The Philippine Securities and Exchange Commission issued SEC Memorandum Circular No. 1, Series of 2025 setting the 2025 filing schedule for corporations’ annual financial statements (AFS) and general information sheets (GIS), with submissions required to be made online via the SEC Electronic Filing and Submission Tool (eFAST). Over-the-counter and courier submissions will not be accepted. Audited AFS are required for stock and nonstock corporations with total assets or total liabilities of at least PHP 600,000, and for foreign corporation branch or representative offices and regional operating headquarters meeting specified PHP 1 million capital, assets, or revenue thresholds; entities below the thresholds may submit AFS certified by the treasurer or chief financial officer. For fiscal years ending 31 December 2024, AFS deadlines are staggered by the last digit of the SEC registration or license number, running from 2 May to 11 July, with early filing allowed ahead of a corporation’s coding window; corporations with other fiscal year-ends must file within 120 calendar days from year-end. Brokers and dealers with fiscal years ending 31 December must file annual reports by 30 April, or within 110 calendar days after fiscal year-end otherwise, while Philippine Stock Exchange listed firms, registered-but-unlisted issuers, public companies, and entities covered under Securities Regulation Code Section 17.2 must file AFS within 105 calendar days after fiscal year-end as an attachment to their annual reports. Companies audited by the Commission on Audit are exempt from the stated deadlines if they include a signed affidavit and a confirming letter from the Commission on Audit, and failures to meet formal requirements under Revised Securities Regulation Code Rule 68 may still trigger penalties. GIS must be filed within 30 calendar days from the actual annual stockholders’ meeting for stock corporations, the annual members meeting for nonstock corporations, or the anniversary of SEC licensing for foreign corporations. One person corporations are not required to submit the GIS but must file the SEC form for appointment of officers within 15 days of incorporation or within five days of subsequent changes.
Philippine Securities and Exchange Commission 2025-03-15
Philippine Securities and Exchange Commission sets 2025 annual financial statement and general information sheet filing deadlines with mandatory eFAST submission
The Philippine SEC issued Memorandum Circular No. 1, Series of 2025, mandating online submissions of annual financial statements (AFS) and general information sheets (GIS) via eFAST. Audited AFS are required for corporations meeting specific asset or liability thresholds, with staggered deadlines based on registration numbers. GIS must be filed within 30 days of relevant meetings, with exemptions and specific requirements for certain entities.