CAGAYAN DE ORO CITY (PIA)--The Securities and Exchange Commission (SEC)-Cagayan de Oro Extension Office reminds the public to file for the amnesty grant as the application is due in 30 days.
The SEC has earlier issued Memorandum Circular No. 06, Series of 2023, amending the deadline for the submission of amnesty from April 30 to June 30, 2023.
Corporations who would like to avail of the said amnesty grant will have to check their status to see if they are eligible or not by visiting amnesty.sec.gov.ph. If tagged as non-compliant, the corporation may then file for the amnesty grant.
In filing the amnesty, the non-compliant corporation will be paying P5,000 only; encompassing all the violations covered in the memorandum circular. However, in the case of those corporations with revoked or suspended status, such entities shall pay 50% of the total assessed fees.
The corporation will have to first submit the Expression of Interest (EOI) form indicating their interest in availing of the grant, which shall be submitted using their Electronic Filing and Submission Tool (eFAST) account.
"We are encouraging all corporations to file now for their amnesty grant. This is a rare opportunity offered by the Commission—allowing the non-compliant corporations to pay lesser penalties for all of the years in which they have not complied with the required reports," says Lawyer Frederick A. Enopia, Director of SEC-CDOEO.
The following are the covered violations in filing for amnesty: (a) non-filing of the General Information Sheet (GIS) for the latest and prior years; (b) late filing of GIS for the latest and prior years; (c) non-filing of the Audited Financial Statement (AFS) including fines for its attachments; (d) late filing of AFS including fines for its attachments; and (e) filing of Memorandum Circular No. 28 series of 2020, which should have a penalty of P10,000.
Corporations are requested to submit their latest GIS and FS, including amendments if there are any, and the EOI Form by uploading them to the eFAST portal. Proof of MC28 compliance will also be required as one of the requirements for the amnesty application.
The payment of the P5,000 petition fee will be settled through the Electronic System for Payment to SEC (eSPAYSEC) through the Payment Assessment Form (PAF), which shall be issued through the EFAST portal. The eSPAYSEC will then provide the electronic official receipt as proof of the corporation’s payment.