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Newsletter Issue No. 03 February, 2022



To: All Concerned Corporations

The Commission, to undertake appropriate measures to combat the Covid 19 (Omicron Virus) threat to its personnel and the transacting public, proceeded to adopt the use of the Electronic Filing and Submission Tool (eFAST) and adopted the following changes and new requirements in filing of annual financial statements, general information sheet and other reports:

    DECEMBER 31, 2021:
  2. All corporations, including branch offices, representative offices, regional headquarters and regional operating headquarters of foreign corporations, shall file their AFS depending on the last numerical digit of their SEC registration or license number in accordance with the following schedule through the eFAST:

July 1 – 15

1 and 2

July 16 – 31

3 and 4

August 1 – 15

5 and 6

August 16 – 31

7 and 8

September 1 – 15

9 and 10

All Extension Offices shall be governed also by the above coding schedule in 2022.

However, any corporation may file on or before its respective filing dates also through eFAST.

  1. The above filing schedule shall not apply to the following corporations:
    1. Those whose fiscal year ends on a date other than December 31, 2021.
    2. Those whose securities are listed on the Philippine Stock Exchange (PSE) and those which are covered under Section 17.2 of the SRC, except those companies which filed Notification of Suspension to file reports under Section 17 of the SRC (SEC Form 17-EX).
    3. Those whose AFS are being audited by the Commission on Audit (COA).
  1. All corporations may file their AFS regardless of the last numerical digit of their registration or license number on or before the first day, as stated in the coding schedule in paragraph 1 pertaining to said digit;
  2. Late filings or filing after respective due dates shall be accepted starting September 16, 2022, and shall be subject to the prescribed penalties which shall be computed from the date of the last day of filing schedule stated in paragraph 1;



  2. All corporations shall file their GIS within 30 calendar days from:
    1. Stock Corporations – date of actual annual stockholders’ meeting
    2. Non-Stock Corporation – date of actual annual members meeting
    3. Foreign Corporations – anniversary date of the issuance of the SEC License

All corporations (stock or non-stock) are required to file their annual reportorial requirements
(AFS and GIS) through eFAST by applying the SEC issued number coding schedule for AFS. Other reports not available in the eFAST may be submitted by sending through email at

All filers of GIS and AFS, regardless of the number of reports to be filed at the SEC, complying with the circularized SEC-issued number coding schedule (for AFS only), shall be accommodated through the eFAST Facility.

Submission of reports Over-the-Counter (OTC) and/or through mail/courier via SENS shall no longer be accepted.

All reports submitted through eFAST are scanned or digital copies of the manually signed or digitally signed reports. The responsibility to ensure the integrity and authenticity of the e- signature rests upon the signatory or authorized signatory of the filer. All electronic transactions referred to in this memorandum shall be governed by the existing and prevailing laws and regulations, as applicable.

Any problem encountered in the enrollment and submission of AFS and GIS in the eFAST (OST) shall be accommodated through the email and telephone numbers posted in the SEC Contact Center using the link

All other circulars, memoranda and implementing rules and regulations that may be inconsistent with the foregoing provisions shall be deemed modified or amended accordingly.

This Memorandum Circular shall take effect immediately.

MC No. 02 - 2022:


This Newsletter is the official publication of R.S. Bernaldo & Associates to

keep the Firm’s professional staff informed of the issues affecting the

practice. The information contained herein is of a general nature and is

not intended to address the circumstances of any particular individual or

entity. Although we endeavour to provide accurate and timely information,

there can be no guarantee that such information is accurate as of the date

it is received or that it will continue to be accurate in the future. No one

should act on such information without appropriate professional advice

after a  thorough examination of the particular situation.


The Firm cannot be held liable for any losses suffered as a result of

reliance upon information contained in this memo.


This is a property of R.S. Bernaldo & Associates. Reproduction of any

material included in the memo should be subject to the approval of the

Editorial Board.


R.S. Bernaldo & Associates is a member firm of the PKF International

Limited family of legally independent firms   and does not accept any

responsibility or liability for the actions or inactions of any individual

member or correspondent firm or firms.


Comments and suggestions are welcome.



Editorial Board

Anthony D. Paño

Partner/Head of QAU

Mary Rose A. Lorilla

Assistant Quality Assurance Manager/

Quality Assurance Leader

Charmaine S. de Guzman

Senior Auditor/ Assistant Quality Assurance Leader

Baby Joy A. Bautista

Quality Assurance Associate/ Engagement Quality Control
Review Leader

Sandae E. Dela Torre

Quality Assurance Associate/

Ethics Leader

Janna J. Pacis

Quality Assurance Associate/

Learning and Training Leader

 §  Yves Michael O. Anadon

Quality Assurance Associate/

Technical Consultation Leader



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