Corporations may start using the online submission tool (OST) to submit their annual financial statements (AFS), General Information Sheet (GIS), and other covered reports to the Securities and Exchange Commission (SEC) starting today, March 15.
Before they can submit reports through the OST, corporations and their authorized filers are required to enroll in the system by accomplishing the online application form and uploading the required documents at https://cifss-ost.sec.gov.ph.
The documents required for enrollment include a board resolution authorizing its representative to file reports on behalf of the corporation, as well as a copy of their submission of email addresses and cellular phone numbers or their accomplished GIS using the 2020 version of the form, as required by SEC Memorandum Circular No. 28, Series of 2020.
All stock corporations, including the branch offices, representative offices, regional headquarters, and regional operating headquarters of foreign corporations, will be required to submit their reports using the OST starting this year.
Meanwhile, nonstock corporations will still have the option to submit their reports over the counter. By 2022, the Commission will require all nonstock corporations to enroll in and submit their reports through the OST.
Law, consultancy and other firms providing related services to corporations may also enroll as authorized filers.
The authorized filer of a corporation may start submitting reports through the OST at https://cifss-ost.sec.gov.ph once they have successfully enrolled. The SEC will no longer require hard copies of the reports submitted through the portal.
Corporations may use the OST for the filing of their AFS, GIS, Sworn Statement for Foundation (SSF), General Form for Financial Statements (GFFS), and Special Form for Financial Statements (SFFS) during the initial implementation.
The OST will likewise accept submissions of Affidavit of Non-Operation (ANO), together with the GIS or AFS, and Affidavit of Non-Holding of Annual Meeting (ANHAM), together with the GIS.
READ Memorandum Circular No. 3, Series of 2021, or the Schedule and Procedure for the Filing of Annual Financial Statements, General Information Sheet and Other Covered Reports, for more information: https://www.sec.gov.ph/mc-2021/mc-no-03-s-2021/