Get the free PERSONAL FINANCIAL STATEMENT - Updated 02 2009 2doc

PERSONAL FINANCIAL STATEMENT CU Member Business, Inc. and, Lender PERSONAL FINANCIAL STATEMENT TO: CU Member Business, Inc., 500 Main Street, Ste. 130, New Brighton, MN 55112 Phone: 6516313111 Fax:

How to fill out personal financial statement

How to fill out a personal financial statement:

1. Start by gathering all necessary documents such as bank statements, investment statements, tax returns, and any other financial records.
2. Begin the form by filling in your personal information including your name, address, and contact details.
3. Provide information about your income, including your salary, wages, bonuses, and any other sources of income.
4. List all your assets such as real estate properties, vehicles, investments, and bank accounts. Be sure to include their current values.
5. Calculate your liabilities, which include mortgages, loans, credit card debt, and any other outstanding payments.
6. Subtract your total liabilities from your total assets to determine your net worth.
7. Disclose any additional financial information such as ownership in businesses, retirement accounts, or other significant assets.
8. Provide a thorough explanation of any significant changes or events that affected your financial situation, such as job loss or inheritance.
9. Review the completed form for accuracy and make any necessary corrections before signing and dating it.

Who needs a personal financial statement?

1. Individuals applying for loans - Banks and financial institutions often request personal financial statements from loan applicants to assess their creditworthiness and determine loan approval.
2. Entrepreneurs and business owners - When starting a new business or seeking financing for an existing one, a personal financial statement may be required to evaluate an individual's financial stability and ability to invest in the business.
3. Investors and shareholders - Individuals investing in a company or becoming shareholders may be asked to provide a personal financial statement as part of the due diligence process.
4. Immigration or visa applicants - Some countries require prospective immigrants or visa applicants to submit a personal financial statement to demonstrate their ability to support themselves financially.
5. Estate planning purposes - Personal financial statements can be useful for individuals who want to organize their assets, liabilities, and net worth for estate planning and wealth management purposes.

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What is personal financial statement?

A personal financial statement is a document that provides an overview of an individual's financial situation, including assets, liabilities, income, and expenses.

Who is required to file personal financial statement?

Elected officials and certain government employees are typically required to file a personal financial statement.

How to fill out personal financial statement?

To fill out a personal financial statement, one must gather information on assets, liabilities, income, and expenses, and then input this data into the designated form.

What is the purpose of personal financial statement?

The purpose of a personal financial statement is to provide transparency and accountability regarding an individual's financial matters.

What information must be reported on personal financial statement?

Information such as assets, liabilities, income sources, and business interests must be reported on a personal financial statement.