Financial statements to the supercompanies: extension of deadlines

The Supersociedades extended the deadlines for companies to submit their 2019 financial statements, due to the contingency situation in the country as a consequence of COVID-19.

In this editorial we relate the new deadlines, as well as the information and those obliged to report.

The Superintendence of Companies -Supersociedades- issued on March 17, 2020 External Circular 100-000003, by means of which it extends the deadlines for companies to report their financial statements as of December 31, 2019.

According to the statement published by the same entity, the measure aims to address the current contingency situation in which the country finds itself to prevent, contain and control the spread of the coronavirus (COVID-19).

“societies will no longer have to start reporting their financial statements on March 30, 2020, as previously planned.”

In this regard, societies will no longer have to start reporting their financial statements on March 30, 2020, as previously planned, but will do so from Tuesday, April 14 and until Tuesday, May 12, 2020.

New deadlines for submitting financial statements to the Superintendency of Corporations

External Circular 100-000003 of 2020 modifies numeral 1.2 of External Circular 201-000008 of 2019, by which Supersociedades had initially established the deadlines and conditions that supervised, controlled and inspected companies of groups 1, 2 and 3 must follow to submit their 2019 basic financial statements.

The new deadlines for filing the 2019 financial statements are as follows:

Obligated parties and information to be submitted.

“Regarding the obligated parties and the information that must be submitted, the Supersociedades did not make any modification.”

Regarding the obligated parties and the information to be submitted, the Supersociedades did not make any modification, therefore, the provisions of External Circular 201-000008 of 2019 must continue to be observed.

Source: Actualize