Company Property Checklist
About this form
The Company Property Checklist is a vital document designed for employers to ensure that all company property is returned by departing employees. This form helps organizations manage their assets effectively and reduces the risk of loss or misuse of company items. Unlike other HR forms that may focus solely on employee evaluations or onboarding, this checklist specifically addresses the return of tangible property such as electronics, access cards, and financial instruments.
What’s included in this form
- Checklist of company property to be returned, including laptops, phones, and ID cards.
- Section for documenting any outstanding company loans that must be repaid.
- Space for additional notes or specific items not listed in the main sections.
Situations where this form applies
This form should be used when an employee is leaving a company, whether due to resignation, termination, or retirement. It is essential to ensure the return of all company property before an employee's final departure to maintain security and integrity within the organization.
Who can use this document
The following individuals and entities should use the Company Property Checklist:
- Employers of all sizes, including small businesses and large corporations.
- HR departments responsible for managing employee separations.
- Managers overseeing facilities and company property.
How to prepare this document
- Identify the departing employee and specify their role within the company.
- List all items of company property that need to be returned, checking each one off as it is returned.
- Note any outstanding loan repayments or obligations that the employee must fulfill before the exit is finalized.
- Provide space for any additional remarks or items not included in the standard checklist.
Does this form need to be notarized?
This form usually doesn’t need to be notarized. However, local laws or specific transactions may require it. Our online notarization service, powered by Notarize, lets you complete it remotely through a secure video session, available 24/7.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Typical mistakes to avoid
- Failing to include all items of company property in the checklist.
- Not obtaining the employee's signature to confirm that all items have been returned.
- Overlooking outstanding loans or payables that should be documented before the employee's departure.
Why complete this form online
- Convenient access from anywhere, allowing easy monitoring of returns.
- Editability to customize the checklist based on specific company needs.
- Secure storage of completed forms, ensuring legal compliance and record-keeping.
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FAQ
Go somewhere private and then lead with the punch line, says Glickman. She suggests you begin by saying, I have some bad news for you. Today is your last day here. Then state the reason for termination in one simple sentence. Be transparent, she says.
The file should have an employee termination checklist form to be followed and basic details of the employee such as name, department, position as well as important details such as the reason for termination, last day of work and the name of the person handling their file.
Termination letter due to layoffs/downsizing. Termination letter for cause (misconduct/performance/attendance, etc.) Termination of business contract.
Identify and Document the Issues. Coach Employees to Rectify the Issue. Create a Performance Improvement Plan. Terminate the Employee. Have HR Conduct an Exit Interview.
Immediately develop a hiring plan to replace the employee. Frame the resignation as an opportunity for remaining team members to take on new responsibilities and learn new things. Publicly acknowledge the employee's departure and his contributions to the team.
You can start this off by saying: "Per company policy, employees must return all property back to the organization in insert number of days after a termination/layoff/etc."
The employer must provide the employee with his or her final paycheck during the termination meeting.In addition, make sure to provide the employee with all documentation regarding applicable benefits (including retirement benefits and insurance/COBRA information, if applicable) and unemployment benefits.
Depending on the value of the property at issue, an employer may be able to file a small claims action against a former employee who won't return its property. Also, in some circumstances you may be able to put an employee on an unpaid suspension pending the return of property.
