SEC sets deadline for online filing of AFS, GIS

The Securities and Exchange Commission (SEC) has set the deadlines for the online submission of the audited financial statements (AFS) and general information sheet (GIS) of corporations.

Starting this year, all stock and nonstock corporations are required to submit their annual reports online through the Electronic Filing and Submission Tool (eFAST), previously called the Online Submission Tool.


Previously, only stock corporations were required to submit their annual reports online during the initial launch of eFAST in March 2021. Nonstock corporations initially had the option to submit hard copies of their reports.

All corporations, including branch offices, representative offices, regional headquarters and regional operating headquarters of foreign 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:

1 and 2 : July 1 to 15

3 and 4 : July 16 to 31

5 and 6 : Aug. 1 to 15

7 and 8 : Aug. 16 to 31

9 and 0 : Sept. 1 to 15

The SEC extension offices will likewise implement the coding schedule. Corporations may submit their reports on or before their respective filing dates.

Meanwhile, a corporation whose fiscal year ends on a date other than Dec. 31, 2021 should file its AFS within 120 calendar days from the end of its fiscal year.

The annual report of a broker dealer whose fiscal year ends on Dec. 31 must be filed depending on the last numerical digit of its registration number as prescribed by the Commission, while those with fiscal years ending on a date other than Dec. 31 must be filed 110 calendar days after the close of such fiscal year.

Corporations whose securities are listed on the Philippine Stock Exchange and are covered under Section 17.2 of the Securities Regulation Code (SRC), are encouraged to observe the due date of filing for their AFS, which is within 105 calendar days after the end of their fiscal year, as an attachment to their annual reports.

However, such entities will also be given an extension of until May 15, 2022 to file their annual reports due to current circumstances.

Further, corporations whose AFS are being audited by the Commission on Audit (COA) are exempted from the aforementioned coding schedule, provided they attach to their AFS a duly signed affidavit attesting that they timely provided the COA with the financial statements and supporting documents and that the COA audit has just been concluded, as well as a letter from the COA confirming such information.

The Commission will accept late filings starting September 16, 2022. Corporations, which submitted their reports late, will be subject to the prescribed penalties computed from the last date of the aforementioned filing schedule.

On the other hand, 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 of non-stock corporations, and from the anniversary date of the issuance of the SEC license for foreign corporations.

All corporations are required to submit their annual reportorial requirements online through eFAST. Hard copies of reports submitted through eFAST will no longer be required.

Corporations and their authorized filers must enroll in the eFAST before they can submit reports to the system. They have until March 31, 2022 to complete their enrollment.

The submission of reports over the counter and/or through mail or courier via SEC Express Nationwide Submission (SENS) shall no longer be accepted.