BIR Form 1702 Attachments: What Corporations Must Submit With Their Annual Income Tax Return

A corporation filing BIR Form 1702 — whether 1702-RT, 1702-EX, or 1702-MX — attaches CPA-audited financial statements with a signed Statement of Management’s Responsibility, a SAWT and BIR Form 2307 certificates if it claims creditable withholding tax, and BIR Form 1709 if it had related-party transactions during the year. Corporations face a heavier and more consistent attachment load than individual filers, because audited financial statements are effectively standard for an operating corporation under both BIR and separate SEC rules.

This guide covers attachments specifically for the corporate annual return. For which BIR Form 1702 variant your corporation files, see BIR Form 1702-RT vs 1702-EX vs 1702-MX; for the quarterly filings that precede it, see How to File BIR Form 1702Q. The individual counterpart to this checklist is BIR Form 1701 Attachments — worth reading if your entity is a sole proprietorship rather than a corporation, since the attachment mix differs in ways this guide calls out below.

What must corporations attach to BIR Form 1702? #

Four attachment categories cover most corporate BIR Form 1702 filers: CPA-audited financial statements with the Statement of Management’s Responsibility, a SAWT and BIR Form 2307 certificates for any CWT claimed, BIR Form 1709 for related-party transactions, and — separately from the BIR filing — an SEC submission of the same audited financial statements. Which apply depends on the corporation’s gross receipts, whether it has related-party dealings, and its SEC-registered status.

How does the audited-financial-statement requirement work for corporations? #

The BIR’s audited-financial-statement trigger for corporations is the same ₱3,000,000 gross-receipts test that applies to individuals: once gross sales, receipts, earnings, or output for the year crosses that line, Section 232 of the National Internal Revenue Code, as amended by the TRAIN Law (Republic Act No. 10963), requires books examined and financial statements certified by an independent, BIR-accredited CPA. For a corporation, this is rarely a close call — most operating businesses organized as corporations clear ₱3,000,000 in gross receipts well before it becomes a planning question.

What makes the corporate case different from an individual filing BIR Form 1701 is a second, separate audit requirement that individuals don’t face: the SEC requires stock and non-stock corporations whose total assets or total liabilities exceed the SEC’s own peso threshold to submit audited financial statements as an annual corporate reportorial requirement, filed through the SEC’s eFAST system on the SEC’s own schedule — distinct from, and in addition to, the BIR filing. The SEC raised this asset/liability threshold in 2026 to ease the audit burden on smaller corporations, but the two thresholds measure different things (gross receipts for the BIR test, total assets or liabilities for the SEC test) and are filed to two different agencies. A corporation that clears either threshold effectively needs a CPA-audited set of financial statements for the year; most corporations clear both and end up filing essentially the same AFS package twice, to two different portals.

Because of this overlap, the Account Information Form that a small self-employed individual can use in lieu of a full audit under BIR Form 1701 (see BIR Form 1701 Attachments) is a much narrower escape hatch for corporations in practice — a corporation would need to fall below both the BIR gross-receipts threshold and the SEC asset/liability threshold to avoid an independent audit entirely, which is uncommon for an active trading, service, or manufacturing entity.

What is the Statement of Management’s Responsibility, and who signs it? #

The Statement of Management’s Responsibility for Annual Income Tax Return is a signed affirmation that the corporation’s management — not just its external auditor — prepared the return and financial statements in accordance with the Tax Code and applicable BIR regulations, required under Revenue Regulations No. 3-2010. It affirms that any differences between the audited figures and the return have been reported as reconciling items, and that other required returns for the year have been filed and paid, except items contested in good faith.

For a corporation, the statement is signed by the President or Chief Executive Officer and the Treasurer or Chief Financial Officer — or officers performing those functions regardless of their exact title — and is bundled with the AFS package uploaded through eAFS, not filed as a standalone document. A missing or unsigned Statement of Management’s Responsibility is a common reason an otherwise-complete AFS package gets flagged as incomplete.

Is SAWT required with BIR Form 1702? #

Yes — a corporation claiming creditable withholding tax (CWT) as a credit on BIR Form 1702 must attach a SAWT summarizing every BIR Form 2307 certificate behind that credit, under Revenue Regulations No. 2-2006. This is the same SAWT mechanism used on the individual return, and for most corporations it isn’t a fresh exercise at year-end: the SAWT filed with each quarter’s BIR Form 1702Q already reconciles the certificates received through Q1–Q3, so the annual SAWT largely consolidates those same rows plus any BIR Form 2307 certificates received in Q4.

A corporation with no BIR Form 2307 certificates for the year — for example, one earning only income not subject to withholding — has no CWT credit to support and no SAWT to attach. For a corporation that does receive certificates, the SAWT and the underlying BIR Form 2307s should reconcile row for row before filing; mismatches between the SAWT total and the credit claimed on the return are a routine trigger for BIR inquiry.

When is BIR Form 1709 required? #

BIR Form 1709 (Information Return on Related Party Transactions) is required from a corporation that files an Annual Income Tax Return and had transactions with domestic or foreign related parties during the taxable period, under the streamlined guidelines in Revenue Regulations No. 34-2020. This attachment has no individual-return equivalent in practice — it exists specifically because corporate groups, parent-subsidiary structures, and affiliate transactions create related-party exposure that a sole proprietor’s return generally doesn’t.

Under RR No. 34-2020, the underlying transfer pricing documentation supporting BIR Form 1709 isn’t attached automatically at filing; it’s kept on hand and submitted within 30 calendar days of a request from the Commissioner or an authorized representative under a Letter of Authority. The form itself, however, is filed with the AITR whenever the corporation had reportable related-party dealings for the year — a common attachment for any corporation with intercompany loans, management fees, or shared-service charges among affiliates.

How are BIR Form 1702 attachments actually submitted? #

Corporate attachments move through two electronic channels, not a paper drop-off at the RDO: audited financial statements, the Statement of Management’s Responsibility, and BIR Form 1709 go through the BIR’s eAFS portal, while SAWT goes through the separate SAWT/eSubmission facility. eAFS was introduced by Revenue Memorandum Circular No. 49-2020, extended to fiscal-year filers and quarterly-return attachments by RMC No. 82-2020, and consolidated under RMC No. 43-2021, which made it the standard channel rather than a pandemic-era alternative. The standing submission window is 15 calendar days after the statutory ITR deadline, or 15 days from the actual filing date if the return itself was filed late — see What Is the BIR eAFS System? for the file-format rules, naming convention, and how the window shifts in years the BIR grants a blanket deadline extension.

SAWT follows a parallel path: the DAT file built from a corporation’s BIR Form 2307 certificates goes through the SAWT/eSubmission facility, a mechanic RMC No. 82-2020 extended to quarterly and annual return attachments alike. The SEC’s audited-financial-statement filing is a third, entirely separate submission — made through eFAST, on the SEC’s own coding schedule, and has no bearing on whether the BIR copy was filed on time.

Worked example: a ₱15,000,000 corporation filing 1702-RT #

Meridian Supply Corp., a domestic trading corporation with no incentive registration, reports ₱15,000,000 in gross receipts for the year — well above both the BIR’s ₱3,000,000 gross-receipts threshold and the SEC’s total-assets/liabilities threshold — so it files BIR Form 1702-RT rather than 1702-EX or 1702-MX, since all of its income is taxed at the regular corporate rate (see BIR Form 1702-RT vs 1702-EX vs 1702-MX to confirm which variant fits a given corporation).

During the year, three clients withheld tax on payments to Meridian:

Meridian’s finance team engages an independent CPA to audit its books, producing AFS that its President/CEO and Treasurer/CFO sign a Statement of Management’s Responsibility for. It builds a SAWT reconciling the ₱160,000 CWT credit to these three BIR Form 2307 certificates — largely carried forward from the SAWT rows already filed with its Q1–Q3 BIR Form 1702Q returns, plus the Q4 certificates. Meridian had no related-party transactions during the year, so BIR Form 1709 doesn’t apply. It e-files BIR Form 1702-RT through eFPS, uploads its AFS package and Statement of Management’s Responsibility through eAFS within 15 calendar days of the statutory deadline, submits its SAWT DAT file through the SAWT/eSubmission facility, and separately files the same audited financial statements to the SEC through eFAST on the SEC’s own schedule — three submissions, two agencies, one audited set of financial statements behind both BIR filings.

Frequently asked questions #

What has to be attached to BIR Form 1702? #

A corporation filing BIR Form 1702 (1702-RT, 1702-EX, or 1702-MX) generally attaches CPA-audited financial statements with a Statement of Management’s Responsibility, a SAWT and supporting BIR Form 2307 certificates if creditable withholding tax is claimed, and BIR Form 1709 with transfer pricing documentation if the corporation had related-party transactions during the year.

Do all corporations need audited financial statements for BIR Form 1702? #

Under Section 232 of the National Internal Revenue Code as amended by the TRAIN Law (Republic Act No. 10963), a corporation whose gross sales, receipts, earnings, or output exceeds ₱3,000,000 for the year must have its books examined and certified by an independent, BIR-accredited CPA. In practice nearly all operating corporations also fall under a separate SEC requirement to file audited financial statements once total assets or liabilities cross the SEC’s own threshold, so most corporations end up needing audited financial statements for both agencies regardless of which rule is technically decisive.

Is the SEC audited-financial-statement requirement the same as the BIR one? #

No. The BIR requirement under NIRC Section 232 as amended is measured by gross sales, receipts, earnings, or output and governs what accompanies BIR Form 1702. The SEC requirement is a separate corporate reportorial obligation, measured by total assets or total liabilities, filed through the SEC’s own eFAST system and due on the SEC’s own schedule. A corporation typically satisfies both with the same audited financial statements but files them to two different agencies through two different channels.

What is the Statement of Management’s Responsibility, and who signs it? #

The Statement of Management’s Responsibility for Annual Income Tax Return is a document affirming that the corporation’s management prepared the return and financial statements in accordance with the Tax Code and applicable regulations, required under Revenue Regulations No. 3-2010. For a corporation it is signed by the President or Chief Executive Officer and the Treasurer or Chief Financial Officer, or officers performing those functions regardless of title.

When is BIR Form 1709 required with BIR Form 1702? #

BIR Form 1709 (Information Return on Related Party Transactions) is required from corporations that file an Annual Income Tax Return and had transactions with domestic or foreign related parties during the taxable period, under Revenue Regulations No. 34-2020. Supporting transfer pricing documentation is kept on hand and submitted within 30 calendar days of a BIR request under a Letter of Authority, rather than attached automatically at filing.

Summary #

Corporate BIR Form 1702 attachments are heavier than the individual BIR Form 1701 checklist in one specific way: audited financial statements are near-universal for corporations, driven by two separate ₱3,000,000-class thresholds — gross receipts under NIRC Sec. 232 as amended for the BIR filing, and total assets or liabilities under SEC rules for the SEC filing — plus a Statement of Management’s Responsibility under RR No. 3-2010 that individual filers don’t sign in the same way. Add SAWT whenever CWT is claimed (RR No. 2-2006) and BIR Form 1709 whenever related-party transactions exist (RR No. 34-2020), and submit everything through the right electronic channel: eAFS for the AFS package, SAWT/eSubmission for the SAWT, and the SEC’s own eFAST for the separate SEC filing. For the individual-return version of this checklist, see BIR Form 1701 Attachments, and for the submission mechanics behind the AFS package, see What Is the BIR eAFS System?.