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SEC-TEO reminds corporation of the deadlines of annual reports

SEC-TEO reminds corporations of the deadlines of annual reports

The Securities and Exchange Commission – Tarlac Extension Office (SEC-TEO) is advising all registered entities to file their annual reports through the Electronic Filing and Submission Tool (eFAST) portal before the deadlines set by the Commission.


The SEC issued Memorandum Circular No. 2, series of 2022, which provides the schedules for filing of annual financial statements and general information sheet.
 
Starting this year, all stock and nonstock corporations are required to submit their annual reports online through eFAST, previously called the online submission tool.

The eFAST is an online facility for submission of the General Information Sheet (GIS) and Annual Financial Statement (AFS), as well as special forms of financial statements for financing and lending companies.

To submit reports,the eFAST requires corporations to enroll their company and their designated authorized filer.


Atty, Richard R. Laus, SEC TEO Director, said in a statement that all corporations whose fiscal year ends on Dec. 31, 2021, shall file their AFS based on the last digit of the SEC registration or license number and the Tarlac Extension Office will implement the following coding schedule:


1 and 2 : July 1 to 15
3 and 4 : July 16 to 31
5 and 6 : August 1 to 15
7 and 8 : August 16 to 31
9 and 0 : September 1 to 15


Laus added that corporations whose fiscal year ends on a date other than December 31 should file their AFS within 120 calendar days from the end of their fiscal year. He also reminded that corporations may submit their reports on or before their respective filing dates.

Corporations, which submitted their reports late, will be subject to the prescribed penalties computed from the last date of this filing schedule.
 
On the other hand, the GIS must be filed within 30 calendar days from the date of the actual annual stockholders and members meeting for stock corporations and non-stock corporations, respectively, and from the anniversary date of the issuance of the SEC license for foreign
corporations.


The SEC Tarlac Extension Office created a contact center to assist its clients located in distant areas in terms of enrolling their company and authorized filer accounts to the eFAST facility through its email address: secteo@sec.gov.ph and mobile number: 0950-029-5715.
(SEC TEO)

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