In an effort to maintain accurate database which shall determine and identify active and inactive corporations and those already due to be placed on delinquent status, Securities and Exchange Commission (SEC) issued Memorandum Circular No. 6, series of 2024 dated 27 March 2024 (SEC MC 6-2024)
MC 6-2024 reminds registered corporations on the filing deadlines of audited financial statements (AFS), general information sheet (GIS), and Memorandum Circular No. 28, series 2020 on registered email accounts of corporations as follows:
- General information sheet to be filed within thirty (30) calendar days from date of actual meeting;
- Audited financial statements to be filed within one hundred twenty (120) days from fiscal year-end or as prescribed by the SEC; and,
- MC 28 registration upon filing of the SEC registration forms or within thirty (30) calendar days from the issuance of SEC Certificate of Registration, license, or authority.
Filing beyond the above timelines is considered as “late filing/submission” and non-submission of such particular SEC reportorial requirement would mean “non-filing” that would both entail fines and penalties under SEC MC 6-2024.
