IGJ allows digital filing of financial statements for corporations

Starting March 1, 2024, corporations not included in the scope of Section 299 of General Companies Law 19,550 must submit their financial statements and related documentation before the Public Registry of Commerce of the City of Buenos Aires (“IGJ” for its acronym in Spanish). The filing must be done in a digitized form through the link "Digital Filing of Financial Statements of Corporations not included in the scope of Section 299" available on the official website of the IGJ: https://www.argentina.gob.ar/justicia/igj (according to General Resolution IGJ 15/2023).

Corporations allowed to submit their financial statements digitally are those NOT included in any of the items outlined in Section 299 of General Companies Law 19,550, as follows:

• make public offerings of their shares, stocks or debentures;
• have a share capital exceeding ARS TWO BILLION (ARS 2,000,000,000) (updated according to Resolution 10/2024 of the Ministry of Justice);
• are of mixed economy or are considered as corporation of the Section VI of Law 19,550;
• request, in any manner, money or securities from the general public, with promises of future benefits or services;
• exploit concessions or public services;
• are controlling companies or subsidiaries of any of the above mentioned items;
• are singleshareholder corporations.

Up to March 1, 2024, filings of the financial statements will continue to be made through an application program called "SITIGJ", regulated by General Resolution IGJ 7/15, in force since 2006. Until February 28, 2025, the SITIGJ program will continue to operate.

General Resolution IGJ 15/2023 details the requirements and necessary documentation for filing digitized financial statements. Among other things, copies of board and shareholder meeting minutes, copies of financial statements with audit reports, reports from the statutory body (if applicable), and a memorandum signed by the legal representative must be submitted.

General Resolution IGJ 15/2023 looks for improvements in the the efficiency of administrative processes, offering corporations a more friendly alternative to fulfill their obligations. Additionally, as it is an online procedure, attendance to IGJ´s office is no longer necessary, meaning a major gain for corporations in terms of convenience and accessibility.