2013 SEC Schedule of Filing of Annual Financial Statements (AFS)

The schedule for filing of Annual Financial Statements (AFS) in 2013 to the Securities and Exchange Commission (SEC) with year ending December 31, 2012, set forth in SEC Memorandum Circular No. 7, Series of 2012, was released dated September 7, 2012.  Following are the contents of the memorandum circular:

1. All corporations (including branch offices, representative offices, regional headquarters and regional operating headquarters of foreign corporations) that file their AFS at the SEC Head Office in Mandaluyong City, Davao, Cebu, Iloilo and Baguio Extension Offices shall, depending on the last numerical digit of their SEC Registration or license number, be governed by the following schedule in the filing period for 2013:

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

2. The above filing schedule shall not apply to the following corporations:

(a) Those whose fiscal year ends on a date other than December 31, 2012. These entities shall file their AFS within
120 calendar days from the end of their fiscal year;

(b) Those whose securities are listed on the Philippine Stock Exchange. These entities shall continue to observe the
due date of filing of their AFS as attachment to their Annual Reports (SEC Form 17-A), in accordance with the
Implementing Rules and Regulations of the Securities Regulation Code.

3. Before April 15, 2013, all corporations may file their AFS regardless of the last numerical digit of their SEC registration or license number.

4. Late filings shall be accepted by the SEC starting May 20, 2013 and shall be subject to the prescribed penalties which shall be computed from the date of the last day of the filing schedule shown in (1) above.

5. Any filing of AFS made before or after the scheduled dates shall not be accepted unless covered by paragraphs 2, 3 and 4 above.

6. The AFS, other than the consolidated financial statements, shall have the stamped “received” by the Bureau of Internal Revenue (BIR) or its authorized banks, unless the BIR allows an alternative proof of submission for its authorized banks (e.g., bank slips);

7. The basic components as prescribed under SRC Rule 68, as amended, shall be presented for pre-screening. Failure to comply with any of the formal requirements under said Rule including the prescribed qualifications for independent auditors shall be considered a sufficient ground for the denial of the receipt of the financial statements. The acceptance and receipt by the SEC of the financial statements shall be without prejudice to the fines that may be imposed for any material deficiency or misstatement that may be found upon evaluation of the specific contents thereof.

To avoid penalties and other administrative fees/charges, ensure to timely submit your AFS timely and in accordance with the requirements of the applicable financial reporting framework and applicable local regulatory requirements.

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