THE Securities and Exchange Commission (SEC) has 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).
The SEC, in a press statement Wednesday, January 29, said all corporations whose fiscal year ended on December 31 last year including branch offices, representative offices, regional headquarters and regional operating headquarters of foreign corporations shall file their AFS depending on the last numerical digit of their SEC registration or license numbers.
License numbers ending one (1) and two (2) should file on April 20, 21, 22, 23 and 24, three (3) and four (4) - April 27, 28, 29 and 30; five (5) and six (6) - May 4, 5, 6, 7 and 8; seven (7) and eight (8) - May 11, 12, 13, 14 and 15 ; and nine (9) and 10 - May 18, 19, 20, 21 and 22.
For corporations in Negros Occidental whose fiscal year ended last December 31, they may file their audited financial statements at SEC-Bacolod Extension Office on or before April 30 this year.
Broker dealers whose fiscal year ends on December 31 shall likewise file their SEC Form 52-AR with the commission depending on the last numerical digit of their registration numbers.
To maintain an organized and orderly filing of annual reports, the SEC advises companies to observe the prescribed schedule. It, however, shall allow companies to file their annual reports ahead of schedule to ensure compliance.
Late filings shall be accepted starting May 25 and shall be subjected to the prescribed penalties to be computed from the last day of filing schedule.
Meanwhile, companies whose fiscal year ends on a date other than December 31 shall file their AFS within 120 calendar days from the end of their fiscal year.
In the case of broker dealers, SEC Form 52-AR shall be filed within 110 calendar days after the close of the fiscal year.
Those whose securities are listed on the Philippine Stock Exchange (PSE), as well as those whose securities are registered but not listed in the PSE and public companies covered under Sec. 17.2 of Republic Act No. 8799, or the Securities Regulation Code (SRC), shall file their AFS within 105 calendar days after the end of their fiscal years as attached to their Annual Reports (SEC Form 17-A).
The commission pointed out that the submission of annual financial statements is pursuant to Republic Act No. 11232, or the Revised Corporation Code of the Philippines (RCC).
Corporations that do not meet the threshold may submit a duly notarized treasurer’s certification rather than an auditor’s report.
Meanwhile, those whose AFS are being audited by the Commission on Audit (COA) shall submit an affidavit attesting to the timely submission of the financial statements to COA and the conclusion of such audit, along with a confirmation letter from it.
For GIS filing, meanwhile, all corporations shall file their GIS within 30 calendar days from date of actual annual stockholders’ meeting (for stock corporations); date of actual annual members’ meeting (for non-stock corporations); and anniversary date of the issuance of the SEC license (for foreign corporations).
The SEC said they may directly file their AFS and GIS at the commission’s head office in Pasay City and in all satellite offices and extension offices in the country.
They may also submit the annual reports through the SEC Express Nationwide Submission facility or any courier or regular mail service.
The guidelines on the schedule of filing of AFS and GIS are provided in SEC Memorandum Circular No. 2, Series of 2020, it added. (PR)