TARLAC CITY (PIA) -- Securities and Exchange Commission-Tarlac Extension Office (SEC-TEO) shifted to the online submission of corporations’ (stock and non-stock) annual reports via Electronic Filing and Submission Tool (EFAST) facility. 
 
EFAST facility is an online submission tool for reports such as General Information Sheet (GIS), Financial Statement (FS), and other special forms. 
 
“The adoption of the EFAST facility is part of our digital transformation in all of our services towards ease of doing business and efficient government service delivery in all government agencies. We are doing our best to ensure the smooth implementation of this online facility and we are asking our clients and stakeholders for your cooperation and utmost understanding on this transition in our system,” SEC-TEO Director Richard Laus said. 
 
Laus noted that the manual submission of reports such as over-the-counter, and via mail or courier shall no longer be accepted upon the issuance of SEC Memorandum Circular No. 2, Series of 2022. 
 
“To submit reports, the portal requires corporations to enroll their company and its designated filer. With this innovation [EFAST facility], the corporation is no longer required to travel and place their submissions, reproduce reports in five copies, and stay in long lines to have their reports accepted. This has saved time, money, and resources for the clients,” Laus explained. 
 
The director reminded that late filing of annual reports after the due dates shall be subject to prescribed penalties. 
 
SEC-TEO clients may reach the contact center catering EFAST facility concerns through its hotline number at 0950-029-5715. (CLJD/TJBM-PIA 3)