Decoding the Essentials: Your Ultimate Guide to the SEC’s General Information Sheet
General Information Sheet
The Securities and Exchange Commission (“SEC”) is the regulatory government agency tasked, among others, to register corporations and monitor their compliance with the laws, rules, and regulations. As such, it requires submitting specific reports listed at the back portion of the Certificate of Incorporation. One of these reports that a corporation needs to submit annually or as often as there is a need to report with the SEC is the General Information Sheet (“GIS”). The GIS contains the basic information such as:
- The name of the Corporation;
- The SEC Registration Number;
- Address and Contact Details;
- Names and Nationalities of the Directors and Officers of the Corporation;
- The list of stockholders and their respective shareholdings;
- The Beneficial Ownership Declaration showing the beneficial owners of the shares standing under the name of the nominee shareholders, if any.
The corporate secretary signs the GIS; a notary public should notarize it before submission to the Electronic Filing and Submission Tool (EFAST). It is submitted annually within thirty (30) days from the annual meeting date as stated in the corporation’s by-laws or when entries need to be changed therein.
The General Information Sheet is required to be submitted by the following business entities:
- Stock Corporations;
- Non-Stock Corporations;
- Branch Offices;
- Representative Offices;
- Regional Headquarters (RHQ);
- Regional Operating Headquarters (ROHQ).
The latest version is available for download through the SEC’s website.
With the advent of technology fueled by the desire of the SEC to comply with the Ease of Doing Business Act, it has implemented an efficient and reliable way to comply with these reportorial requirements. Thus, the GIS, together with the Annual Audited Financial Statement, are now required to be submitted through the Electronic Filing and Submission Tool (EFAST).
Electronic Filing and Submission Tool (EFAST)
The Electronic Filing and Submission Tool is a web-based application developed by the SEC where the company can conveniently submit its reportorial requirements, such as the GIS and AFS. To create an account, the company must comply with the SEC Memorandum Circular 28 series of 2020, requiring corporations to report their official and alternate email addresses and phone numbers to the Commission.
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This article is for general information only and does not constitute professional advice. Therefore, the reader holds Morfe, Ceneta & Co., CPAs, including its partners, officers and employees free and harmless from any liability arising from one’s reliance on this article.