Regulatory Alerts2021-04-11
MC No. 05 s. 2021 — Extension of the Deadline for the Submission of 2020 Annual Reports
The Securities and Exchange Commission extended the deadline for publicly-listed companies to submit their 2020 Annual Reports from April 15, 2021, to May 17, 2021, citing challenges caused by the reimposition of Enhanced Community Quarantine. This administrative order applies to all publicly-listed companies, issuers of registered securities, and public companies. The new deadline remains subject to automatic adjustment if the Bureau of Internal Revenue moves its own filing deadline to a date later than May 17, 2021.
SEC MEMORANDUM CIRCULAR NO. ____ SERIES OF 2021 TO : All Publicly-Listed Companies, Issuer of Registered Securities, and Public Companies SUBJECT : Extension of the Deadline for the Submission of 2020 Annual Reports for the Calendar Year Ended December 31, 2020 The Commission en Banc, in its April 6, 2021 meeting, recognized the challenges in the preparation and finalization of the audited financial statements (“AFS”) and the completion of statutory audits brought about by the reimposition of the Enhanced Community Quarantine1 in some major parts of the country, has ordered the extension of the deadline for submission of the 2020 Annual Reports for calendar year ended December 31, 2020, from April 15, 2021 to May 17, 2021. This extended deadline is without prejudice to the schedule on the filing of AFS as may be required by the Bureau of Internal Revenue2 (BIR). It shall automatically conform with the BIR should the latter move its own deadline to a date later than May 17, 2021. Pasay City, Philippines, ____ April 2021. For the Commission: EMILIO B. AQUINO Chairperson
1 from March 29 to April 11, 2021 2 As per Revenue Memorandum Circular No. 46-2021, dated 6 April 2021, deadline for filing Annual Income Tax Return, for taxable year ending December 31, 2020, is on April 15, 2021 5 8