 1, 2020 to December 31, 2020 reporting period. Annual reports are expected to be filed electronically over the Internet through the State's secure web site.

 
Additional License Specific Information

When will license renewals occur?
Renewals for ALL
non-mortgage licensees will be as of July 1, 2021. It is expected that licensees will be notified about the renewal process no later than April of 2021. Licenses must be renewed prior to June 30, 2021.

Will there be a license renewal fee for the biennial renewal in July of 2021?
Al 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 and new branch offices - require the payment of a non-refundable application fee.

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

What must a check casher do to:

1) Change a licensed business address?

  • Complete the Change of Address form
  • Enclose a copy of the deed, lease or rental agreement for the new business location – Note: The agreement MUST BE executed between the licensee and the landlord/property owner. If a sublease is involved, there MUST BE written evidence of the landlord's knowledge and acceptance of the subleasing arrangement
  • Enclose (4) four photographs of the location – two exterior and two interior
  • Written physical description of the location to be licensed
  • Evidence of compliance with local zoning requirements, specifically identifying that a check cashing operation may be located at the proposed site, in the form of a letter from the local zoning officer
  • Identification of any other businesses being conducted or intended to be conducted at the office location to be licensed. Note: N.J.S.A.17:15A-47(f) states that a check casher is prohibited from engaging in business other than a business which primarily provides financial services at an office or mobile office. The statement providing this information must be notarized and must fully describe the nature and scope of any other businesses and how such other businesses will be physically separated from the proposed check cashing business.
  • Enclose a certified survey demonstrating that the proposed location is NOT within 2,500 feet of any other existing licensed check casher principal or branch office location – Note: Documentation MUST clearly state that there are NO check cashing offices within 2,500 feet
  • 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
  • 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

 
Contact Information
For licensing questions:
NJDOBI License Services, Banking
PO Box 473
Trenton, NJ 08625
E-mail: bliconline@dobi.nj.gov
609-292-7272
For annual report, request login credentials questions:
NJ Department of Banking and Insurance
PO Box 040
Trenton, NJ 08625
E-mail: Consumer Finance Assessments
609-940-7649
 
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New Jersey Department of Banking and Insurance