The Securities and Exchange Commission (SEC) released the schedule of filing of corporations’ annual financial statements (AFS) and general information sheets (GIS) for 2025.
SEC Memorandum Circular No. 1, Series of 2025, released on March 3, outlines deadlines based on the last digit of a company’s registration or license number.
For companies with fiscal years ending Dec. 31, 2024, including local branches of foreign corporations, filing dates are as follows: May 2, 5-9, 12-16 for last digits 1 and 2; May 19-23, 26-30 for 3 and 4; June 2-6, 9-11, 13 for 5 and 6; June 16-20, 23-27 for 7 and 8; and June 30, July 1-4, 7-11 for 9 and 0. Corporations may file ahead of their assigned dates.
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, 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 nonstock 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 would 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 Aquino said.
“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,” he said.