SEC Suspends Per-Month Delay Penalty for Late and Non-Filing of Reportorial Requirements until end of 2026
Summary
The Securities and Exchange Commission (SEC) issued Memorandum Circular (MC) No. 16, Series of 2026, suspending the per-month-of-delay penalty for late and non-filing of reportorial requirements under MC 06-2024. Notwithstanding the suspension, corporations are still required to comply with filing deadlines, and the base penalties for late or non-filing continue to apply. The suspension strictly covers only the incremental monthly penalty component.
The suspension applies prospectively across all covered corporations, regardless of size or compliance history, and will remain in effect until December 31, 2026.
Key Points
Presented below is a summary of the key provisions of the Circular for ease of reference:
References
Relevant Accounting Alerts:
- Extension of the Deadline for Filing of 2025 Annual Financial Statements (AFS)
- Extension of Temporary Use of 2020 Form for Filing of General Information Sheet on eFAST until 30 June 2026
This Accounting Alert provides only a high‑level overview of the regulatory updates. For complete and authoritative guidance, readers are encouraged to review the full Notice issued by the Securities and Exchange Commission below.
To explore additional SEC Memorandum Circulars referenced in this alert or to access related regulatory issuances, you may also visit www.sec.gov.ph for more comprehensive guidance.
