SEC Memorandum Circular No. 7
The Securities and Exchange Commission (SEC) has issued guidelines on the staggered filing of audited financial statements (FS) by companies with fiscal year ending December 31, 2008
The objective is to do away with mass filing of the annual FS on the last day or close to the current single due date. Currently, the audited FS of ordinary corporations shall be filed within 120 calendar days after the end of the fiscal year, as specified in the by-laws.
Under SEC Memorandum Circular No. 7, the following are the deadlines for filers depending on the last numerical digit of their SEC registration number:
......... Filing Dates.................. Last Digits
......... April 20-24, 2009 - ...... 1, 2, and 3
......... April 27-30, 2009 - ...... 4 and 5
......... May 4-8, 2009 - ....... 6, 7, and 8
......... May 11-14, 2009 - ....... 9 and 0
All corporations may file their FS before April 20, 2009 regardless of the last numerical digit of their SEC registration number.
Late filings shall be accepted only starting May 15, 2009. The prescribed penalties for late filings shall be computed from the last day of filing allowed for specific grouping. Filings made before or after the scheduled dates shall not be accepted, unless done before April 20, 2009 or after May 14, 2009.
The financial statements filed shall have the required stamp of the Bureau of Internal Revenue (BIR).
On the other hand, companies whose fiscal year ends on a date other than December 31 shall comply with thier original filing schedule.
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