Information return on Brazilian cpaital held abroad
Information return on Brazilian cpaital held abroad

The obligation for the annual information return on Brazilian Capital held abroad, base date of December 31, 2021 (“Information Return”), to the Brazilian Central Bank (“BACEN”) begun on February 15, 2022. The deadline to file the Information Return is April 5th, 2022.

The Information Return is mandatory to all individuals and legal entities resident, domiciled or headquartered in Brazil that have offshore assets of any nature in a total amount equivalent to or greater than USD 1,000,000.00 on the base date of December 31, 2021.

Individuals and legal entities resident, domiciled or headquartered in Brazil that have offshore assets of any nature in a total amount equivalent to or greater than USD 100,000,000,00.00 must submit the Quarterly Information Return, on the base dates of March 31, June 30 and September 30, 2022. The deadlines for submitting the Quarterly Information Return, respectively, are (i) from April 30 to July 5th, 2022; (ii) from July 31 to September 5th, 2022; and (iii) from October 31 to December 5th, 2022.

All Information submitted to BACEN will receive confidential treatment. In case of disclosure of such information, BACEN will do so by preserving the name of involved parties.

By failing to submit the information or providing false, incomplete or inaccurate information or yet providing the information out of the deadlines and established conditions, the client may be subject to administrative fines, which may vary from BRL 2,500.00 to BRL 250,000.00 with the possibility of a 50% increase in some specific cases.

We are available to provide further clarification and to assist you in submitting the Information Return.

By Bruno Salama

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