Accounting Alert

This Accounting Alert is issued to circulate Securities and Exchange Commission (SEC or the Commission) Memorandum Circular No 09 (MC/the Circular) series of 2022 dated December 6, 2022. 

The SEC has set the deadlines for the filing and submission of the 2022 audited financial statements (AFS) and general information sheet (GIS) of corporations through the Electronic Filing and Submission Tool (eFAST).

I. Annual Financial Statements (AFS)

All corporations, including branch offices, representative offices, regional headquarters and regional operating headquarters of foreign corporations whose fiscal year ends on December 31, 2022 shall file their AFS based on the last digit of the SEC registration or license number in accordance with the following schedule:

1 and 2 :  May 2,3,4,5

3 and 4 :  May 8,9,10,11,12

5 and 6 :  May 15,16,17,18,19

7 and 8 :  May 22,23,24,25,26

9 and 0 :  May 29,30,31 and June 1,2

The SEC extension offices will likewise implement the same coding schedule. Corporations may submit their reports on or before their respective filing dates.

Corporations whose securities are listed on the Philippine Stock Exchange and are covered under Section 17.2 of Republic Act No. 8799, or the Securities Regulation Code (SRC), shall file their AFS within 105 calendar days after the end of their fiscal year, as an attachment to their annual reports. 

SEC will accept late filings starting June 5, 2023. Corporations which submitted their reports late will be subject to the prescribed penalties computed from the last date of the aforementioned filing schedule.

Corporation whose fiscal year ends on a date other than December 31, 2022 should file its AFS within 120 calendar days from the end of its fiscal year.

II. General Information Sheet (GIS)

All corporations shall file their GIS through eFAST within 30 calendar days from:

a. Stock Corporations – date of actual annual stockholders’ meeting

b. Non-Stock Corporations – date of actual annual members meeting

c. Foreign Corporations – anniversary date of the issuance of the SEC License.

III. All Reports

All corporations are required to submit their annual reportorial requirements online through eFAST at https://cifss-ost.sec.gov.ph. 

Any problem encountered in the enrollment and submission of AFS and GIS in the eFAST shall be accommodated through the email addresses and telephone numbers provided in the SEC Contact Center posted at https://www.sec.gov.ph/contact-us/

Other reports that are not yet accepted through eFAST may be submitted by sending through email at ictdsubmission@sec.gov.ph.  Submission of reports over the counter and/or through mail or courier under the SEC Express Nationwide Submission facility shall no longer be accepted.

See attached Memorandum Circular for further details.