How to File the General Information Sheet (GIS) with the SEC

The General Information Sheet (GIS) is a critical compliance document required by the Securities and Exchange Commission (SEC) in the Philippines. This document provides an annual update on a corporation’s basic information, including its officers, directors, shareholders, and other corporate details. Filing the GIS is mandatory for all domestic and foreign corporations registered in the Philippines.

Failure to file the GIS can lead to penalties, suspension, or revocation of the corporation’s registration. To ensure compliance, here’s a step-by-step guide on how to file the GIS with the SEC.

What is the General Information Sheet (GIS)?

The GIS is an official document that contains essential details about a corporation, such as:

• Corporate name and SEC registration number.
• Principal office address and contact information.
• Names and personal details of directors, officers, and shareholders.
• Corporate structure, including ownership percentages.

The GIS serves as a record for the SEC to monitor compliance and assess the corporation’s legal standing.

Who Needs to File the GIS?

The GIS must be filed by the following entities:

• Stock Corporations: Domestic and foreign corporations with stockholders.
• Non-Stock Corporations: Including non-profits, foundations, and associations.

Filing is required annually or within 30 calendar days from the date of the annual stockholders’ or members’ meeting.

Step-by-Step Guide to Filing the GIS

Step 1: Prepare the GIS Form

• Download the GIS template from the SEC website. The form is available for stock corporations and non-stock corporations.
• Ensure the form is completely filled out with accurate and updated information, including:
  • The corporation’s registered office address.
  • List of directors and officers with their positions, nationalities, and addresses.
  • Ownership structure and shareholder details (for stock corporations).

Step 2: Gather Supporting Documents

Attach the following documents, if applicable:

• Secretary’s Certificate: Certifying the election of directors and officers during the annual meeting.
• Proof of Appointment of Foreign Directors: If foreign nationals hold directorships.

Ensure all supporting documents are properly signed, notarized, and dated.

Step 3: Submit the GIS via SEC’s eFAST

The SEC requires the GIS to be filed online through its Electronic Filing and Submission Tool (eFAST). Here’s how to do it:

1. Create an eFAST Account:

   • Visit the SEC eFAST portal (https://efast.sec.gov.ph).
   • Register your corporation and upload the required authorization forms.

2. Log In to Your eFAST Account:
   Use your registered credentials to access the eFAST system.

3. Upload the Completed GIS:

   • Select the “General Information Sheet” submission type.
   • Attach the GIS and supporting documents in PDF format.
   • Ensure that the file size and naming conventions comply with SEC requirements.

4. Pay the Filing Fee (if applicable):

   • Some filings may require minimal fees depending on amendments or corrections to the GIS.
   • Payments can be made online via eFAST’s payment partners.

5. Receive Acknowledgment Receipt:

   • Once submitted, you will receive an electronic acknowledgment receipt from the SEC.
   • Save a copy for your records.

Step 4: Monitor SEC Updates

After submission, the SEC may contact you for clarifications or additional information. Monitor your eFAST account and corporate email regularly to address any issues promptly.

Tips for a Smooth GIS Filing Process

1. Verify Information Accuracy:

   • Double-check all details before submission to avoid amendments or penalties.
   • Ensure consistency with the corporation’s Articles of Incorporation and bylaws.

2. Comply with Deadlines:

   • File the GIS within 30 days from the annual meeting to avoid late penalties.
   • Keep a compliance calendar for important filing dates.

3. Keep Records Organized:

   • Maintain a digital and physical copy of the submitted GIS and acknowledgment receipt.
   • Update your records regularly to reflect changes in directors, officers, or ownership.

4. Seek Professional Assistance:

   • If unsure about the process, consult a corporate lawyer or compliance specialist to ensure proper filing.

Consequences of Non-Compliance

Failure to file the GIS or submitting inaccurate information may result in:

• Monetary fines and penalties.
• Suspension of corporate privileges.
• Revocation of the corporation’s SEC registration.

Non-compliance also affects the corporation’s reputation, potentially deterring investors and partners.

Final Thoughts

Filing the General Information Sheet (GIS) is more than just a regulatory obligation—it’s an opportunity to demonstrate your corporation’s commitment to transparency and legal compliance. By following the proper steps and ensuring timely submission, you protect your corporation from penalties and maintain good standing with the SEC.

If you need assistance with GIS preparation or filing, consult a legal expert or corporate compliance professional. Compliance is the key to sustaining and growing your business in the Philippines.