Corporations listed on the Philippine Stock Exchange (PSE), those whose securities are registered but not listed on the PSE, public companies, and those covered under Section 17.2 of Republic Act No. 8799, also known as the Securities Regulation Code (SRC), are required to file their Audited Financial Statements (AFS) within 105 calendar days after the end of their respective fiscal years. This submission should be included as part of their annual reports.
Additionally, corporations whose AFS are audited by the Commission on Audit (COA) are exempt from the 105-day deadline. However, to qualify for this exemption, they must attach an affidavit to their AFS. The affidavit should confirm that the corporation has timely provided the COA with its financial statements and supporting documents and that the COA audit has been completed. They must also submit a letter from the COA confirming the completion of the audit.
Failure to comply with the requirements outlined in the Revised SRC Rule 68 may lead to the imposition of penalties by the Securities and Exchange Commission (SEC). The SEC’s acceptance of the financial statements will not preclude the enforcement of these penalties.
General Information Sheet (GIS) Filing Deadline:
Corporations are also required to file their General Information Sheet (GIS) within 30 calendar days from the date of their annual stockholders’ meeting for stock corporations, from the date of the annual members’ meeting for non-stock corporations, or from the anniversary of the issuance of the SEC license for foreign corporations.
The respective GIS forms for stock corporations, non-stock corporations, branch offices, representative offices of foreign corporations, and regional operating headquarters or regional headquarters of multinational companies are available for download on the SEC website.
Notably, one-person corporations (OPCs) are not required to submit the GIS. However, they must submit the SEC Form for Appointment of Officers within 15 days from the issuance of their certificate of incorporation or within 5 days of any subsequent changes in their officers.
By adhering to these deadlines and requirements, corporations ensure they remain compliant with SEC regulations and avoid any potential penalties.
