Brazil: Central Bank of Brazil – Periodic Statements & Filings
Pursuant to Law nº 14,286/2021 and the RulesBACEN (Resolução BCB) nº 281/2022 and 348/2023, the filing obligations towards the Central Bank of Brazil were changed and are effective since the year of 2023. The DEF (Economic-Finance Filing) is now called Periodic Statement (Declaração Periódica - DP). The threshold criteria for quarter filings are now based only on the amount of total assets on the prior fiscal year and was increased from BRL 250MM to BRL 300MM.
As of July 1st, 2024, the Central Bank of Brazil is receiving the annual Census of foreign investments in Brazil with accounting and operational information applicable solely for Brazilian entities that are receivers of foreign capital, in any amount, and concomitantly with total net worth equal or higher than USD 100 Million on 12/31/2023. The deadline for this filing is August 15th, 2024.
Key changes and requirements
Failure to provide any of the statements above or, furthermore, the submission of false, incomplete, incorrect, or untimely information shall subject the declarant to the payment of a fine in accordance with the provisions of art. 66 of BCB Resolution No. 131 of August 20, 2021, as follows:
To submit the filing or make registration in disagreement with the deadlines set forth in the rule: one percent (1%) of the amount subject to registration or statement, limited to R$ 25,000.00.
To provide incorrect or incomplete information: two percent (2%) of the amount subject to registration or statement, limited to R$ 50,000.00.
Not to make registration, not to file a statement, or not to present documents proving the information provided to the Central Bank of Brazil: five percent (5%) of the amount subject to registration or statement, limited to R$ 125,000.00.
To provide false information in registration or statement: ten percent (10%) of the amount subject to registration or statement, limited to R$ 250,000.00.
The fine mentioned in item (i) above shall be reduced in the following situations:
Delay from one to thirty days, in which case it shall correspond to 10% of the respective amount; or
Delay from thirty-one to sixty days, in which case it shall correspond to 50% of the respective amount.
The fines mentioned in items (i), (ii) and (iii) will be increased by 50% (fifty per cent) in case the company does not make, does not correct or does not amend the registration or the statement when requested to do so by the Central Bank of Brazil.
How can we help?
Computershare Governance Services global team of professionals can provide advisory services in Brazil where you will be supported with the adoption of the increase in total asset requirements requiring a filing obligation on a Period Statement.
Computershare’s leading entity management system GEMS can help you manage the recurring compliance with regulatory filings, as well as the information regarding whether an entity is subject to this filing.
Contact:
Please contact your dedicated Computershare Relationship Manager or send an email to globalentityservices@computershare.com for more information about how Computershare may assist you in responding to these new requirements.
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