Common Mistakes in GIS Filing That Lead to SEC Penalties

Filing your General Information Sheet (GIS) with the SEC may seem routine — but small mistakes can result in penalties, compliance issues, and unnecessary stress for your company.

Here are the most common errors businesses make:

1. Late Filing

The GIS must be submitted within 30 calendar days from the date of the annual stockholders’ meeting (ASM) (or as required under SEC guidelines). Missing this deadline can lead to monetary penalties and may affect your company’s good standing.

Tip: Mark your SEC compliance calendar immediately after your ASM.

2. Incomplete or Missing Signatures

The GIS must be properly signed by authorized officers (typically the Corporate Secretary and/or authorized representative). Missing signatures or incomplete certifications can cause rejection of your filing.

Tip: Double-check signature pages before submission — including digital signatures if filing electronically.

3. Incorrect or Outdated Corporate Information

Common issues include:

• Wrong list of directors or officers

• Outdated shareholding structure

• Incorrect Tax Identification Numbers (TINs)

• Inconsistent data versus previous filings

Errors like these can trigger SEC clarification notices or penalties.

Tip: Cross-check your GIS against your latest Articles of Incorporation, By-Laws, and stock and transfer book before filing.

Why Accuracy Matters

Your GIS reflects your company’s official corporate structure. Inaccurate filings may:

• Delay business transactions

• Affect bank or investor requirements

• Create compliance risks

• Result in avoidable SEC fines

Proper review and timely filing protect your company’s legal standing and credibility.