Financial statements: Reporting deadlines, amended for the fifth time

External Circular 100-000010 of May 26, 2020 of the Supersociedades extended for the fifth time the deadlines for filing the 2019 financial statements.

The report must now be made from June 3 to June 30, 2020. See here the calendar with the new deadlines.

“the Supersociedades has been forced to modify again the deadlines for Colombian companies to submit their financial information for the period 2019”

As has been happening in recent months, the Supersociedades has been forced to modify again the deadlines for Colombian companies to submit their financial information for the 2019 period.

This is due to the fact that the extension of the mandatory preventive isolation measure decreed by the National Government, by means of Decree 689 of 2020, makes it difficult to comply with the obligation. In that sense, the Supersociedades issued External Circular 100-000010 of May 26, 2020, by means of which it made modifications to the deadlines for the presentation of the financial statements for 2019.

Below is a summary of the new deadlines.

New deadlines for filing 2019 financial statements

External Circular 100-000010 of 2020 again modified numeral 1.2 of External Circular 201-000008 of 2019 (previously modified by Circulars 100-000003, 100-000007, 100-000008 and 100-000009 of 2020), by which the Supersociedades had initially established the deadlines for companies to file their 2019 financial statements.

The new calendar establishes that the reports scheduled to begin on Thursday, May 28 would now start on Wednesday, June 3 and would culminate on Tuesday, June 30, 2020, according to the last two digits of the company’s NIT, as shown in the following table:

Submission of additional documents

Companies, in addition to the financial statements, must also submit in PDF the following documents, at the latest within two (2) business days following the report of the financial statements:

–Certificationof financial statements signed by legal representative, accountant and statutory auditor.

–Notesto the financial statements.

– Managementreportof the administrators.

– Statutory auditor’sreport.

Keep in mind that the inspected companies of the groups 1, 2 or 3 of convergence, and to which the Supersociedades request the delivery of the information by urban or electronic mail, must only deliver the certification and the notes to the financial statements.

The other two documents must be kept at the disposal of Supersociedades to be delivered at any time when such entity requests them.

New deadlines for the submission of financial statements of other entities

External Circular 100-000010 of 2020 additionally extended the deadlines corresponding to the submission of financial statements of the following entities:

Deadlines that remain unchanged

According to External Circular 100-000010 of 2020, supervised or controlled companies, which belong to groups 1 or 2 of the convergence, must report the business practices report corresponding to 2019 between Monday, July 6 and Friday, July 17, 2020, as established in External Circular 100-000009 of 2020.

The deadlines are presented in the following table.

Source: Update