SEC extends deadlines for annual reports anew

The Securities and Exchange Commission (SEC) has extended further the deadlines for the submission of annual financial statements (AFS) and the General Information Sheet (GIS).

In a notice issued on August 11, the Commission announced that corporations, regardless of their SEC registration or license numbers, will have until September 30 to submit the printed or hard copies of their AFS for the periods ending November 30, 2019 and December 31, 2019 to the SEC Main Office and Extension Offices.

Corporations, whose fiscal years ended between January 31, 2020 and June 30, 2020, shall have 30 more days to file the printed or hard copies of their AFS, as follows:

Fiscal Year EndPreviously Adjusted DeadlineNew Filing Deadline
31 January 202029 July 202028 August 2020
29 February 202027 August 202028 September 2020
31 March 202027 September 202027 October 2020
30 April 202012 October 202011 November 2020
31 May 202028 September 202028 October 2020
30 June 202028 October 202027 November 2020

However, publicly listed companies, other issuers of registered securities and public companies shall continue complying with SEC Memorandum Circular No. 5, Series of 2020 and SEC Memorandum Circular No. 17, Series of 2020 in relation to their filing of annual reports.

Meanwhile, corporations, which held their annual stockholders’ meetings during the Enhanced Community Quarantine and Modified Enhanced Community Quarantine in Metro Manila, will have until September 30 to submit the printed or hard copies of their GIS to the SEC Main Office and Extension Offices.

All corporations shall comply with the Commission’s directive that submissions to the SEC Main Office shall be made through courier services, including express delivery services, or through the Philippine Postal Corporation (PHLPost) using the SEC Express Nationwide Submission (SENS) facility at //sens.secexpress.ph.

In the meantime, corporations may submit the scanned copies of their duly signed and, if applicable, notarized reports through email at the addresses provided.

The documents shall be considered received on the date reflected in the Acknowledgment Receipt that the Commission shall send through email. However, the printed reports shall still be submitted through courier or PHLPost on or before the deadlines provided.

The SEC Main Office located in Secretariat Building, Philippine International Convention Center (PICC) Complex, Roxas Boulevard, Pasay City will operate with a skeleton workforce while Metro Manila remains under MECQ from August 4 to 18.

The Commission will accordingly reschedule all other on-site transactions and activities during the MECQ period, including the SEC Certification Examinations scheduled for 5, 7, 10, 12 and 17 August 2020.

The Commission, however, will continue implementing work-from-home and other alternative work arrangements, in accordance with the guidelines issued by the Civil Service Commission, to minimize disruption in the delivery of services to the public.

Accordingly, the public may continue transacting business online. The pertinent guidelines and interim hotline numbers are available on the SEC website at //www.sec.gov.ph/investors-education-and-information/covid-19-related- issuances. 

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