TARLAC CITY, Tarlac (Oct. 1, 2023) — The Securities and Exchange Commission has extended for a final month the amnesty applications of non-compliant, suspended, or revoked corporations.
The amnesty extension runs until November 6, after which the SEC will implement a new scale of fines and penalties.
Corporations may avail of amnesty by accepting the web-based Expression of Interest form on their SEC Electronic Filing and Submission Tool (eFAST) accounts.
Corporations that have incurred penalties for the late and non-filing of their Annual Financial Statements (AFS), General Information Sheets (GIS), and official contact details will have another month to file their amnesty applications, per SEC Memorandum Circular No. 17, Series of 2023.
Should an applicant fail to submit the complete set of requirements by December 4, the amnesty fee paid, as well as the P3,060 petition fee initially collected from suspended/revoked corporations, shall be forfeited in favor of the SEC.