SEC filings
An OPC or corporation reports to SEC every year as well as to BIR. Here's what Kuting Kitchen OPC files, next to a regular corporation.
← 6.9 Closing the yearBIR isn't the only one
Kuting Kitchen OPC was registered with the SEC (Securities and Exchange Commission), not DTI, so it reports to SEC every year as well as to BIR.
| Registered as | Yearly SEC filings? |
|---|---|
| One Person Corporation (Kuting Kitchen) | Yes |
| Corporation, two or more stockholders | Yes |
| Sole proprietor, with DTI | No, BIR only |
The annual financial statements
Every corporation, OPC included, files its annual financial statements (AFS) with SEC. SEC sets the date each year: for 2025 statements it was 29 May 2026, moved to 15 June 2026 after BIR extended the annual return.
Earlier years were staggered by the last digit of the SEC registration number. Watch for SEC's circular on 2026 statements. A year that doesn't end in December: within 120 days after it ends.
BIR first, then SEC
The AFS you file with SEC must show that BIR received it: a BIR "Received" stamp, or the eAFS Transaction Reference Number (TRN) and confirmation (Lesson 6.8).
So the order is fixed: the 1702-RT by 15 April, the eAFS upload by 30 April, and only then SEC.
Everything goes through eFAST
SEC takes annual reports only through eFAST (its Electronic Filing and Submission Tool). Email, courier and over-the-counter filing are no longer accepted.
eFAST is open all week, but a report sent on a weekend or holiday counts as filed on the next working day.
Audited or not?
BIR and SEC each have their own test, and either one is enough to need an independent CPA:
| Who asks | Audit when |
|---|---|
| BIR (Tax Code Sec. 232(A)) | Gross sales above ₱3 million a yearKuting Kitchen: about ₱4.8M a year ✓ |
| SEC (MC 4-2026) | Total assets or liabilities above ₱3Mwas ₱600,000; same line for OPCs |
So Kuting Kitchen's AFS is audited whatever its assets. Below both lines, unaudited statements go with a sworn Statement of Management's Responsibility.
What an OPC's AFS must also show
With one owner, deals between the company and its owner need daylight. An OPC's AFS discloses transactions with its sole stockholder: say, Carla lending money to Kuting Kitchen, or renting it her own space.
If the auditor's opinion carries a qualification, management explains it.
Who runs it: GIS or officers form
SEC also wants to know who owns and runs the company. The form depends on the kind of corporation:
| OPC | Corporation | |
|---|---|---|
| Form | Form for Appointment of Officersno GIS | General Information Sheet (GIS) |
| When | Soon after incorporation, then on any change | 30 days after the annual stockholders' meeting |
SEC has been tightening the officers-form deadlines, so check the current ones when you incorporate.
The OPC extras
One owner means a few things a regular corporation doesn't need:
| Nominee and alternate nominee | Take over if Carla dies or can't actchanges reported to SEC |
|---|---|
| Treasurer's bond | If Carla is also the treasurerposted and renewed |
| Official email and mobile | On file with SECevery corporation, not only OPCs |
Late reports draw SEC penalties, separate from BIR's.
Pop Quiz: which SEC filings?
Pick the yearly SEC filings for each seller.
AFS, no GIS. An OPC files its AFS but reports its officers on the appointment form instead of a GIS.
AFS + GIS. A regular corporation files both, the GIS within 30 days after its annual meeting.
None with SEC. A sole proprietorship isn't registered with SEC; its annual statements go only to BIR.
General information for learning, not tax or legal advice. Kuting Kitchen is fictional. SEC rules from SEC memorandum circulars as summarized in October 2026; SEC changes its OPC rules and AFS dates often, so check sec.gov.ph or your corporate secretary for the current ones.
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