General Information Sheet – A Mandatory Compliance with the SEC

August 18, 2014

In the Philippines, the General Information Sheet (GIS) is a vital document for all Securities and Exchange Commission (SEC)-registered entities, ensuring transparency and regulatory adherence under the Revised Corporation Code. This annual filing, mandated for corporations, partnerships, and other organizations, captures essential details about corporate structure, officers, stockholders, and beneficial ownership, serving as a cornerstone of governance. As businesses navigate the complexities of compliance in 2025, the GIS remains a key obligation, with strict deadlines and penalties for non-compliance. This article outlines the purpose, requirements, filing process, and consequences of the GIS, offering a comprehensive guide for Philippine companies striving to maintain good standing with the SEC.

What Is the General Information Sheet and Its Purpose?

The General Information Sheet (GIS) is a mandatory annual submission required by the SEC to keep corporate records current and accessible. Below are key points defining its role and purpose:

Core Definition: The GIS is a standardized form that captures a company’s corporate details, including its name, SEC registration number, principal office address, directors, officers, and stockholders.
Transparency Objective: It ensures stakeholders, investors, and regulators have accurate information about a company’s structure and ownership, fostering accountability.
Regulatory Compliance: Filing the GIS aligns with the Revised Corporation Code (Republic Act No. 11232), supporting SEC oversight of registered entities.
Beneficial Ownership Reporting: The GIS includes details on beneficial owners, aiding compliance with the Anti-Money Laundering Act (AMLA) and preventing illicit activities.
Public Access: Submitted GIS forms are publicly available, enhancing trust and enabling due diligence by business partners or creditors.
Annual Obligation: All SEC-registered entities, including domestic and foreign corporations, must file the GIS annually to maintain active status.

The GIS serves as a critical tool for governance, ensuring companies operate transparently while meeting legal obligations.

Who Must File the General Information Sheet?

The GIS requirement applies to various SEC-registered entities in the Philippines. Below are the key categories and specifics:

Domestic Corporations: All stock and non-stock corporations registered with the SEC must submit the GIS annually.
Foreign Corporations: Branch offices, representative offices, and regional headquarters of foreign companies must file the GIS.
Partnerships: SEC-registered partnerships, including general and limited partnerships, are required to comply.
Other Entities: Foundations, associations, and other SEC-registered organizations must also submit the GIS.
Exemptions: Only entities explicitly exempted by SEC regulations, such as certain government-owned corporations, are excluded.
Newly Registered Entities: Companies registered within the year must file their initial GIS within 30 days from incorporation or licensing.

Understanding these categories ensures businesses recognize their obligation to file and avoid penalties for oversight.

When and How to File the General Information Sheet?

Timely and accurate filing of the GIS is essential to avoid penalties. Below are the deadlines and filing process details:

Domestic Corporations Deadline: Must file within 30 calendar days from the annual stockholders’ meeting, typically between January and May.
Foreign Corporations Deadline: Must submit within 30 days of their SEC license issuance anniversary.
Alternative Deadline: If no stockholders’ meeting occurs, the GIS is due by January 30 of the following year.
eFAST Platform: Since 2024, all GIS submissions must be made through the SEC Electronic Filing and Submission Tool (eFAST), requiring online enrollment.
Required Documents: Companies must prepare updated corporate records, including board resolutions, stockholder lists, and beneficial ownership details, for eFAST upload.
Verification Process: The SEC reviews submissions for accuracy, and incomplete or incorrect GIS forms may be rejected, delaying compliance.

Adhering to these deadlines and mastering the eFAST system is vital for seamless compliance.

What Information Must Be Included in the General Information Sheet?

The GIS requires comprehensive and accurate data to meet SEC standards. Below are the key components:

Corporate Details: Includes the company’s full name, SEC registration number, taxpayer identification number, and principal office address.
Capital Structure: Details authorized, subscribed, and paid-up capital, including shares issued and outstanding.
Directors and Officers: This section lists the names, nationalities, positions, and contact details of board members and corporate officers.
Stockholders: Provides information on up to 20 shareholders, including their shareholdings and nationalities.
Beneficial Ownership: Identifies ultimate beneficial owners to comply with AMLA requirements, including Customer Due Diligence (CDD) and Know Your Customer (KYC) details.
AMLA Compliance: Includes certifications on anti-money laundering policies and record-keeping practices.

Ensuring all required information is complete and accurate prevents delays or penalties during SEC review.

Why Seek Triple i Consulting for General Information Sheet Compliance?

Navigating GIS compliance can be daunting due to its complexity and regulatory demands. Below are reasons to engage Triple i Consulting:

Expert Guidance: Triple i Consulting specializes in SEC compliance and ensures accurate and timely GIS filings.
Complex Process: The eFAST system, beneficial ownership reporting, and AMLA requirements make GIS submission intricate, necessitating professional expertise.
Tailored Solutions: Triple i offers customized services for domestic and foreign corporations, addressing unique compliance challenges.
Penalty Avoidance: Their meticulous approach minimizes errors that could lead to fines or delinquent status, protecting your business.
ISO Certification: Triple i is an ISO 9001:2008-certified firm that guarantees high-quality service in corporate governance and regulatory compliance.
Comprehensive Support: Beyond GIS, Triple i assists with audited financial statements, tax compliance, and other SEC requirements, streamlining operations.

Given the complicated nature of GIS filing, Triple i Consulting’s expertise is invaluable for businesses seeking compliance with confidence.

What Happens If You Fail to File the General Information Sheet?

Non-compliance with GIS filing carries significant consequences. Below are the risks and penalties:

Monetary Fines: According to SEC guidelines, late filings incur a minimum penalty of PHP 5,000, with higher fines for repeated delays.
Delinquent Status: Three non-filings within five years may result in the SEC declaring the company delinquent, restricting operations.
License Suspension: Prolonged non-compliance risks suspension of SEC registration, halting business activities.
Revocation Risk: In severe cases, the SEC may revoke the company’s license, leading to dissolution or loss of legal status.
Reputational Damage: Non-compliance signals poor governance, eroding trust among investors, creditors, and partners.
Legal Liabilities: Directors and officers may face personal liability for failing to ensure timely GIS submission.

Prompt and accurate GIS filing is essential to safeguard your company’s standing and avoid these costly repercussions.

Final Thoughts

The General Information Sheet remains a cornerstone of SEC compliance in the Philippines, ensuring transparency, governance, and accountability for all registered entities. By adhering to filing deadlines, mastering the eFAST platform, and providing accurate corporate details, businesses can maintain good standing and avoid penalties. The complexity of the process, from beneficial ownership reporting to AMLA compliance, underscores the need for professional guidance. Triple i Consulting stands ready to assist companies in navigating these requirements, offering expertise to streamline compliance and protect operational continuity.

Is Assistance Available?

Yes, Triple i Consulting can help by providing tailored solutions to simplify this intricate process. Contact us today to schedule an initial consultation with one of our experts: