2022 Periodic Obligations | BACEN Update of Corporate Capital Structure and Submission of Financial Information

Up to March 31, 2022, the Brazilian companies receiving direct foreign investment (i.e., those with foreign partners) shall submit to the Brazilian Central Bank (“BACEN”) their respective updated corporate capital structure and economic-financial information through the Electronic Declaratory Record - Direct Foreign Investment (“RDE-IDE”) of BACEN.

Companies having total assets or net equity lower than BRL 250,000,000.00 must update their information annually by uploading a new corporate capital structure in the system.

In order to comply with such obligation, BACEN requires the update of the following information in accordance with the base date of December 31, 2021: (i) net equity value; (ii) corporate capital paid-in; and (iii) corporate capital paid-in by each foreign investor.

Companies with total assets or net equity equal to or greater than BRL 250,000,000.00 shall submit quarterly economic-financial information as follows: (i) Up to March 31, 2022, referring to the base date of December 31, 2021; (ii) June 30, 2022, referring to the base date of March 31, 2022; (iii) September 30, 2022 referring to the base date of June 30, 2022; and (iv) December 31, 2022, referring to the base date of September 30, 2022.

In order to comply with the quarterly obligation, the companies shall submit the following data, in accordance with each base date: (i) corporate capital paid in; (ii) net equity value; (iii) assets total value; (iv) liabilities value; (v) net profits or losses in the period, (vi) country of domicile of the final shareholder of the foreign investors, among other information.

Additionally, whenever a change in the corporate ownership stake held by a foreign investor occurs, the RDE-IED must be updated within the following 30 days.

By failing to submit the information or providing false, incomplete, inaccurate or untimely data, the client may be subject to administrative fines imposed by BACEN.

We are available to provide further clarification and to assist you in submitting the information detailed above.

By Bruno Salama

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