The Securities and Exchange Commission (SEC), continues to develop streamlined reforms to maintain an organized and orderly filing of Audited Financial Statements (AFS) and General Information Sheets (GIS). The Commission adopts the use of Electronic Filing and Submission Tool (eFAST) and implements the following measures and schedules in the filing of annual reports.
I. Audited Financial Statements (AFS)
All AFS duly submitted to and received by the Bureau of Internal Revenue (BIR), shall be submitted to the SEC through the eFAST. Submission of reports Over-the-Counter (OTC) and/or through email/courier via SENS shall no longer be accepted.
- All corporations, including branch offices, representative offices, regional headquarters and regional operating headquarters of foreign corporations, whose fiscal year ends on December 31, 2021 should file their AFS based on the last digit of their SEC registration or license number in accordance with the following schedule:Nevertheless, all corporations, regardless of their registration or license number, may submit their AFS on or before June 30, 2022.
July 1 – 15 1 and 2 July 16 – 31 3 and 4 August 1 – 15 5 and 6 August 16 – 31 7 and 8 September 1 – 15 9 and 0
Filings after the respective due dates will be accepted starting September 16, 2022, subject to prescribed penalties that will be computed from the date of the last day of the filing schedule.
- Corporations whose fiscal year ends on a date other than Dec. 31, 2021 should file its AFS within 120 calendar days from the end of its fiscal year.
- Publicly listed companies and other issuers of securities should file their AFS within 105 calendar days after the end of their fiscal years.
- Corporations whose AFS are audited by the Commission on Audit (COA) may submit outside the prescribed filing schedules provided they attach an affidavit and a confirmation letter from COA attesting to the timely submission of their financial statements and supporting documents to the state auditors.
II. General Information Sheet (GIS)
- All corporations shall file their GIS within 30 calendar days from:
a. Stock Corporations – date of actual annual stockholders’ meeting
b. Non-Stock Corporation – date of actual annual members’ meeting
c. Foreign Corporations – anniversary date of the issuance of the SEC License
For the full details of the above provisions, please check the SEC Memorandum Circular No. 2-2022 posted in the SEC website.
SEC Memorandum Circular No. 2 Series of 2022