Free IOU Template — Fill In, Copy, or Download as PDF
Record who owes whom, how much, and when it'll be repaid — then copy the text or download a clean one-page PDF. Everything stays in your browser.
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IOU — Acknowledgment of Debt Date: July 4, 2026 I, [Borrower's full name], acknowledge that I owe [Lender's full name] the sum of [amount in words] ($______). I promise to repay this amount in full by __________. No interest will be charged on this loan. Borrower signature: _________________________ Date: __________ Lender signature: _________________________ Date: __________ --- This document is provided for informational purposes only and does not constitute legal advice. See full disclaimer below.
This IOU template and the information on this page are provided for general informational purposes only and do not constitute legal advice. SimpleIOU is not a law firm and does not provide legal services. This template may not be valid or enforceable in every jurisdiction, and laws on interest rates ('usury' limits) and contract enforceability vary by state. For significant amounts or complex situations, consult a qualified attorney licensed in your state.
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Track it in SimpleIOUWhat is an IOU?
An IOU — short for "I owe you" — is a simple written acknowledgment that one person owes money to another. It records the essentials: the date, who the lender and borrower are, how much is owed, and ideally how and when it will be paid back. People use IOUs for informal loans between friends, family or colleagues, where a full loan contract would feel like overkill but a paper trail is still helpful.
Is an IOU legally binding?
A signed IOU can serve as evidence that a debt exists and that the borrower agreed to repay it. Whether a court would treat any particular IOU as an enforceable contract depends on the facts and on the laws of the state where you live, so no template can promise a specific outcome.
In general, a few things tend to make an IOU stronger and easier to rely on: stating the amount clearly in both words and figures, spelling out the repayment terms, getting a dated signature from the borrower (and ideally the lender), and adding a witness. Those don't guarantee enforceability, but they reduce ambiguity about what was agreed. For anything significant, it's worth talking to a qualified attorney in your state.
IOU vs. promissory note vs. loan agreement
These three documents all record a debt, but they differ in detail and formality.
| Document | What it does | Typical use |
|---|---|---|
| IOU | Acknowledges that a debt exists and how much is owed. Usually the simplest of the three. | Informal loans between people who know each other. |
| Promissory note | A written promise to repay, typically with repayment terms and often interest spelled out. | Loans where the parties want clearer, more formal repayment terms. |
| Loan agreement | The most detailed: covers repayment, interest, default, collateral and other conditions. | Larger or more complex loans where both sides want full terms. |
How to write an IOU
- Add the date and the people involved. Enter the date of the IOU and the full names of the lender (the person owed) and the borrower (the person who owes).
- State the amount in words and figures. Writing the amount both ways — for example "One thousand dollars ($1,000.00)" — helps avoid confusion or later disputes about the number.
- Describe the repayment terms. Choose a lump sum by a due date or installments, and add an interest rate only if you intend to charge one.
- Sign, date, and keep a copy. Have the borrower and lender sign and date the document, optionally add a witness, then keep a copy for each person.
Do you need a witness or notary?
In most cases an IOU does not have to be witnessed or notarized to act as a record of a debt. However, a witness signature can make it easier to show the document is genuine and that both people signed it, which can help if there is ever a disagreement. Notarization adds another layer of proof of identity and signing, and is sometimes used for larger amounts. Requirements vary by state, so if a notary or witness matters for your situation, check your local rules or ask an attorney.
Frequently asked questions
- Is this IOU template really free?
- Yes. You can fill it in, copy it as text, and download it as a PDF completely free, with no sign-up and no email required. You can create as many IOUs as you like.
- Is anything I type sent to your servers?
- No. The entire template is generated inside your browser. The names, amounts and dates you enter are never sent to a server, stored, or shared with anyone. The copy and PDF features work entirely on your device.
- Does an IOU need to be notarized or witnessed?
- An IOU does not generally have to be notarized or witnessed to be a record of a debt. Adding a witness signature can make it easier to prove the document is genuine if there is ever a dispute, which is why this template offers an optional witness line.
- What should an IOU include?
- A useful IOU records the date, the names of the lender and borrower, the amount owed written in both words and figures, what the money is for, and how and when it will be repaid. Signatures from the borrower (and ideally the lender) help show both sides agreed.
- Can I charge interest on an IOU?
- You can include an interest rate, and this template lets you add one. Many states cap the interest you can charge on personal loans through 'usury' laws, and a rate above the cap may be unenforceable. If you plan to charge interest, check your state's limit or speak with an attorney.
Keep every IOU in one private place
Track who owes you, set reminders, and watch balances get paid down — privately, on your terms.