File Smart: Your Guide to the SEC’s Annual General Information Sheet Requirement

Every corporation operating in the Philippines must file a General Information Sheet (GIS) annually with the Securities and Exchange Commission (SEC). This requirement, under Section 177 of the Revised Corporation Code (R.A. No. 11232), reinforces transparency and accountability by ensuring that regulators and stakeholders have access to accurate, up-to-date corporate information.

What is a General Information Sheet (GIS)?

The GIS is the SEC’s official record of a corporation’s structure and key information for the year. It contains vital data such as:

• Corporate details: name, address, and contact information
• Line of business: primary and secondary purposes
• Capital structure: authorized, subscribed, and paid-up capital
• List of directors, officers, and shareholders
• Corporate Secretary’s certification confirming accuracy and compliance

The GIS must be signed and certified under oath by the Corporate Secretary, making it a formal declaration of the corporation’s truthfulness and compliance.

How to File the GIS

All corporations are now required to file their GIS electronically through the SEC Electronic Filing and Submission Tool (eFAST). This is a platform developed to improve efficiency, data accuracy, and ease of compliance.

To use eFAST, corporations must:

1. Enroll through the SEC website.
2. Designate an Authorized Filer, formally empowered to submit documents on the company’s behalf.
   • Submit a Notarized Board Resolution authorizing the filer; and
   • A Notarized Secretary’s Certificate confirming board approval.

Steps in Filing the GIS:

1. Log in to the eFAST portal.
2. Click Forms, then continue to Submission.
3. Choose Submit New Form and select GIS under “Form Type.”
4. Upload two (2) sets:
   • The scanned notarized GIS; and
   • The PDF version of the GIS.
5. Edit and fill out required fields.
6. Click Submit once complete.
7. Check your MC 28-registered email for initial confirmation.
8. If compliant, you’ll receive a QR code confirmation—your proof of successful SEC submission.

Deadlines and Compliance

The GIS must be filed within 30 days from:

• Stock Corporation: Date of actual stockholders’ meeting
• Non-stock Corporation: Date of annual members’ meeting
• Foreign Corporation: Anniversary of SEC license issuance

Late or incomplete submissions may lead to fines, penalties, or even revocation of a corporation’s Certificate of Registration or License to Transact Business.

Common Filing Mistakes

Many corporations face penalties due to:

• Failing to update the list of officers or shareholders
• Submitting unsigned or improperly notarized documents
• Late filing beyond 30 days
• Using an unauthorized filer or unregistered eFAST account

Avoiding these errors ensures compliance and prevents processing delays or penalties that could affect business operations and transactions.

Why GIS Filing Matters

Filing the GIS is not just an administrative task but a legal duty and a transparency measure. The SEC uses GIS data to monitor corporate integrity, prevent irregularities, and verify compliance. An updated GIS is also a prerequisite for key transactions, such as amendments, permits, or government registrations.

Timely filing strengthens a company’s reputation for regulatory compliance and good governance, signaling reliability to partners, clients, and investors.