SEC to firms: Submit GIS, AFS papers online

MANILA, Philippines — The Securities and Exchange Commission (SEC) is reminding entities under its jurisdiction to submit their general information sheets (GIS) and annual financial statements (AFS) online.

It has likewise set deadlines for the 2023 Filing of Annual Financial Statements and General Information Sheet.

The SEC said all stock and non-stock corporations are required to submit their annual reports online through the SEC Electronic Filing and Submission Tool (eFAST), previously called the Online Submission Tool.

As part of its shift toward zero face-to-face transaction, the SEC will no longer accept over the counter submissions.

For the submission of AFS, the SEC will implement a schedule based on the last digit of corporations’ registration or license numbers to maintain an organized and orderly filing of annual reports.

According to the SEC, all corporations, including branch offices, representative offices, regional headquarters and regional operating headquarters of foreign corporations whose fiscal years end on Dec. 31, 2022 shall file their AFS based on the last digit of the SEC registration or license number: 1 and 2 ( May 2, 3, 4, 5); 3 and 4 ( May 8, 9, 10, 11, 12); 5 and 6 (May 15, 16, 17, 18, 19); 7 and 8 ( May 22, 23, 24, 25, 26); 9 and 0 (May 29, 30, 31, and June 1, 2).

A corporation whose fiscal year ends on a date other than Dec. 31, 2022 should file its AFS within 120 calendar days from the end of its fiscal year.

Meanwhile, corporations whose securities are listed on the Philippine Stock Exchange (PSE), those whose securities are registered but not listed on the PSE, and those covered under Section 17.2 of Republic Act 8799, or the Securities Regulation Code (SRC), shall file their AFS within 105 calendar days after the end of their fiscal year, as an attachment to their annual reports.

Late filings will be accepted starting June 5, 2023, which will be subject to prescribed penalties.

On the other hand, the SEC said a GIS must be filed within 30 calendar days from the date of the actual annual stockholders’ meeting for stock corporations.

For non-stock corporations, a GIS must be filed within 30 calendar days from the date of actual annual members meeting and for foreign corporations within 30 days from the anniversary date of the issuance of the SEC license.

Furthermore, all corporations are required to submit their annual reportorial requirements online through eFAST.