SEC calls on corporations to file annual financial reports

The Securities and Exchange Commission released the schedule of the annual filing of companies’ annual reports, particularly their Audited Financial Statements (AFS) for fiscal year 2019, and General Information Sheet (GIS).
All corporations whose fiscal year ended on Dec. 31, 2019, including branch offices, representative offices, regional headquarters and regional operating headquarters of foreign corporations, shall file their AFS at the SEC head office in Pasay City, satellite offices; and at Cebu, Davao, and Iloilo extension offices depending on the last numerical digit of their SEC registration or license numbers, as follows: April 20 to 24 – 1 and 2; April 27 to 30 – 3 and 4; May 4 to 8 – 5 and 6 May 11 to 15 – 7 and 8; and May 18 to 22 – 9 and 0.
Corporations may opt to submit their reports at the SEC Baguio extension office located at 3rd floor Newtown Square, 42 Navy Base Road.
The coding system does not apply at the SEC Baguio extension office, where the deadline is April 30.
Entities whose fiscal year ends on a date other than Dec. 31, 2019 shall file their AFS within 120 calendar days from the end of their fiscal year. In the case of broker dealers, the SEC Form 52-AR should be filed within 110 calendar days after the close of the fiscal year.
Stock and non-stock corporations with total assets or total liabilities of P600,000 or more; branch offices/representative offices of stock foreign corporations with assigned capital or with total assets in the equivalent amount of P1 million or more; and regional operating headquarters of foreign corporations with total revenues in the equivalent amount of P1 million or more shall submit financial statements audited by an independent certified public accountant and shall be stamped as received by the Bureau of Internal Revenue or its authorized banks.
Corporations that do not meet the threshold may submit a duly notarized treasurer’s certification rather than an auditor’s report.
All corporations shall also file their GIS within 30 calendar days from date of actual annual stockholders’ or members’ meeting. For foreign corporations, the GIS should be submitted on the anniversary date of the issuance of their SEC license.
The GIS form may be downloaded from the reportorial requirements tab at www.sec.gov.ph. – Helen Veryan C. Valdez