Why Annual Reporting Matters
Every year, the Securities and Exchange Commission (SEC) and the Bureau of Internal Revenue (BIR) require businesses to submit financial statements, tax returns, and annual information reports.
Failing to comply can result in:
- Daily fines (SEC)
- Tax assessments or audits (BIR)
- Suspension or revocation of registration
At UNA Tax & Accounting Services, we help businesses across Metro Manila and the Philippines stay fully compliant and audit-ready.
Part 1: SEC Annual Filing Requirements (2025)
General Information Sheet (GIS)
- Who files? All corporations and partnerships
- Deadline: Within 30 calendar days after the Annual Stockholders’ or Members’ Meeting
Audited Financial Statements (AFS)
- Who files? All corporations and partnerships
- Deadline: Within 120 calendar days after fiscal year-end
- Audit Requirement:
- SEC-accredited CPAs required for:
- Publicly listed companies
- Public companies
- Financing/lending firms
- Foundations
- Non-accredited CPAs allowed for:
- Micro and small enterprises without public accountability
- Provided the auditor is BOA-accredited
Important Notes:
- EFAST filing is mandatory under SEC Memorandum Circular No. 1, Series of 2023
- ₱1,000/day late penalty for overdue AFS or GIS
Part 2: BIR Annual Filing Requirements (2025)
| Form / Report | Purpose | Deadline (2025) | Where to File |
| BIR Form 1702-RT/EX/MX | Annual Income Tax Return | 15th day of 4th month after FYE | eBIRForms / eFPS |
| AFS (attached to ITR) | Same as SEC AFS | Same day as ITR | eBIRForms / eFPS |
| 1604-C | Annual return of compensation income | Jan 31, 2025 | eBIRForms / eFPS |
| 1604-F | Annual return of final withholding taxes | Jan 31, 2025 | eBIRForms / eFPS |
| 1604-E | Annual return of expanded withholding taxes | March 1, 2025 (since Feb 28 is Friday) | eBIRForms / eFPS |
| Alphalists | Summary of compensation and payees | Same as 1604 deadlines | Submit digitally |
| Inventory List | For businesses with inventory | Jan 31, 2025 | Email to eSubmission@bir.gov.ph |
Mandatory e-Filing: Required under RR No. 11-2018 and RR No. 19-2020.
Penalties: Up to ₱25,000 + interest + compromise for late filings
People Also Ask (FAQs)
Do I need to file if my company is inactive or has no income?
Yes. File “no operations” reports with both SEC and BIR to avoid penalties.
Is online filing allowed?
- SEC via EFAST
- BIR via eBIRForms or eFPS, depending on your registration
Can I file late?
Yes, but penalties apply. UNA can assist with proper catch-up filings.
How UNA Tax & Accounting Services Helps You Stay Compliant
| Compliance Area | Risk If Missed | UNA’s Support |
| SEC GIS & AFS | ₱1,000/day penalty, registration risks | We handle EFAST filing with CPA support |
| BIR ITR & AFS | Penalties, audit triggers | We prepare and file all forms and attachments |
| 1604s & Alphalists | Withholding discrepancies | We generate reports and submit them digitally |
| Inventory List | Non-compliance tag | We prepare inventory summaries and submit them via email |
| Bookkeeping | Incomplete records, audit issues | We maintain clean, compliant books year-round |
Final Reminder
Annual reporting isn’t just paperwork, it’s part of your legal and tax compliance obligations. Get it wrong, and your business could face delays, fines, or even revocation of registration.
Let UNA handle your SEC and BIR requirements from audits to filings to compliance calendars, so you can focus on running your business.
Book your FREE compliance consultation or Email us at sales@una-acctg.com
