Connect with us

Hi, what are you looking for?

Top Stories

Editor's Pick

SEC sets deadline for corporations’ annual reports

THE Securities and Exchange Commission (SEC) has set the deadlines for the submission of annual financial statements (AFS) and general information sheets (GIS) of corporations.

In a statement on Tuesday, the commission said the deadline for AFS submission will depend on the last digit of their registration or license number. The deadlines are provided under SEC Memorandum Circular No. 2 released on Jan. 27.

The AFS submission deadline covers all corporations, including branch offices, representative offices, regional headquarters, and regional operating headquarters of foreign corporations whose fiscal years ended on Dec. 31 last year.

Licenses or registration numbers ending in 1 and 2 should pass their AFS on the following dates: April 29 and 30, May 2, 3, 6, 7, 8, 9, and 10.

Those with licenses or registration numbers ending in 3 and 4 should file starting May 13, 14, 15, 16, 17, 20, 21, 22, 23, and 24.

Companies with licenses or registration numbers with 5 and 6 as the last digit should submit from May 27, 28, 29, 30, 31; and June 3, 4, 5, 6, and 7.

Licenses or registration numbers ending in 7 and 8 should file starting June 10, 11, 13, 14, 17, 18, 19, 20, and 21.

Companies who have 9 and 0 as last digits of their licenses or registration should pass from June 24, 25, 26, 27, 28; and July 1, 2, 3, 4, and 5.

The SEC added that a corporation with a fiscal year that ends on a date other than Dec. 31 last year should file its AFS within 120 calendar days from the end of its fiscal year.

The annual report of a broker dealer whose fiscal year ended on Dec. 31 should be filed on April 30, while those with fiscal years ending on a date other than Dec. 31 must file their reports 120 calendar days after the close of their respective fiscal years.

Corporations whose securities are listed on the Philippine Stock Exchange (PSE), as well as securities registered but not listed on the PSE, those considered as public companies, and those covered under Section 17.2 of Republic Act No. 8799 or the Securities Regulation Code (SRC) should file their AFS within 105 calendar days after the end of their respective fiscal years, as an attachment to their annual reports.

Corporations whose AFS are being audited by the Commission on Audit (CoA) are exempted from the deadlines as long as they attach a signed affidavit proving that they provided the CoA with the financial statements and supporting documents and that the CoA audit has just been concluded, as well as a letter from the CoA confirming such information.

“Failure to follow the formal requirements prescribed under Revised SRC Rule 68 shall be considered a sufficient ground for the imposition of penalties by the SEC. The acceptance and receipt by the commission of the financial statements shall be without prejudice to such penalties,” the commission said.

The deadline for GIS submission is within 30 calendar days from the date of the annual stockholders’ meeting for stock corporations; or from the date of actual annual members meeting for non-stock corporations; or from the anniversary date of the issuance of SEC license for foreign corporations.

“All stock and nonstock corporations are required to submit their annual reports online through the SEC electronic filing and submission tool,” the SEC said.

“The SEC shall not accept submissions over the counter and through courier, in line with the zero-contact policy and automation of business-related transactions mandated by Republic Act No. 11032, or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018,” it added.

The SEC also said that one-person corporations are not mandated to submit the GIS, but should submit the form for appointment of officers within 15 days from the date of issuance of their certificate of incorporation, or within five days from subsequent changes. — Revin Mikhael D. Ochave

You May Also Like


As the world seeks sustainable and energy-efficient solutions for heating and cooling, the heat pump market is experiencing a significant surge. According to the...

Editor's Pick

FINANCE SECRETARY RALPH G. RECTO — DEPARTMENT OF FINANCE By Keisha B. Ta-asan, Reporter NEWLY APPOINTED Finance Secretary Ralph G. Recto took his oath as...


The introduction of aggressive climate objectives by global economies and growing prospects for reducing carbon emissions are driving the growth of the district heating...


In the dynamic automotive sector, consistent growth of the electric vehicle (EV) charging industry has become increasingly evident. Consumers and businesses alike are recognizing...

Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 Secrets Of Richdads. All Rights Reserved.