SEC sets deadlines for filing of annual reports

The Securities and Exchange Commission (SEC) has set the deadlines for the submission of annual reports of companies this year.

The SEC said all corporations, including branch offices, representative offices, regional headquarters and regional operating headquarters of foreign corporations whose fiscal years ended on Dec. 31, 2023 must file their annual financial statements (AFS) according to a required schedule based on the last digit of their respective registration or license number.

Corporations whose registration or license number ends with one and two could submit from April 29 to May 10, while those ending with three and four could submit from May 13 to 24.

Submission dates for those registration numbers ending in five and six are scheduled from May 27 to June 7, those ending in seven and eight are from June 10 to 21, and those ending in nine and zero are from June 24 to July 5.

The SEC said a corporation whose fiscal year ended on a date other than Dec. 31, 2023 must file its AFS within 120 calendar days from the end of its fiscal year.

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

As for corporations whose securities are listed on the Philippine Stock Exchange (PSE), those whose securities are registered but not listed on the PSE, those considered as public companies, and those covered under Section 17.2 of the Securities Regulation Code, should file their AFS within 105 calendar days after the end of their respective fiscal years, as an attachment to their annual reports.

The SEC said corporations whose AFS are being audited by the Commission on Audit are exempted from the deadlines, provided they attach to their AFS a duly signed affidavit attesting that they timely provided the COA with the financial statements and supporting documents, among others.

“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.

General information sheets (GIS) of corporations, meanwhile, must be filed within 30 calendar days from the date of the actual annual stockholders’ meeting for stock corporations, from the date of actual annual members meeting for nonstock corporations, and from the anniversary date of the issuance of the SEC license for foreign corporations.

The SEC said one person corporations are not required to submit the GIS, but they must submit the SEC 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.