The Securities and Exchange Commission- Tarlac Extension Office (SEC-TAREO) is reminding all corporations in Central Luzon to comply with the submission of their Annual Financial Statements (AFS) and General Information Sheets (GIS) for 2025 through the Electronic Filing and Submission Tool (EFAST) facility.
On March 3, the Commission issued SEC Memorandum Circular No. 1, Series of 2025, which provides for the 2025 filing of annual financial statements and general information sheets.
Stock and nonstock corporations with total assets or total liabilities of at least P600,000 are required to submit annual audited financial statements.
Branch offices or representatives of stock and nonstock foreign corporations with assigned capital or total assets of at least P1 million, as well as regional operating headquarters of foreign corporations with total revenues of P1 million or more, must also submit audited financial statements.
Corporations that do not meet these thresholds may submit their AFS duly certified by their treasurer or chief financial officer.
To streamline the filing process, all stock and nonstock corporations must submit their AFS and GIS online through the SEC Electronic Filing and Submission Tool (eFAST) at efast.sec.gov.ph. The SEC will not accept over-the-counter or courier submissions, following the zero-contact policy and the automation of business-related transactions under Republic Act No. 11032, or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018.
SEC-TAREO Director Richard R. Laus urged corporations in the region to comply with the reportorial requirements.
“The SEC is committed to ensuring transparency and good corporate governance. We strongly encourage companies in Central Luzon to adhere to the deadlines and submit their reports early to avoid penalties and potential sanctions. Non-compliance may lead to fines, and repeated failure to file reports could result in the suspension or revocation of corporate registration,” Director Laus said.
AFS Deadline
All corporations, including branch offices, representative offices, regional headquarters, and regional operating headquarters of foreign corporations whose fiscal years ended on December 31, 2024, must file their AFS according to the following schedule based on the last digit of their respective registration or license number:
|
Submission Dates |
Last Digit of SEC Registration/ License Number |
|
May 2, 5, 6, 7, 8, 9, 12, 13, 14, 15, 16 |
1 and 2 |
|
May 19, 20, 21, 22, 23, 26, 27, 28, 29, 30 |
3 and 4 |
|
June 2, 3, 4, 5, 6, 9, 10, 11, 13 |
5 and 6 |
|
June 16, 17, 18, 19, 20, 23, 24, 25, 26, 27 |
7 and 8 |
|
June 30, July 1, 2, 3, 4, 7, 8, 9, 10, 11 |
9 and 0 |
Corporations may file their AFS before the start of their assigned filing period, regardless of their registration or license number.
Corporations with fiscal years ending on a date other than December 31, 2024, must file their AFS within 120 calendar days from the close of their fiscal year.
The annual reports of brokers and dealers whose fiscal year ended on December 31 must be filed on April 30, while those with fiscal years ending on a different date must submit their reports within 110 calendar days after the close of their fiscal year.
Corporations whose securities are listed on the Philippine Stock Exchange (PSE), those whose securities are registered but not listed on the PSE, public companies, and those covered under Section 17.2 of Republic Act No. 8799, or the Securities Regulation Code (SRC), must file their AFS within 105 calendar days after the end of their respective fiscal years, as an attachment to their annual reports.
Corporations whose AFS are being audited by the Commission on Audit (COA) are exempt from the above deadlines. However, they must attach a signed affidavit attesting that they provided COA with the financial statements and supporting documents on time and that the COA audit has just been completed. A confirmation letter from COA must also be attached.
Failure to comply with the prescribed AFS format under Revised SRC Rule 68 may result in penalties. The SEC’s acceptance and receipt of financial statements do not exempt corporations from potential penalties for noncompliance.
GIS Deadline
Meanwhile, the GIS must be filed within 30 calendar days from the date of the actual annual stockholders’ meeting for stock corporations, from the date of actual annual members meeting for non-stock corporations, and from the anniversary date of the issuance of the SEC license for foreign corporations.
The respective GIS forms for stock corporations, nonstock corporations, branch offices and representative offices of foreign corporations, and regional operating headquarters and regional headquarters of multinational companies may be downloaded from the SEC website.
One-person corporations (OPCs) are not required to submit the GIS. However, they must submit the SEC Form for Appointment of Officers within 15 days from the date of issuance of their certificate of incorporation or within five days from any subsequent changes.
To avoid penalties and administrative sanctions, the SEC informs all corporations in the region to comply with these report deadlines. For further inquiries and assistance, companies in Central Luzon may contact the SEC Tarlac Extension Office through its hotline number at 0950-029-5715 or email address at secteo@sec.gov.ph.
