Filing Schedule for Corporations with Different Fiscal Year-End
- Corporations with fiscal year-end dates other than December 31, 2010, are required to comply with their original filing schedules and not the new schedule based on registration digits.
Early Filing Provision
- Corporations may file their financial statements anytime prior to April 18, 2011, regardless of their registration number schedule.
Late Filing and Penalties
- Late filings will be accepted starting May 23, 2011.
- Penalties for late filing will be computed from the last day of the scheduled filing period corresponding to the registrant's SEC number.
Restrictions on Filing Outside Scheduled Dates
- Filing before or after scheduled dates will not be accepted unless the filing qualifies under the early filing provision or late filing provision.
Non-Acceptance of Extension Requests
- Requests for extension of time to file or notifications of inability to file SEC Form 17-A under relevant rules will not be accepted.
Continuation of Existing Rules and Exceptions
- All existing rules on preparation and submission of financial statements remain effective, including proof of BIR filing and auditor registration.
- The existing filing deadline for listed companies at the Philippine Stock Exchange remains 105 days after fiscal year-end and is unchanged.
Compliance, Review, and Penalties for Deficiencies
- Financial statements meeting basic acceptance criteria will be received but are subject to SEC review for form and content.
- Deficiencies or deviations from accounting or auditing standards discovered during review may subject the company, its officers, and auditors to penalties under SRC Rule 68 and other applicable regulations.
Legal Amendments and Publication
- All prior circulars, memoranda, and implementing rules inconsistent with these provisions are considered amended accordingly.
- This memorandum circular is required to be published in two newspapers of general circulation.