Legal Blog2013 Corporate Compliance and Reportorial Duties

February 11, 20130
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The Securities and Exchange Commission (SEC) has issued a memorandum as early September 2012 to remind all corporations, including branch offices, representative offices, regional headquarters and regional operating headquarters of foreign corporations to file their Audited Financial Statements (AFS) at the following schedule depending on the last numerical digit of your SEC registration or license number, to wit:

April 15, 16, 17, 18, 19 : “1”, “2”
April 22, 23, 24, 25, 26 : “3”, “4”
April 29, 30, May 2 and 3 : “5”, “6”
May 6, 7, 8, 9, 10 : “7”, “8”
May 14, 15, 16, 17 : “9”, “0”

Please note that SEC requires a BIR stamped received AFS filed within the afore-stated schedules.

Also, domestic and foreign corporations are required to file their General Information Sheet annually, which should contain basic information of the company, among others, the company officers, directors and stockholders, including their shareholdings. All GIS shall be filed within 30 days after the actual annual stockholders/membership meeting of the company. If no meeting was held, it has to be within 30 days from the annual stockholders/membership meeting as per the By-laws.

Branch or Representative Offices, including regional operating headquarters or regional headquarters, must file their respective GIS within 30 days from the anniversary date of the issuance of their license.

For detailed information on your company’s reportorial and corporate compliance duties, please contact Triple I Consulting Inc.

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