Individuals and legal entities resident, domiciled or with headquarters in Brazil, as provided for in tax law, must report to the Central Bank of Brazil the assets and amounts held by them outside the country. The reporting is mandatory to those holding assets abroad (assets and rights, including corporate interests in companies, fixed-income securities, shares, real properties, deposits, loans investments, among others) amounting to or exceeding the equivalent to US$100,000.00 (one hundred thousand US Dollars) on December 31, 2019.
Furthermore, the individuals and legal entities mentioned above holding assets abroad must also deliver to the Central Bank of Brazil a quarterly report relating to assets held abroad on March 31, June 30 and September 30 of each year, in case the total amount of such assets reaches or exceeds the equivalent to US$100,000,000.00 (one hundred million US Dollars).
The report referring to December 31, 2019 must be delivered by means of the Brazilian Capital Abroad (CBE) reporting form available in the internet website of the Central Bank of Brazil at: www.bcb.gov.br, from February 17th, 2020 through 6PM of April 6th, 2020.
The manual containing detailed information about the content and requirements of the reporting is also available in the website of the Central Bank of Brazil.
The late delivery, lack of reporting, or the submission of false, inaccurate or incomplete information subjects the violator to a fine of up to R$ 250,000 (two hundred thousand Brazilian reais).
(CMN Resolution 3,854, of May 27, 2010, BCB Circular 3,624, of February 6, 2013, and BCB Circular 3,857, of November 14, 2017, as amended).