SEC Allows Courier Submission of 2019 Annual Reports in the Philippines
The Securities and Exchange Commission (SEC), in a press release dated May 25, 2020, has introduced new modes of submission of Annual Report hard copies in compliance with the implemented Coronavirus (COVID-19) prevention measures.
Corporations shall comply with the following modes of submission:
- Mail Submission
- Courier Submission under the SEC Express Nationwide Submission (SENS) facility
DELIVERY OF REPORTS
Reports shall be directed to the SEC Head Office – Ground Floor, Secretariat Building, PICC Complex, Pasay City for delivery by either of the ff.:
- Philippine Postal Corporation (PHLPost)
- Personal choice of courier service
The date indicated in the registry receipt of the courier for mailed reports shall be considered as the official date of submission of the Annual Financial Statements (AFS) and the General Information Sheet (GIS).
PHLPost date of receipt for reports filed via registered mail shall be considered as the reckoning date of AFS and GIS submission.
Note: The date of Acknowledgment Confirmation, sent to filers for reports submitted through email during the Enhanced Community Quarantine (ECQ) period, shall be considered as the date of receipt. This shall also be attached to the hard copies upon submission of the reports.
Under the SEC MC No. 2, Series of 2020, prior to the COVID-19 pandemic, AFS should have been filed from April 20 to May 22 while the GIS shall be due for submission within thirty (30) calendar days from the annual stockholders’ or members’ meeting for stock and nonstock corporations. Similar number of calendar days apply for foreign corporations from the anniversary of issuance of their SEC license.