Non-Acceptance of Checks/Drawn Checks from Closed Banks by Revenue Collection Officers

July 28, 2015 REVENUE MEMORANDUM CIRCULAR NO. 043-15 SUBJECT : Non-Acceptance of Checks/Drawn Checks from Closed Banks by Revenue Collection Officers TO : All Revenue Collection Officers (RCOs)/Special Collection Officers (SCOs)/Collection Officers (COs) and Others Concerned For the information and guidance of all concerned, all Revenue Collection Officers (RCOs)/Special Collection Officers (SCOs)/Collection Officers (COs) are hereby advised not to accept checks, as well as taxpayer's checks drawn from the lists of banks that were ordered closed from January, 2014 to June 30, 2015 (please see Annex "A-1" and Annex "A-2"), as per reports from the Philippine Deposit Insurance Corporation (PDIC), in payment of internal revenue taxes. Further, per Monetary Board Resolutions of the Bangko Sentral ng Pilipinas (BSP), the said banks and their branches are prohibited from doing business in the Philippines and have all been placed under receivership with PDIC as the designated Receiver. All internal revenue officials and employees concerned are hereby enjoined to give this Circular as wide a publicity as possible. (SGD.) KIM S. JACINTO-HENARES Commissioner of Internal Revenue ANNEX A-1 Closed Banks under PDIC Receivership and Liquidation (Chronologically Arranged) Monetary Board Date of PDIC Name of Closed Banks Resolution Letter Bank Bulletin Issued No. Date Number Date 1 Silangan Savings and Loan Bank, Inc. 36-A 01/09/14 01/10/14 2014-01 01/16/14 2 Rural Bank of Reina Mercedes (Isabela), Inc. 204 02/07/14 02/10/14 2014-07 02/27/14 3 Rural Bank of Montevista (Davao Del Norte), Inc. 407 03/06/14 03/07/14 2014-09 03/25/14 4 Rural Bank of Pres. M.A. Roxas (Zamboanga Del Norte) 464 03/20/14 03/21/14 2014-12 04/24/14 5 Gulf Bank (Rural Bank of Lingayen, Inc.) 543 04/03/14 04/04/14 2014-11 04/16/14 6 Cavite Rural Banking Corporation 706.A 05/09/14 05/09/14 2014-13 05/16/14 7 Asian Consumers Bank (A Rural Bank), Inc. 981 06/26/14 06/27/14 2014-15 07/04/14 8 Rural Bank of Oroquieta (Misamis Occidental), Inc. 1143 07/21/14 07/22/14 2014-18 08/26/14 9 Banco Carmona, Inc. A Rural Bank 1181.A 08/01/14 08/04/14 2014-16 08/11/14 10 Rural Bank of Padre Burgos (Southern Leyte), Inc. 1392.A 09/12/14 09/15/14 2014-19 09/18/14 11 Rural Bank of Lobo, Inc. 1438 09/18/14 09/19/14 2014-20 10/16/14 12 Fil-Agro Rural Bank, Inc. 1486 09/25/14 09/26/14 2014-21 10/27/14 13 Cooperative Bank of Tarlac, Inc. 1685 10/24/14 10/24/14 2014-22 11/03/14 14 Synergy Rural Bank, Inc. 1753.A 11/06/14 11/07/14 2014-24 12/12/14 15 Rural Bank of Burauen 1922 12/04/14 12/10/14 2014-25 12/19/14 16 Community Bank (Rural Bank of Alfonso, Inc.) 284 02/26/15 02/27/15 2015-04 03/24/15 17 Rural Bank of Magsingal (Ilocos Sur). Inc. 331.13 03/05/15 03/06/15 2015-07 03/30/15 18 Rural Bank of Labrador (Pangasinan), Inc. 596 04/16/15 04/16/15 2015-08 04/21/15 19 Surigaonon Rural Banking Corporation 634 04/23/15 04/24/15 2015-11 05/25/15 20 Community Rural Bank of Magsaysay (Davao del Sur), Inc. 716 05/07/15 05/08/15 2015-09 05/15/15 21 Rural Bank of Sta. Magdalena (Sorsogon), Inc. 756.A 05/14/15 05/15/15 2015-10 05/22/15 22 Siargao Bank (A Rural Bank), Inc. 919.B 06/11/15 06/15/15 2015-12 07/06/15 23 Rural Bank of Taysan (Batangas), Inc. 1001.B 06/26/15 06/29/15 2015-13 07/10/15 ANNEX A-2 Closed Banks under PDIC Receivership and Liquidation (Alphabetically Arranged) Monetary Board Date of PDIC Name of Closed Banks Resolution Letter Bank Bulletin Issued No. Date Number Date 1 Asian Consumers Bank (A Rural Bank), Inc. 981 06/26/14 06/27/14 2014-15 07/04/14 2 Banco Carmona, Inc. A Rural Bank 1181.A 08/01/14 08/04/14 2014-16 08/11/14 3 Cavite Rural Banking Corporation 706.A 05/09/14 05/09/14 2014-13 05/16/14 4 Community Bank (Rural Bank of Alfonso, Inc.) 284 02/26/15 02/27/15 2015-04 03/24/15 5 Community Rural Bank of Magsaysay (Davao del Sur), Inc. 716 05/07/15 05/08/15 2015-09 05/15/15 6 Cooperative Bank of Tarlac, Inc. 1685 10/24/14 10/24/14 2014-22 11/03/14 7 Fil-Agro Rural Bank, Inc. 1486 09/25/14 09/26/14 2014-21 10/27/14 8 Gulf Bank (Rural Bank of Lingayen, Inc.) 543 04/03/14 04/04/14 2014-11 04/16/14 9 Rural Bank of Burauen 1922 12/04/14 12/10/14 2014-25 12/19/14 10 Rural Bank of Labrador (Pangasinan), Inc. 596 04/16/15 04/16/15 2015-08 04/21/15 11 Rural Bank of Lobo, Inc. 1438 09/18/14 09/19/14 2014-20 10/16/14 12 Rural Bank of Magsingal (Ilocos Sur), Inc. 331.13 03/05/15 03/06/15 2015-07 03/30/15 13 Rural Bank of Montevista (Davao Del Norte), Inc. 407 03/06/14 03/07/14 2014-09 03/25/14 14 Rural Bank of Oroquieta (Misamis Occidental), Inc. 1143 07/21/14 07/22/14 2014-18 08/26/14 15 Rural Bank of Padre Burgos (Southern Leyte), Inc. 1392.A 09/12/14 09/15/14 2014-19 09/18/14 16 Rural Bank of Pres. M.A. Roxas (Zamboanga Del Norte) 464 03/20/14 03/21/14 2014-12 04/24/14 17 Rural Bank of Reina Mercedes (Isabela), Inc. 204 02/07/14 02/10/14 2014-07 02/27/14 18 Rural Bank of Sta. Magdalena (Sorsogon), Inc. 756.A 05/14/15 05/15/15 2015-10 05/22/15 19 Rural Bank of Taysan (Batangas), Inc. 1001.B 06/26/15 06/29/15 2015-13 07/10/15 20 Siargao Bank (A Rural Bank), Inc. 919.B 06/11/15 06/15/15 2015-12 07/06/15 21 Silangan Savings and Loan Bank, Inc. 36-A 01/09/14 01/10/14 2014-01 01/16/14 22 Surigaonon Rural Banking Corporation 634 04/23/15 04/24/15 2015-11 05/25/15 23 Synergy Rural Bank, Inc. 1753.A 11/06/14 11/07/14 2014-24 12/12/14