Corporate Compliance · GIS Updates
GIS filing for changes in officers, directors or shareholders
When your corporation changes, the SEC record has to change with it. We file updated GIS reports promptly after every change.
Overview
When your corporation changes, the SEC needs to know
The annual GIS is a snapshot, but corporations change during the year. New directors are elected, officers resign, shares change hands and beneficial ownership shifts. Philippine rules require these changes to be reported within set periods. The Revised Corporation Code, for example, requires the corporate secretary to report the death, resignation or cessation of a director or officer within seven days of learning of it.
Late or missing updates leave the public record out of step with reality, and that tends to surface at the worst moment: a bank asking for evidence of signatories, a buyer running due diligence, a regulator reviewing ownership. We file updated reports promptly and keep your internal records aligned with them.
What we handle
Changes reported, records aligned
Every change routed to the right filing.
Change assessment
Each change identified with the report it triggers and when it is due.
Supporting documents
Resolutions, minutes and deeds prepared to support the update.
Updated GIS filing
The amended GIS prepared, certified and filed with the SEC.
Record alignment
Stock and transfer book and internal registers updated to match.
How it works
How updates work
From the change to a consistent record.
Change notified
You tell us what has changed, or we pick it up from your records.
Documents prepared
Supporting corporate documents drafted and signed.
Filing
The updated GIS and any related report filed with the SEC.
Records updated
Internal registers brought in line with the filed information.
Estimated timeline
Within 2 weeks after the board meeting
Timelines are estimates and depend on complete documents and government agency processing.
Why report changes through ILA
Prompt filing
Changes reported within the periods the rules set.
Nothing missed
Every change checked for the report it triggers.
One consistent record
SEC filings and internal registers kept in agreement.
Frequently asked questions
GIS update questions, answered
Which changes need to be reported?
Changes in directors, officers, stockholders, beneficial owners and other information on the GIS. Election results, for instance, must be reported within 30 days after the election, and the death, resignation or cessation of a director or officer within seven days of learning of it.
We missed reporting a change in the past. Can it be fixed?
Usually, yes. We prepare the late filings and supporting documents to bring the record current, and advise on any penalties involved.
Does a share transfer require an updated GIS?
Yes, where it changes your stockholders. The transfer must first be recorded in the stock and transfer book, which for a sale requires BIR clearance, and the updated GIS follows.
Has something changed in your corporation?
Book a free consultation and we will make sure the change is reported correctly.
