Earlier this month, the California Department of Financial Protection and Innovation notified California Financing Law licensees by mail of their annual assessment obligations. Invoice amounts are determined by the licensee’s 2020 gross income for CFL activity, carry a $250 minimum fee per licensed location, and are due in full by October 31, 2021. Check payments should include the invoice number and be mailed to the DFPI’s Sacramento office: Attn: Accounting, 2101 Arena Boulevard, Sacramento, CA 95834.
Similarly, the New Jersey Department of Banking and Insurance is expected to send assessment bills to licensees in short order. (Last year, the department mailed the bills in early November and we recently confirmed with a representative of the department that they intend to mail the bills at the same time this year.) The bills include a base assessment that varies by license type, as well as an additional assessment that is calculated based on the licensee’s 2020 reported New Jersey volume. Payment is due within 30 days of receipt of the bill.
In the event that you have not yet received your CFL invoice, or that you don’t receive your NJDOBI bill by mid-November, please feel free to contact APPROVED for assistance in obtaining a copy.