Quevedo & Ponce - Noticias Legales
Compliance with the annual obligation of submitting financial statements to the Superintendence of Companies
- April 3, 2025
- Quevedo & Ponce
In Ecuador, all companies under the supervision of the Superintendence of Companies, Securities, and Insurance must to submit their financial information annually within the first four months of each year, i.e., by April 30th. This obligation is established under Articles 20 and 23 of the Companies Law, which governs both domestic companies and foreign companies operating in the country.
The information to be submitted not only includes the financial statements but also other relevant documents that must be reviewed and approved by the general meeting before being submitted to the Superintendence. The approval and compliance with this process are crucial to avoid potential legal sanctions.
Requirements for Submission of Information
For Domestic Companies:
- Financial Statements
- Report or statement from the legal representative
- Report from the commissioner(s), supervisory board, or other auditing body
- External audit report
- List of administrators and/or legal representatives
- List of shareholders or partners
- Legible copy of the in force Taxpayer Identification Number (RUC)
- Certified copy of the minutes from the meeting that approved the financial statements
For Branches or Foreign Companies:
- Financial Statements
- External audit report
- List of authorized representatives or legal representatives
- Legible copy of the in force Taxpayer Identification Number (RUC)
- Authorized copy of the annex regarding the Financial Movement of Goods and Services
If the documentation is ready for filing but it has not been approved by the board before the deadline, the legal representative must submit it online to the Superintendence. This submission must be accompanied by a statement in which the legal representative assumes full responsibility, indicating that the board has not met or issued its decision regarding the documentation.
The non – accomplishment this obligation can result in significant legal consequences. Sanctions for not submitting the documentation on time may include fines of up to 12 minimum general wages. This measure is crucial to ensure the transparency and the proper functioning of the country’s economic system.
At Quevedo & Ponce, we understand the importance of complying with legal deadlines and avoiding unnecessary sanctions. We offer comprehensive legal advice to both domestic and foreign companies in preparing and submitting their financial information to the Superintendence of Companies. Our team of attorney’s specialization corporate law will guide you in the entire process, ensuring that you meet all legal requirements on time efficiently.
Más Artículos
Commercial Use Licenses in Ecuador
Did you know that commercial use licenses are key to legally protecting and leveraging your trademarks, software, or franchises? In Ecuador, these licenses are regulated by Código de Ingenios and allow rights holders and businesses to operate with legal security.
Protection of Intellectual Property Rights in the Digital Environment in Ecuador
Resolution No. 003-2024-DG-NT-SENADI establishes the technical standard for the application of preparatory procedures for verification and URL blocking to protect intellectual property rights in the digital environment in Ecuador, in the event of infringements and the difficulty of locating infringers.
New Labor Rights under the Organic Law on Persons with Disabilities
The new Organic Law on Persons with Disabilities, published in July 2025, repeals the previous 2012 law and introduces significant changes in the labor sphere. It strengthens the inclusion of persons with disabilities in employment, more clearly defines the rights of substitutes and caregivers, and establishes new obligations for employers.
S.A.S. and Sports Joint Stock Companies: New rules under the Organic Law of National Solidarity
The Organic Law of National Solidarity reinforce the restrictions applicable to Simplified Joint Stock Companies (S.A.S.) by expanding the list of prohibited activities — including mining and strategic sectors — to ensure that these entities remain focused on ventures with lower regulatory risk. Additionally, it introduces the Sports Joint Stock Company, a new legal form designed to professionalize the management of sports clubs and teams, subject to strict controls to prevent illicit activities.
Ecuador and the Netherlands Strengthen customs control and Intellectual Property protection
The new Agreement on Mutual Administrative Assistance in Customs Matters between Ecuador and the Kingdom of the Netherlands, published in the Second Supplement of the Official Register No. 63 (June 19, 2025), strengthens efforts to combat smuggling, counterfeiting, and commercial fraud. Through information exchange and coordinated surveillance mechanisms, it also reinforces the protection of intellectual property rights, benefiting authorities, operators, and rights holders.
