The New Jersey Department of Banking notified licensees that annual reports must be filed online by May 1, 2025, via the Department’s Banking Annual Reports website. Failure to file the annual report on time will result in an enforcement action. They also stated that penalties for late filing will not begin until June 1, 2025 instead of May 2, 2025. After May 31, 2025, the Department will issue an Order and Notice of Violation subjecting late filers to the following penalties, depending on when the annual report is filed with the Department