SEC Reportorial Requirements

The Securities and Exchange Commission (SEC) has issued a manual that specifies the (a) reports that should be submitted to the agency; (b) the filing period; (c) FS that are required to be audited or certified; (d) the format of these documents; and (e) other references.

A. Reports for all SEC-Registered Corporations with Primary License

  1. General Information Sheet (GIS) – In 4 copies. GIS should be certified and sworn to by the corporate secretary. In the submission of GIS, the 30-day calendar period shall be counted from the date the annual stockholders’ meeting was actually held.
  2. Audited Financial Statements (AFS) stamped “RECEIVED” by BIR – In 4 copies.
  3. Diskette with the electronic file of the GIS and FS template (GFFS or SFFS) – For corporations with Gross Sales/Revenue of at least Php 10 million. The GIS shall be accompanied by a Certification under oath by the Corporate Secretary while the FS template by the Treasurer. Corporations with subsidiaries should submit both their parent and consolidated GFFS or SFFS.

B. Filing Period

GIS:

  1. Domestic Stock/Non-stock Corporations – Within 30 days from the date of annual stockholders’ meeting.
  2. Branch Office & Representative Office of Foreign Corporations – Within 30 days from the anniversary date of the issuance of the license.
  3. ROHQs/RHQs of Multinational Companies – Within 30 days after the issuance of the certificate of registration (COR), and then annually, within 30 days after the anniversary date of the issuance of COR.

AFS:

  1. Within 120 days after the end of the fiscal year, as indicated in the Financial Statements.

C. FS Requirements

For Domestic Corporations, to be

  1. Audited by an independent CPA registered with the BOA – (a) stock corporations with paid-up capital of Php 50,000 or more; and (b) non-stock corporations with annual gross receipts of Php 100,000 or more, or total assets of Php 50,000,000 or more.
  2. Certified under oath by the Treasurer of the Corporation – (a) stock corporations with paid-up capital of less than Php 50,000; and (b) non-stock corporations with annual gross receipts of less than Php 100,000 or a total assets of less than Php 500,000.

For Foreign Corporations, to be

  1. Audited by an independent CPA registered with the BOA – (a) branch office of a stock or non-stock foreign corporation with total assets of Php 500,000 or more; (b) representative office with a total assets of Php 500,000 or more; (c) ROHQs with assigned capital of Php 50,000 or more; and (d) RHQs with total assets of Php 50,000 or more.
  2. Certified under by the Treasurer of the Corporation – (a) branch office of a stock foreign corporation with assigned capital of less than Php 50,000; (b) branch office of a non-stock foreign corporation with total assets of less than Php 500,000; (c) representative office with total assets of less than Php 500,000; (d) ROHQs with assigned capital of less than Php 500,000; and (e) RHQs with total assets of less than Php 500,000.

D. Format specifications

The GIS, AFS, General and Special FS reports should be printed out on an A4-sized bond paper under a standard cover page or sheet.

E. Other matters

Both the hard and softcopies of the reports are available at the Main and Extension offices of the SEC. The forms and revisions thereof may also be downloaded from the SEC website at http://www.sec.gov.ph.

Source: http://www.sec.gov.ph/wp-content/uploads/2015/10/Citizens-Manual-on-Reportorial-Requirements.pdf

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