N.J. Admin. Code § 13:44J-5.6

Current through Register Vol. 56, No. 21, November 4, 2024

Section 13:44J-5.6 - Annual reports

(a) Each year, a cemetery company shall submit a check for all charges due the Board pursuant to 13:44J-3.1 and file a notarized annual report on a form provided by the Board with the Board. The report shall include:

1. The extent of, and sources of augmentation to, the Maintenance and Preservation Fund;

2. The designation of the income of the maintenance and preservation fund as operational expenses, retained income or both; and

3. A list of the securities, bonds, certificates of deposit or other instruments in which the corpus of the fund is invested.

(b) The cemetery company shall file the annual report required by this section no later than 120 days after the close of the cemetery company's fiscal year.

(c) Except as provided in (d) below, a cemetery company may request that the Board waive the filing fee required by 13:44J-3.1(a)3. A request for waiver shall be included with the report filed pursuant to (a) above. The Board shall grant the waiver if it determines that the annual report indicates that the cemetery company requesting the waiver does not have sufficient income from the Maintenance and Preservation Fund and from any other sources to cover the costs of maintaining the cemetery and paying the fee. If the Board determines that the fee should not be waived, it shall inform the cemetery company that the fee has not been waived and the cemetery company shall pay the fee within 60 days of receiving notification.

(d) Any cemetery company whose income from the maintenance and preservation fund, as indicated in the annual report filed pursuant to (a) above, is $ 1,000 or less shall not be required to pay the filing fee required by 13:44J-3.1(a)3 and shall not be required to request a waiver pursuant to (c) above.

(e) Along with the annual report filed pursuant to (a) above, a cemetery company shall submit the following:

1. For a cemetery company that files an Internal Revenue Service Form 990, a copy of that form and a copy of its annual financial report filed with the Attorney General pursuant to N.J.S.A. 45:17A-24;

2. For a cemetery company that does not file an Internal Revenue Service Form 990 or that files an Internal Revenue Service Form 990-EZ, a copy of its annual financial report filed with the Attorney General pursuant to N.J.S. A. 45:17A-24; or

3. For a cemetery company that is not required to file a report with the Attorney General pursuant to N.J.S.A. 45:17A-24, the following information:

i. Annual gross revenue;

ii. Annual expenses, including total compensation;

iii. Amounts in operating accounts;

iv. The name and address of the institution(s) at which operating accounts are held; and

v. An annual financial statement certified by the owners.

N.J. Admin. Code § 13:44J-5.6

Amended by 52 N.J.R. 897(a), effective 4/20/2020