SEC Encourages Entities to Submit Annual Reports on Schedule

(PIA) – The Securities and Exchange Commission (SEC) Cebu Extension Office is encouraging entities to submit their annual reports during the set schedules.

Atty. Theresa Marie Puno-de la Peña, Securities Counsel, announced the deadline schedule during the Association of Government Information Officers (AGIO) 7 and Philippine Information Agency (PIA) 7 Forum held at the PIA-7 Regional Office, Cebu City.

All corporations, including branch offices, representative offices, regional headquarters, and regional operating headquarters of foreign corporations shall file their Audited Financial Statement (AFS) depending on the last numerical digit of their SEC registration or license number in accordance with the following schedule: April 18-22: 1 and 2; April 25-29: 3 and 4; May 2-6: 5 and 6; May 10-13: 7 and 8; and May 16-20: 9 and 10.

De la Peña also said that those entities whose fiscal year ends on a date other than December 31, 2015 will file their AFS within 120 calendar days from the end of their fiscal year.

“For those entities will file their AFS earlier regardless of the last numerical digit of their registration or license number on or before the first day started in the coding schedules given,” continue De la Peña.

Late filing or filing after respective due dates shall be accepted starting May 23, 2016 and subject to the prescribed penalties which shall be computed from the date of the last day of filing schedule.

On the other hand, SEC also announced that their Cebu Satellite Office is now open at the Robinsons Galleria with business hours from 10:00am to 6:00pm (Mondays to Fridays).

With this new satellite office, people from the northern part of Cebu and from other provinces could now go to Robinsons Galleria.

The services offered in that satellite are the following:

Verification of Corporate and Partnership names however this will be reserved online and requires Reservation Payment Confirmation
Pre-processing of registration applications of corporations, partnerships, foreign corporations to establish a branch office, representative office, regional area and operating headquarters
Pre-processing of applications for amendments including license to transact business in the Philippines
Monitoring of corporations on their compliance with their reportorial requirements however the latest General Information Sheet and Audited Financial Statement must be presented upon filing of the request for monitoring
Releasing of Certificate of Registration and approval; and 6. Receiving of General Information Sheets (GIS) and Audited Financial Statement (AFS)

Atty. Tara Tsarina Perez-Retuya said the GIS should be filed within 30 calendar days from the actual annual meeting of the stockholders if it is a stock corporation or of the members meeting if it is a non-stock corporation.

SEC officials reminded all the officers, directors, and trustees of corporations of the deadlines to submit their annual reportorial requirements. (rmn/hfg/PIA-7/AGIO-7)