Additional reporting deadlines for operational reports of the Vietnam Bank for Social Policies

Additional reporting deadlines for operational reports of the Vietnam Bank for Social Policies (Illustration)

To be specific:, in Article 13 of Circular 84/2020/TT-BTC, point 4.4 of clause 4 Article 16 of Circular 62/2016/TT-BTC dated April 15, 2016, issued by the Ministry of Finance, which guides the implementation of the Financial Management Regulation for the Vietnam Bank for Social Policies promulgated along with Decision 180/2002/QD-TTg dated December 19, 2002, and Decision 30/2015/QD-TTg dated July 31, 2015, by the Prime Minister of the Government of Vietnam, the Vietnam Bank for Social Policies is responsible for preparing and submitting reports (including financial reports and operational reports) to the Ministry of Finance on a quarterly, annual, and ad-hoc basis as regulated, specifically:

First, the content of financial reports includes:

- Balance sheet;

- Income and expense report (according to Form 01-BC);

- Cash flow statement;

- Notes to financial statements.

Second, the content of operational reports includes:

- Balance sheet of third-level accounts (including off-balance sheet accounts);

- Report on overdue debts of the Bank (according to Form 02-BC);

- Report on employee earnings (according to Form 03-BC);

- Provisioning and usage report for credit risks, foreign exchange differences (according to Form 04-BC);

- Compensation report on interest rate differences and actual management fees (according to Form 05-BC).

Third, the General Manager of the Vietnam Bank for Social Policies is responsible for the accuracy and truthfulness of the financial reports.

Fourth, deadlines, data closing time, and methods for submitting operational reports and income and expense reports:

- Report submission deadlines:

- Quarterly reports: No later than 30 days from the end of the financial quarter.

- Annual reports: No later than 45 days from the end of the financial year.

- Data closing time for quarterly and annual reports: The start time for data collection is the first day of the reporting quarter or year; the end time for data collection is the last day of the reporting quarter or year.

- Methods for submitting reports can be carried out in one of the following ways:

- Direct submission in paper form;

- Postal service submission in paper form;

- Submission via email or specialized reporting software systems;

- Other methods as stipulated by law.

For more details, refer to the regulation at Circular 84/2020/TT-BTC, effective from November 15, 2020.

Le Vy

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