Mindanaotoday.com | SEC-CDOEO calls corporations to file for Amnesty before September 30 deadline
THE Securities and Exchange Commission – Cagayan de Oro Extension Office (SEC-CDOEO) reminds the public once again to file for the amnesty grant currently being offered by the Commission. The said grant is said to be due on the 30th of September 2023 as provided under the SEC Memorandum Circular No. 9, Series of 2023
The amnesty aims to extend help among corporations (Stock and Non-Stock) with penalties incurred from non-filing, late filing, or violations made in compliance of the reportorial requirements.
Filing of amnesty may be done through the Electronic Filing and Submission Tool (eFAST) accounts of the corporations and check whether they qualify to avail the grant.
The SEC accommodates two kinds of amnesty grantees which are: (1) Non-compliant Corporations or those corporations which are still registered but has non-filing of reports to certain fiscal years; such will be paying P5, 000.00 only as amnesty fee which encompasses all the non-submissions of the Corporation; and (2) those corporations tagged as revoked/suspended are also granted to avail the amnesty but are entitled only to pay 50% of their total assessed fines.
The extension of the deadline is to consider all the other corporations who were not able to comply with the necessary requirements in availing the amnesty grant.
Corporations that are able to submit their correct reportorial requirements, including those reverted for compliance, within the submission period or until the deadline will be considered to have undergone the complete amnesty process and are entitled to receive a Confirmation of Payment. Otherwise, payment of amnesty fees will be forfeited in favor of the SEC.
The initiative is part of the Commission’s efforts to encourage its regulated entities to comply with the reportorial requirements set under Republic Act No. 11232, or the Revised Corporation Code. It is also a means for the SEC to prudently identify active and inactive corporations, enhance and organize the Commission’s digital database, and cultivate a healthy and vibrant corporate sector.
“We urge all qualified corporations to apply for the amnesty in order not to miss this opportunity as the deadline of the application which is on September 30 is already fast approaching” Director Enopia in his closing statement.
Corporations who would like assistance in applying for amnesty may also visit the SEC Cagayan de Oro Extension Office at Tomas-Saco 14 del Lara Street, Macasandig, Cagayan de Oro City. The Office is available for public transactions and assistance from Monday to Friday, 8AM – 5PM or may opt to call the landline numbers: 088-327-0517 or 088-857-7225. (SEC)
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