June 24, 2024

The Securities and Exchange Commission has set the deadlines for the submission of Annual Financial Statements (AFS) for fiscal year 2023.

The Commission earlier issued SEC Memorandum Circular 2, s. 2024, which provides the schedules for filing of annual financial statements and general information sheet.

To maintain an organized and orderly filing of annual reports and to comply with the zero-contact policy and automation of business-related transactions mandated by Republic Act 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018, the SEC shall accept submission of reports online through the electronic filing and submission tool (EFAST).

For the submission of the AFS 2023, the SEC adopted a number coding scheme depending on the last numerical digit of their SEC registration or license numbers, for corporations whose fiscal year ends on Dec. 31, 2023.

Corporations whose fiscal years end on a date other than Dec. 31, 2023 shall file their AFS within 120 calendar days from the end of their respective fiscal years.

On the other hand, the submission of the GIS is within 30 calendar days after the conduct of the annual stockholders’ or members’ meeting.

SEC-regulated corporations are reminded to file before their respective deadlines to avoid penalties which may be incurred for late and non-submission of the AFS and other annual reports. – Press release