The Securities and Exchange Commission has extended the deadline for the submission of the General Information Sheet (GIS) to allow corporations to cope with the new rounds of enhanced community quarantine and the transition to an online submission system.
In a notice issued on March 31, the SEC announced that all stock and non-stock corporations have 90 days from the date of the annual stockholders’ meeting or annual members’ meeting fixed in their bylaws or as determined by the board of directors/trustees to submit their GIS.
For instance, a corporation that held its annual meeting on March 30 will have until June 28 to submit its GIS. Meanwhile, a corporation originally due to submit the report on or before March 12 will have an additional 60 days, or until May 11, to comply with the requirement.
The adjusted deadline applies to stock corporations, which held their annual stockholders’ meetings prior and during the enrollment period for the newly launched SEC Online Submission Tool (OST).
The enrollment period opened last March 15 and will close on December 15. Stock corporations are required to enroll in and submit their annual reports through the OST starting this year. Meanwhile, non-stock corporations have until 2022 to enroll in and shift to the OST.
The adjusted deadline also covers corporations which failed to hold their annual meetings in 2020 and were initially given until Jan. 30 to submit their GIS.
Such corporations will have until April 30 to submit their GIS through the OST for stock corporations or over the counter for nonstock corporations.
The SEC will allow over-the-counter submissions for stock corporations that encountered problems during their enrollment and submission in the OST, provided that they present the error message from the OST, in accordance with Section 11 of SEC Memorandum Circular 3, s. 2021.
The public is advised to transact business online, as the SEC will continue implementing work-from-home and other alternative work arrangements, in accordance with the guidelines issued by the Civil Service Commission.
For inquiries and other concerns, the public may reach the SEC Baguio Extension Office during office hours through [email protected] and phone number 309-5804.
The public is advised to monitor the SEC website at www.sec.gov.ph and official Facebook page at www.facebook.com/PhilippineSEC for more information and further announcements. – Press release