THE Securities and Exchange Commission (SEC) has scheduled submission dates for the audited financial statements (AFS) and general information sheet (GIS) stock and nonstock corporations through its online portal, Electronic Filing and Submission Tool (eFAST).

“Starting this year, all stock and nonstock corporations are required to submit their annual reports online through eFAST, previously called the Online Submission Tool, at,” the commission said in a statement on Wednesday.

Last year, only stock corporations were required to submit their reports online through the eFAST, while nonstock firms were allowed to submit hard copies.

The SEC said it will no longer require hard copies of the reports and will no longer process submissions via e-mail and in-person. Reports submitted over the counter and through mail or courier services will also not be accepted.

Corporations and their authorized filers may enroll on eFAST until March 31, 2022.

“All reports submitted through eFAST must be scanned or digital copies of the manually signed or digitally signed reports,” the SEC said.

“The signatory or authorized signatory of the filer holds the responsibility to ensure the integrity and authenticity of the e-signature in the documents,” it added.

On Feb. 8, the regulator issued SEC Memorandum Circular No. 2 Series of 2022, which details the schedules for the filing of AFS and GIS this year. The SEC said its extension offices will also implement the same schedule.

GIS documents must be filed within 30 calendar days from the date of a stock corporation’s actual annual stockholders’ meeting, from the date of the actual annual members meeting of nonstock corporations, and from the anniversary date of foreign corporations’ SEC license issuance.

Meanwhile, all corporations are called to submit their AFS by batches based on the last digit of their SEC registration number.

Corporations with registration numbers ending with 1 and 2 should file their AFS within July 1 to 15; with 3 and 4 from July 16 to 31; those ending with 5 and 6 from Aug. 1 to 15; with 7 and 8 from Aug. 16 to 31; those with 9 and 0 must submit forms within Sept. 1 to 15. Reports may be submitted on or before the filing dates.

The schedule also applies to a broker-dealer with a fiscal year ending Dec. 31, 2022. Meanwhile, those with fiscal years ending other than Dec. 31 must be filed 110 days after it ends its fiscal year.

Corporations with fiscal years ending on other dates aside from Dec. 31, 2021 are told to file their reports within 120 calendar days from the end of their respective fiscal years.

Meanwhile, corporations with securities listed on the Philippine Stock Exchange and are covered under the Securities Regulation Code (SRC) are required to submit their AFS with their annual reports within 105 days after their fiscal year ends.

“However, such entities will also be given an extension of until May 15, 2022 to file their annual reports due to current circumstances,” the regulator said.

Corporations that are audited by the Commission on Audit (CoA) will be exempted from the schedule as long as they provide to their AFS a signed affidavit affirming that they “timely provided” their financial statements and supporting documents and that the CoA audit has just concluded on top of a letter from CoA.

“The Commission will accept late filings starting Sept. 16, 2022. Corporations, which submitted their reports late, will be subject to the prescribed penalties computed from the last date of the aforementioned filing schedule,” the SEC said.

Those who fail to comply with the formal requirements detailed under Revised SRC Rule 68 may face penalties.

“The acceptance and receipt by the Commission of the financial statements shall be without prejudice to such penalties,” the SEC said. — Keren Concepcion G. Valmonte