The General Inspection of Justice has resolved that as from March 20, 2021, Simplified Corporations must submit their financial statements virtually, through the TAD Platform. This must be done within 15 days since the Assembly approves them. In order to carry out the procedure correctly, the following documentation must be submitted:
- Minutes of the meeting of the Board of Directors that called the Meeting to approve the financial statements.
- Copy of the call to the approval meeting, which the Company may dispense with if all shareholders attend said meeting and unanimously approve its agenda.
- Minutes of the meeting of approval, with its respective attendance record sheet.
- A complete copy of the financial statements, signed by the Company’s Legal Representative, by the auditing body ‑if any- and by a public accountant.
- Duly signed report of the auditing body, if any.
- Report signed by the Legal Representative.
- Certified Public Accountant’s report in accordance with the terms of the Annex to the resolution. The Accountant’s signature shall be legalized by the Council of Graduates in Economic Sciences.
- Statement issued by the Company’s Legal Representative, made under the terms of the Annex to the resolution, providing that the information and documentation presented corresponds to the financial statements.
In line with the increased regulatory burden that has weighed on Simplified Corporations in the last year, this new resolution provides the mechanism to comply with the financial statements filing. At Lerman & Szlak we advise these companies to be updated with the compliance of these requirements as penalties might be applicable. Sanctions for non-compliance are mere warnings and fines for the Company, its directors, and internal auditors of up to $100,000.
For further information and/or advice regarding corporate compliance, please contact us at [email protected].
 For further information please visit: https://lermanszlak.com/es/sociedades-por-acciones-simplificadas-cambios-en-las-reglas-de-juego-durante-el-2020/