Supersociedades 2020: Maturities modified due to COVID-19

For the fourth time, Supersociedades extended the deadlines for companies to report their 2019 financial statements, which will run from May 28 to June 26, 2020.

In addition, they changed the deadlines for submitting the business practices report.

The Supersociedades issued External Circular 100-000009 of May 8, 2020, by means of which it informed a fourth extension in the deadlines for companies to submit their financial statements as of December 31, 2019; in addition, it extends the deadlines for entities to submit the business practices report.

The above measure was taken as a result of the national government’s decision to extend the preventive isolation measure in the Colombian territory until May 25, 2020, which makes it difficult for companies to comply with this obligation(see Legislative Decree 636 of 2020).

New deadlines for filing 2019 financial statements

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

“The new calendar establishes that the reports, scheduled to begin on Wednesday, May 13, would now start on Thursday, May 28 and would culminate on Friday, June 26, 2020”

The new calendar establishes that the reports, scheduled to begin on Wednesday, May 13, would now start on Thursday, May 28 and culminate on Friday, June 26, 2020, according to the last two digits of the company’s NIT, as shown in the following table:

New deadlines for submitting the 2019 business practices report.

External Circular 100-000009 of 2020 also extends for the second time the deadlines for supervised or controlled companies, which belong to groups 1 or 2 of the convergence and which are in normal operating conditions, to report the business practices report corresponding to 2019. The reports shall be made between Monday, July 6 and Friday, July 17, 2020, as follows:

Deadlines to be maintained

The Supersociedades had modified, by means of External Circular 100-000008 of April 24, 2020, the deadlines for some entities that have special maturities to submit their 2019 financial information. These did not present modifications, so entities must continue to observe them.

Source: Actualize