The Securities and Exchange Commission (SEC) has set the schedule of filing of corporations’ annual financial statements (AFS) and general information sheets (GIS) for this year.
The Commission on March 3 issued SEC Memorandum Circular No. 1, Series of 2025, which provides for the 2025 Filing of Annual Financial Statements and General Information Sheet.
Stock and non-stock 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 non-stock foreign corporations with assigned capital or total assets, respectively, of at least P1 million, as well as regional operating headquarters of foreign corporations with total revenues of P1 million or more are also required to submit audited financial statements.
Corporations, which do not meet the aforementioned threshold, may submit their AFS duly certified by their treasurer or chief financial officer.
All stock and non-stock corporations are required to submit their AFS and GIS online through the SEC Electronic Filing and Submission Tool (eFAST) at efast.sec.gov.ph.
The SEC said it will not accept submissions over the counter and through courier, in line with the zero-contact policy and automation of business-related transactions mandated by Republic Act No. 11032, or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018.
“Filing of reportorial requirements is mandatory and must be faithfully complied with every year. We urge all corporations to keep track of the deadlines to avoid getting fined for noncompliance,” SEC Chairperson Emilio B. Aquino said.
He added that, “The SEC is likewise authorized to suspend or revoke the corporate registration of duly registered companies for repeated failure to submit reports. We will be strictly implementing this authority as part of our efforts to enhance regulatory oversight over the corporate sector.”
All corporations, including branch offices, representative offices, regional headquarters and regional operating headquarters of foreign corporations whose fiscal years ended on December 31, 2024 shall file their AFS according to the last digit of their respective registration or license number.
The submission dates for last digits of 1 and 2 are from May 2 to 16, May 19 to 30 for those ending in 3 and 4, June 2 to 13 for number 5 and 6, June 16 to 27 for last digits 7 and 8, and June 30 to July 11 for those ending in 9 and 0.
All corporations may file their AFS before the first day of their respective coding schedules, regardless of the last numerical digit of their registration or license numbers.
A corporation whose fiscal year ended on a date other than December 31, 2024 shall file its AFS within 120 calendar days from the end of its 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 date other than December 31 shall file their reports 110 calendar days after the close of their respective fiscal year.
Corporations whose securities are listed on the Philippine Stock Exchange (PSE), those whose securities are registered but not listed on the PSE, those considered as public companies, and those covered under the Securities Regulation Code (SRC), shall file their AFS within 105 calendar days after the end of their respective fiscal years, as an attachment to their annual reports.
Further, corporations whose AFS are being audited by the Commission on Audit (COA) are exempted from the aforementioned deadlines, 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.
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.
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 subsequent changes.