Accounting Alerts

SEC Extension of Deadline for the Submission of General Information Sheet for 2021

This Accounting Alert is issued to circulate Securities and Exchange Commission (SEC/Commission) notice dated March 31, 2021 on the extension of deadline for the submission of General Information Sheet (GIS) for 2021.

Introduction

Due to the implementation of the enhanced community quarantine in the National Capital Region and contiguous provinces of Bulacan, Cavite, Laguna, and Rizal to address the rising cases of COVID-19 and in view of the implementation of the Online Submission Tool (OST) for the submission of reports online, as provided under SEC Memorandum Circular No. 3 series of 2021 (SEC MC No. 03-2020), SEC hereby extends the deadline for the submission of the GIS and reiterates the interim filing procedures, as follows:

Coverage

The deadline and filing procedure provided herein shall be observed for the submission of the GIS to the SEC Main Office and Extension Offices by the following:

  1. Stock corporations that were able to hold their Annual Stockholders’ Meeting prior and/or during the OST enrollment period which started last March 15, 2021 and will end until December 15, 2021, and for those corporations that were not able to hold any Annual Stockholders’ Meeting in 2020 who have until January 30, 2021 to submit their GIS.
  2. Corporations that encountered problems during their enrollment and submission of GIS through the OST shall be accommodated over-the-counter submission, provided that, filers present the Notice from the OST that problems have been encountered during the process of enrollment and/or submission, as stated under Section 11 of SEC MC No. 03-2020.
  3. Non-stock corporations are given the option of whether they will enroll and submit their GIS through OST or proceed to the SEC to submit their GIS over the counter.

Adjusted Deadlines

For all corporations, whether stock or non-stock, the GIS shall be submitted within 90 calendar days after the Annual Stockholder’s Meeting or Annual Members’ Meeting of the Directors, Trustees and Officers of the corporation, as fixed in the by-laws or as determined by the Board of Directors/Trustees. This will also apply to those corporations mentioned under item no. 1 above.

Originally, under SEC MC No. 03-2020, all corporations were required to submit their GIS 30 days after their Annual Meeting counted from their date of Annual Meeting or Actual Meeting.

The Commission shall make further adjustments in its operations, when necessary.

 

See attached SEC notice for further details.