SEC Update: A Chance for Corporations to Catch Up on Pending AFS and GIS Compliance
Does your corporation still have pending General Information Sheet (GIS) or Audited Financial Statements (AFS) filing?
The Securities and Exchange Commission (SEC) has issued a temporary relief measure that allows corporations with pending reportorial requirements to catch up on compliance before additional monthly delay penalties resume.
This update gives corporations an opportunity to catch up on their compliance without the added burden of increasing monthly penalties. However, before business owners relax, there is one important thing to remember: this does not mean that penalties are completely removed.
What Does This SEC Update Mean?
Under SEC Memorandum Circular No. 16, Series of 2026, the monthly penalty that normally increases for every month of delay will not be imposed during the suspension period.
This applies to late or non-filing of important corporate reportorial requirements, such as
Audited Financial Statements (AFS)General Information Sheet (GIS)
For corporations with pending filings, this is a valuable opportunity to settle compliance requirements before the suspension period ends.
Filing Is Still Required
While the monthly penalty is temporarily suspended, corporations are still required to submit their AFS, GIS, and other applicable SEC reportorial requirements.
The suspension only covers the monthly penalty component. The suspension applies only to the per-month-of-delay penalty. Other applicable filing fees, base penalties, or charges under existing SEC rules may still apply, depending on the circumstances.
Corporations should not ignore their pending compliance. Once the suspension period expires, applicable penalties under SEC rules may again begin to accrue.
Why Corporations Should Act Now
If your corporation has pending AFS, GIS, or other SEC compliance concerns, now is the best time to address them.
This temporary suspension gives business owners a chance to update their records, reduce the burden of accumulating penalties, and avoid bigger compliance issues in the future.
Waiting until the deadline is near may only make the process more stressful, especially if there are missing documents, outdated records, or unresolved filings that still need to be prepared.
How IEN Business Consultancy Can Help
SEC compliance can be challenging, especially for corporations that need to manage deadlines, documents, reports, and government requirements while also running daily business operations.
At IEN Business Consultancy, we provide professional assistance for corporations that need support with:
AFS and GIS Filing
SEC Compliance Monitoring
Business Registration
Corporate Advisory
Other SEC Compliance Concerns
Our team can help you review your pending requirements, prepare the necessary documents, and guide you through the filing process.
Don’t Wait Until the Suspension Period Ends
The suspension of the per-month delay penalty is only temporary. Corporations should take this as an opportunity to catch up on compliance while the monthly penalties are not being added.
If your corporation has pending SEC requirements, now is the right time to take action.
Whether you have years of unfiled reports or simply need assistance meeting your upcoming SEC deadlines, IEN Business Consultancy is ready to help. Our team can assess your compliance status, prepare the required documents, and assist you throughout the filing process. Contact us today and take advantage of the temporary suspension period before it ends.
Message IEN Business Consultancy today and let us help you stay compliant.
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