Every corporation registered with the Securities and Exchange Commission (SEC) in the Philippines must comply with several reportorial requirements to stay in good standing. Among these, the annual information sheet SEC—also known as the General Information Sheet (GIS)—is a key document that provides a snapshot of your corporation’s current status. Understanding its importance, content, and filing process is essential for every business owner and corporate officer.
What Is the Annual Information Sheet SEC?
The annual information sheet SEC is an annual reportorial requirement mandated by the Revised Corporation Code of the Philippines (Republic Act No. 11232). It must be filed by all stock and non-stock corporations registered with the SEC.
The GIS contains updated information about the corporation’s:
- Board of directors or trustees
- Officers and key personnel
- Principal office address
- Capital structure
- Stockholders or members
- Other relevant corporate details
Filing the GIS ensures transparency and allows the SEC to monitor corporate governance, protect investors, and maintain a fair business environment.
General Information Sheet Contents: What to Include
The general information sheet contents cover critical corporate data such as:
- Corporate name and SEC registration number
- Date of the annual stockholders’ or members’ meeting
- List of directors, trustees, and officers with their positions and addresses
- Stock ownership details, including number of shares held by each shareholder
- Principal office address and contact information
- Amendments to the articles of incorporation or bylaws, if any
Filling out these details accurately is crucial to avoid penalties or delays in processing.
How to Get General Information Sheet from SEC
You can obtain the official GIS form from the SEC website or through the SEC’s Electronic Filing and Submission Tool (eFAST). The SEC has streamlined the filing process through eFAST, allowing corporations to submit their GIS online, ensuring faster processing and compliance.
Deadline of Filing of AFS to SEC and GIS Filing
The deadline of filing of AFS to SEC (Annual Financial Statements) is generally within 120 calendar days after the fiscal year-end. Meanwhile, the general information sheet filing must be done within 30 calendar days from the date of the actual annual stockholders’ meeting for stock corporations, or from the date of the annual members’ meeting for non-stock corporations.
Missing these deadlines can result in penalties ranging from PHP 1,000 to PHP 10,000 per report and may place the corporation under delinquent status.
General Information Sheet Non Stock vs. Stock Corporations
Both stock and non-stock corporations must file a GIS, but the deadline differs slightly:
- Stock corporations file within 30 days after their annual stockholders’ meeting.
- Non-stock corporations file within 30 days after their annual members’ meeting.
The general information sheet non stock form is similar but tailored to reflect the membership structure instead of stockholders.
General Information Sheet SEC Sample and Filing Tips
A general information sheet SEC sample typically includes:
- Cover page with corporate details
- List of directors and officers
- Stockholders or members list
- Certification by the corporate secretary
For smooth filing, ensure all information is up-to-date, consistent with your corporate records, and signed by the corporate secretary.
Why Is Annual GIS Filing Important?
- It fulfills a mandatory regulatory requirement under the Revised Corporation Code.
- Helps the SEC maintain accurate and current corporate records.
- Protects your corporation from penalties or suspension of corporate privileges.
- Demonstrates corporate transparency to investors, partners, and regulators.
Final Thoughts
Filing the annual information sheet SEC is a straightforward but critical task for every corporation in the Philippines. Staying on top of your general information sheet filing helps maintain your company’s good standing and avoids unnecessary fines.
To learn more about the filing process, deadlines, and compliance tips, visit this detailed guide on annual information sheet SEC.
Remember, compliance isn’t just about avoiding penalties—it’s about building trust and credibility for your business!