You can now submit reports to the SEC online - Android

This will allow corporations and authorized filers to submit their annual reports digitally without physically going to SEC offices. Such entities can now enroll in the online submission tool.

As per SEC chairperson Emilio Aquino, the use of OST will also help stakeholders embrace digital-based transactions. This new feature is part of the SEC’s ongoing digital transformation that would help them achieve “ease-of-doing-business and sustainability goals”.

To use SEC’s OST, a corporation and its authorized filter must enroll in the service by completing an online form and submitting all the required documents.

Once the enrollment is complete, the authorized filer can now submit reports for the corporation. Such reports can be annual financial statements (AFS), general information sheet (GIS), general form for financial statements (GFFS), sworn statement for foundation (SSF), and special form for financial statements (SFFS).

During its initial rollout, the portal can also accept submissions of affidavit of non-operation (ANO), along with the AFS or GIS, and affidavit of non-holding of annual meeting (ANHAM), together with GIS.

Beginning this year, all stock corporations, representative offices, branch offices, regional headquarters, and regional operating headquarters of foreign corporations will be required to submit their reports via the OST.

Meanwhile, non-stock corporations are given the option to submit theirs over the counter until 2022.

Consultancy, law, and other related firms that work with corporations can also be authorized filers and enroll in the OST.

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SEC’s offices outside NCR can accept reports over the counter if the filer experiences online enrollment or submission problems.

To make it easier for filers to enroll, SEC will put up OST kiosks in its offices to assist. The kiosks will be available in designated areas until December 15, 2021.

The reports will then be made public through the online submission portal once reports are submitted.

Via: NewsBytes

This article, You can now submit reports to the SEC online, was originally published at NoypiGeeks | Philippines Technology News, Reviews and How to's.