The Securities and Exchange Commission (SEC) has released the schedule of filing of corporations’ annual financial statements (AFS) and general information sheets for this year.
SEC on 3 March issued SEC Memorandum Circular 1, series of 2025, which provides for the 2025 filing of Annual Financial Statements and General Information Sheet.
Stock and nonstock corporations with total assets or total liabilities of at least P600,000 are required to submit annual audited financial statements.
Branch offices or representatives of stock and nonstock foreign corporations with assigned capital or total assets, respectively, of at least P1 million, as well as regional operating headquarters of foreign corporations with total revenues of P1 million or more are also required to submit audited financial statements.
Corporations, which do not meet the threshold, may submit their AFS duly certified by their treasurer or chief financial officer.
All stock and nonstock corporations are required to submit their AFS and GIS online through the SEC Electronic Filing and Submission Tool at efast.sec.gov.ph.
The SEC shall not accept submissions over the counter and through courier, in line with the zero-contact policy and automation of business-related transactions mandated by Republic Act 11032, or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018.
“Filing of reportorial requirements is mandatory and must be faithfully complied with every year. We urge all corporations to keep track of the deadlines to avoid getting fined for noncompliance,” SEC chairperson Emilio Aquino said.
“The SEC is likewise authorized to suspend or revoke the corporate registration of duly registered companies for repeated failure to submit reports. We will be strictly implementing this authority as part of our efforts to enhance regulatory oversight over the corporate sector,” he added.