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 2008 or in 2009. Licensees must also file an annual report if zero business was conducted in New Jersey during 2008. 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 April 1st of each year. 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 ultimatel
