SEC Sets 2024 Deadlines for AFS, GIS Submission
All submissions should be made online, which means submissions made over the counter or through a courier is not allowed.
In compliance with the law, corporations are required to submit annual reports to the Securities and Exchange Commission (SEC). For 2024, the SEC has released its submission schedule for the annual financial statements (AFS) as well as general information sheets (GIS) of corporations.
It should be noted that all stock and non-stock corporations should submit these documents online via the SEC Electronic Filing and Submission Tool (eFAST) at efast.sec.gov.ph. Submissions made over the counter or through a courier will not be accepted by the SEC.
AFS Submission
The schedule for AFS filing for corporations whose fiscal years ended on December 31, 2023 is as follows:
| Last Digit of Registration or License Number | Date of AFS Filing |
| 1 and 2 | April 29 to 30; May 2 to 3; May 6 to 10 |
| 3 and 4 | May 13 to 17; May 20 24 |
| 5 and 6 | May 27 to 31; June 3 to 7 |
| 7 and 8 | June 10 to 11; June 13 to 14; June 17 to 21 |
| 9 and 0 | June 24 to 28; July 1 to 5 |
It should be noted that this schedule also applies to foreign corporations, particularly their:
- branch offices
- representative offices
- regional headquarters
- regional operating headquarters
On the other hand, corporations whose fiscal year ended on a date other than December 31, 2023, are required to file within 120 calendar days from the end of its fiscal year.
The following deadline for AFS filing should also be followed:
| Corporations with securities listed on the Philippine Stock Exchange (PSE) | AFS should be filed within 105 calendar days after the end of the fiscal year. This must be made as an attachment to its annual reports |
| Corporations with securities that are registered but are not listed on the PSE | |
| Corporations that are considered a public companies | |
| Corporations that are covered under Section 17.2 of Republic Act No. 8799, or the Securities Regulation Code (SRC) |
It should be noted that exemptions are granted to corporations whose AFS are being audited by the Commission on Audit (COA). However, such corporations are required to attach a duly signed affidavit to their AFS. This affidavit must attest to their timely provision of financial statements and supporting documents to COA.
The affidavit should also mention that the COA audit has just been concluded. A letter of confirmation from COA should likewise be included. The letter should confirm the contents of the affidavit.
GIS Submission
As for the GIS, submissions must be made within 30 calendar days based on the following:
- Stock corporations – from the date of the annual stockholders’ meeting
- Non-stock corporations – from the date of annual members meeting
- Foreign corporations – from the anniversary date of the issuance of the SEC license
It should be noted that One Person Corporations (OPCs) need not submit a GIS. However, the SEC Form for Appointment of Officers must be submitted instead. Submissions should be made within 15 days from the date of issuance of their certificate of incorporation.
Should there be subsequent changes, submissions must be made within five days from the date of said changes.
Fines and Penalties
Should a corporation file to comply with the deadlines set by the SEC, the commission can impose fines for violations. These fines can range from PHP 5,000 to PHP 2,000,000.
Such fines can be imposed on one person, stock, and non-stock domestic corporations, as well as stock and non-stock foreign corporations.
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