49. Do candidates have to report on their election campaign finances?

(a) For each election at which a candidate is seeking elective office, the candidate shall file with the Commission a pre-election campaign statement which shall cover the period beginning with the date the candidate received his first contribution for the election and ending thirty (30) days before the election and shall be filed no later than twenty (20) days before the election.

(b) Each candidate who receives from a single source contributions totaling five hundred dollars ($500) or more after the closing date of the pre-election campaign statement and before the election shall file a late contribution statement disclosing the total amount of such contributions, the name and address of the contributor, the amount of the contribution and the date of the contribution. The statement shall be delivered to the Commission for filing by personal delivery or facsimile transmission no later than forty eight (48) hours after the contribution is made. A late monetary contribution need not be reported nor shall it be deemed to be accepted if it is not cashed, negotiated and deposited and is returned within forty eight (48) hours of its receipt, and a late non-monetary contribution need not be reported and shall not be deemed to be accepted if it is not used in any way and is returned to the contributor within forty eight (48) hours of its receipt.

(c) For each election at which a candidate is seeking elective office, the candidate shall file with the Commission a post-election campaign statement which shall cover the entire period during which the candidate received contributions in connection with that election. The post-election campaign statement shall be filed no later than one hundred twenty (120) days after the election.

(d) Each pre-election and post-election campaign statement required by this chapter shall contain all of the following information:

(1) The total amount of contributions received and expenditures made during the period covered by the campaign statement;

(2) If the cumulative amount of contributions (including loans) received from a person is one hundred dollars ($100) or more, the person's name and address, and the date and amount of each contribution received from that person during the period covered by the campaign statement;

(3) For each person to whom an expenditure of five hundred dollars ($500) or more has been made during the period covered by the campaign statement, the person's name and address, the amount of each expenditure and a brief description of the consideration for which each expenditure was made;

(4) A verification by the candidate, executed under penalty of perjury, that he has used all reasonable diligence in the preparation of the statement and that to the best of his knowledge the statement is true and correct; and

(5) Any other information that the Commission may reasonably deem necessary to fulfill the purposes of this chapter or to more fully inform citizens regarding the financing of campaigns in the Republic.

(e) A monetary contribution need not be reported and shall not be deemed to be accepted if it is not cashed, negotiated or deposited and is returned to the contributor within seventy two (72) hours of its receipt, and a non-monetary contribution need not be reported and shall not be deemed to be accepted if it is not used in any way and is returned to the contributor within seventy two (72) hours of its receipt.

(f) Any statement filed pursuant to this section may be amended at any time. Amending an incorrect or incomplete statement may be considered as evidence of good faith.

Source: Article 606, Palau National Code, Title 33 Public Employment Chapter 6 Code of Ethics as revised edition April 2014

Candidates must file both a pre election and post election financial statement for their campaign