In an effort to adapt to the online migration of processes, the urgency of which was highlighted by the COVID-19 pandemic, the Securities and Exchange Commission (SEC) introduced the SEC Online Submission Tool (SEC OST) through SEC Memorandum Circular No. 3 series of 2021 last March 9, 2021.
The SEC OST may be accessed through this URL: https://cifss-ost.sec.gov.ph/
To learn how to enroll an account on the SEC OST, please refer to this article.
1. Who are required to submit their reportorial requirements through the SEC OST?
Starting March 15, 2021, all entities regulated by the SEC must submit all their reportorial requirements through the SEC OST.
2. Will the SEC still receive manual, email, or snail mail submissions?
No. The SEC shall no longer receive hard copy submissions of reports and submissions through e-mail, mail, courier and other similar channels.
However, OST Kiosks will be set up in SEC offices and will be available from March 15, 2021 to December 15, 2021 to assist companies and filers who cannot enroll or upload their reports on the SEC OST. OST Kiosks may accept over-the-counter submissions of reports provided that the company or filer presents proof that problems have been encountered during the enrollment or submission process. A screenshot of the error will suffice. Over-the-counter submissions may be done by booking an appointment online through https://sesas.secexpress.ph/.
3. What reportorial requirements are required to be submitted through the SEC OST?
The following reportorial requirements are required to be submitted through the SEC OST:
1) Audited Financial Statements (AFS)
a. Duly stamped received by the Bureau of Internal Revenue (BIR) or proof of filing with the BIR attached to the AFS
b. Duly signed Auditor’s Report
c. Statement of Management’s Responsibility duly signed by authorized signatories
d. Compliant with all Audited Financial Statements requirements stated in the checklist available on the SEC website
2) General Information Sheets (GIS)
3) Sworn Statement for Foundation (SSF)
4) General Form for Financial Statements (GFFS)
5) Special Form for Financial Statements (SFFS) (including forms for lending and financing companies)
6) Affidavit of Non-Operation (ANO), to be filed with the GIS or AFS. Filer may submit a GIS or AFS without any change
7) Affidavit of Non-Holding of Annual Meeting (ANHAM), to be filed with the GIS. Similarly, the company/filer may submit a GIS without any change (No Meeting Held)
4. Is there any file format required for the documents to be uploaded on the SEC OST?
Depending on the report to be filed, the OST will prompt the filer whether the file should be in Portable Document Format (PDF), Microsoft Excel or other formats.
Please take note of the new template forms for GIS and NUF.
5. Is there a deadline for enrollment on the SEC OST?
All existing stock corporations have until December 15, 2021 to enroll in the SEC OST. Non-stock corporations may opt not to submit their reports through the SEC OST this year. However, all corporations must comply with the guidelines of SEC MC 3-2021 and submit their reports through the SEC OST by 2022.
6. Is there any change in the deadlines for submission of the reportorial requirements?
1) GIS must be submitted within (90) days after the Annual Stockholder’s Meeting or Annual Members’ Meeting of the Directors, Trustees and Officers of the corporation.
2) All stock corporations with fiscal years ending in December 31, must file their respective AFS though the SEC OST depending on the last numerical digit of their registration or license number according to the following schedule:
For corporations whose fiscal year ends on a date other than December 31, they shall file their AFS within 120 calendar days from the end of their respective fiscal year.
7. On what date are the reportorial requirements considered received by the SEC?
The reckoning date of receipt of reports shall be the date the report was initially submitted to the SEC OST, provided that the filed report is compliant with existing requirements.
8. Is the SEC OST accessible only at certain times?
The SEC OST is open 24/7. However, submissions shall only be accepted from Mondays to Fridays, except during holidays. Reports submitted on a non-working day shall be considered filed on the next working day.
For inquiries, concerned parties may contact the following:
