Asset Declaration Form For Employees for Philippines

Asset Declaration Form For Employees Template for Philippines

This document serves as a comprehensive declaration form for employees in the Philippines to disclose their assets, liabilities, and net worth. Designed in compliance with Philippine regulations, particularly following principles established by Republic Act 6713, it enables systematic reporting of an employee's financial status. The form encompasses declarations of real property, personal assets, business interests, and financial obligations, while incorporating necessary privacy protections under the Data Privacy Act of 2012. It serves both as a transparency tool and a mechanism for preventing conflicts of interest, particularly important in regulated industries and the public sector.

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What is a Asset Declaration Form For Employees?

The Asset Declaration Form For Employees is a crucial document used in the Philippine business and regulatory environment to promote transparency and prevent conflicts of interest. It is mandated for public sector employees under Republic Act 6713 and has been widely adopted by private sector organizations as a best practice. The form requires employees to provide detailed information about their financial status, including real and personal property, investments, business interests, and liabilities. This declaration helps organizations maintain ethical standards, comply with anti-corruption laws, and ensure proper disclosure of potential conflicts of interest. The document is particularly relevant in regulated industries and organizations dealing with public funds or sensitive information. It typically requires annual updates and must be filed with appropriate supporting documentation.

What sections should be included in a Asset Declaration Form For Employees?

1. Personal Information: Employee's basic details including name, employee ID, position, department, and date of employment

2. Declaration Statement: Legal statement affirming the truthfulness and completeness of the declaration

3. Real Property Assets: Details of all real estate properties owned, including location, acquisition cost, current market value, and mode of acquisition

4. Personal Property Assets: List of vehicles, jewelry, investments, and other valuable personal properties above the prescribed threshold

5. Business Interests: Information about business ownerships, shareholdings, and other financial interests

6. Liabilities: List of all outstanding debts, loans, and other financial obligations

7. Net Worth Computation: Calculation showing the difference between total assets and liabilities

8. Relative Declaration: Information about relatives in government service (if applicable)

9. Privacy Notice: Statement on data protection and usage in compliance with the Data Privacy Act

10. Certification: Signature section with oath of truthfulness and completeness

What sections are optional to include in a Asset Declaration Form For Employees?

1. Foreign Assets Declaration: Additional section for employees who own assets outside the Philippines

2. Trust Arrangements: Section for declaring any trust arrangements where the employee is either a trustor or beneficiary

3. Previous Year Comparison: Section comparing current declaration with previous year's figures, useful for annual updates

4. Conflict of Interest Disclosure: Detailed disclosure of potential conflicts of interest, particularly relevant for senior positions

5. Spouse and Unmarried Children's Assets: Declaration of assets owned by spouse and unmarried children living in the same household

What schedules should be included in a Asset Declaration Form For Employees?

1. Schedule A - Real Property Details: Detailed breakdown of each real property including tax declarations, titles, and assessment values

2. Schedule B - Vehicle Registration: Copies of vehicle registration certificates and insurance policies

3. Schedule C - Investment Portfolio: Detailed list of stocks, bonds, mutual funds, and other investments

4. Schedule D - Business Interest Documentation: Copies of business registration, articles of incorporation, or partnership agreements

5. Schedule E - Loan Documentation: Supporting documents for declared loans and financial obligations

6. Appendix 1 - Supporting Document Checklist: List of required supporting documents and verification requirements

7. Appendix 2 - Guidelines for Completion: Detailed instructions on how to complete each section of the form

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Philippines

Publisher

Genie AI

Document Type

Declaration Form

Cost

Free to use
Relevant legal definitions
Clauses
Relevant Industries

Government/Public Sector

Banking and Finance

Insurance

Real Estate

Mining

Healthcare

Education

Telecommunications

Energy

Manufacturing

Professional Services

Non-Profit Organizations

Relevant Teams

Human Resources

Compliance

Legal

Finance

Internal Audit

Risk Management

Administrative Services

Corporate Governance

Ethics

Operations

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Director

Department Head

Manager

Supervisor

Public Officer

Government Employee

Bank Officer

Compliance Officer

Human Resources Manager

Finance Officer

Procurement Officer

Board Member

Executive Assistant

Administrative Officer

Project Manager

Financial Analyst

Risk Officer

Internal Auditor

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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