LEGAZPI CITY – The Securities and Exchange Commission (SEC) in Bicol is reminding business owners on the deadline for the filing of annual reports of corporations, particularly the annual financial statements (AFS) and general information sheet (GIS).
Glorei Allelu Lindio, SEC-Bicol spokesperson, in an interview on Tuesday, said corporations in Bicol are advised to submit notarized hard copies of the AFS with stamp of the Bureau of Internal Revenue or its authorized bank at the SEC office here.
"For corporations with fiscal year ending on November 30, 2019 and December 31, 2019, the deadline is on June 30, 2020," she said.
Lindio said SEC-Legazpi City shall nevertheless accept submission of AFS after the June 30, 2020 deadline which shall be considered as late submission subject to appropriate penalty.
"Corporations filing the AFS at the SEC Head Office in Pasay City shall follow the procedure and coding schedule based on the last numerical digit of the company’s registration number, from June 29, 2020 to August 7, 2020, as prescribed under SEC Memorandum Circular No. 18, series of 2020," she said.
The commission also reminded the business owners to submit the GIS within 30 days from the scheduled date of election and annual meeting as indicated in the by-laws of the corporation.
"Should the corporation fail to hold the meeting and election as scheduled, notice of postponement shall be filed with the SEC within the same 30-day period explaining the reason for the postponement and specifying the new schedule which should be within 60 days from the original schedule, we allowed the submission of GIS via email," she added.
This will enable corporations to comply with the 30-day period prescribed under the law even when the SEC offices are closed for transactions due to community quarantine.
SEC, however, said hard copies of the GIS submitted via e-mail should nonetheless be submitted on or before June 30.
For further inquiries, the SEC-Legazpi Extension Office may be reached through telephone number (052) 480-8272, mobile number 0929-883-1917 or via email at secbicol@gmail.com. (PNA)
