Regulatory Alerts2026-01-06
Circular No. 1228: Amendments to the N-Regulations on Annual Supervision Fees for Non-Bank Financial Institutions with Trust Authority
The Bangko Sentral ng Pilipinas issued Circular No. 1228 to amend the Manual of Regulations for Non-Bank Financial Institutions regarding annual supervision fees for entities with trust authority. The regulation mandates that these institutions pay a fee equivalent to one twenty-eighth of one percent of their average assessable assets, payable annually by May 31. It further establishes billing procedures, tax exemption from withholding, and administrative sanctions for non-compliance or violations of trust regulations.
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