SEC announces financial statement filing deadlines for 2025
The Securities and Exchange Commission (SEC) has released guidelines for the filing of corporations’ annual financial statements (AFS) and general information sheets (GIS) in 2025. In a recent memorandum, the SEC outlined the specific requirements and deadlines for corporations to submit their financial documents.
According to the SEC, stock and non-stock corporations with total assets or liabilities of at least P600,000 must submit their audited financial statements. Additionally, branch offices of foreign corporations with capital of at least P1 million, as well as regional operating headquarters with revenues of P1 million or more, are also required to submit audited financial statements. In cases where corporations do not meet these thresholds, they may submit AFS certified by their treasurer or chief financial officer.
To streamline the filing process, all corporations are mandated to submit their AFS and GIS online through the SEC Electronic Filing and Submission Tool (eFAST) at efast.sec.gov.ph. The SEC has emphasized that submissions will not be accepted in-person or via courier to adhere to the zero-contact policy and enhance business automation as mandated by the Ease of Doing Business and Efficient Government Service Delivery Act of 2018.
SEC Chairperson Emilio B. Aquino emphasized the importance of timely compliance with reporting requirements to avoid fines and potential repercussions. He stated, “Filing of reportorial requirements is mandatory and must be faithfully complied with every year.” Aquino warned that the SEC has the authority to suspend or revoke the registration of companies that repeatedly fail to submit required reports.
The SEC has established specific deadlines for the submission of AFS based on the last digit of corporations’ registration or license numbers. The filing dates range from May to July, depending on the numerical digit of the registration number. Corporations whose fiscal years do not end on December 31, 2024, are required to file their AFS within 120 calendar days from the end of their fiscal year.
In addition, brokers and dealers with fiscal years ending on December 31 must file their reports by April 30, while others must submit within 110 calendar days after the close of their fiscal year. Companies listed on the Philippine Stock Exchange (PSE) or considered public entities, along with those under the Securities Regulation Code (SRC), have specific deadlines for submitting their AFS.
Corporations undergoing auditing by the Commission on Audit (COA) have some exemptions from the filing deadlines with the submission of necessary documents. As for GIS, stock and non-stock corporations must file within 30 calendar days from the date of their annual meetings, while foreign corporations must file within 30 days of their license anniversary date.
Overall, the SEC’s guidelines aim to enhance regulatory oversight in the corporate sector by ensuring timely and accurate reporting of financial information from all entities. Adhering to these requirements is essential for corporations to maintain compliance and avoid penalties.
