MANILA – The Securities and Exchange Commission (SEC) has extended the deadlines for the submission of annual reports and/or audited financial statements of companies with fiscal years ending amid the coronavirus disease 2019 (Covid-19) pandemic.
In an en banc meeting through videoconferencing on May 7, the Commission resolved to allow companies with fiscal years ending between Jan. 31, 2020 and Mar. 31, 2020 to submit their annual reports and/or audited financial statements within 60 calendar days from the regular filing deadlines.
For instance, a publicly-listed company or an issuer of registered securities whose fiscal year ended Jan. 31, 2020 may file its annual report and audited financial statements until July 14, or 60 days from the original May 15, 2020 deadline.
Meanwhile, a corporation other than a publicly listed company and an issuer of registered securities with the same fiscal year may submit its audited financial statements until July 29, or 60 days from the original May 30, 2020 deadline.
The SEC also granted companies with fiscal years ending April 30 an extension of 45 calendar days from the regular filing deadline.
A publicly-listed company or an issuer of registered securities will have until September 27 to comply with the reportorial requirement. All other corporations may submit their audited financial statements until Oct. 12, 2020.
The Commission also extended the deadline for the submission of quarterly reports for the first quarter of the covered companies for a period of 45 calendar days from the regular filing deadlines.
The extension provided under SEC Memorandum Circular No. 17, Series of 2020 shall automatically apply without the need for requests from covered companies, which include publicly listed companies and other issuers of registered securities.
However, publicly-listed companies and other issuers of registered securities under the supervision of the SEC Markets and Securities Regulation Department shall file the special disclosure form, SEC Form 17-LC, at least five calendar days before the regular filing deadline. (PR)
