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 amounting to or exceeding the equivalent of 1 million USD on December 31, 2020. Those assets include properties and rights, such as corporate interests in companies, fixed-income securities, shares, real properties, deposits, loans investments, among others.
Those same individuals and legal entities must deliver a quarterly report to the Central Bank of Brazil listing assets held abroad on March 31, June 30 and September 30 of each year, if the total value of such assets amounts to or exceeds the equivalent to 100 million USD.
The report referring to December 31, 2020, must be delivered through the Brazilian Capital Abroad (CBE) reporting form available on the Central Bank of Brazil website at www.bcb.gov.br, from February 15, 2021, through April 5, 2021, at 6 PM.
The manual containing detailed information about the reporting content and requirements is also available on the Central Bank of Brazil website.
The late delivery of the declaration, as well as the lack of reporting or the submission of false, inaccurate or incomplete information, subjects the violator to a fine of up to 250,000 BRL imposed by the Central Bank of Brazil.
(CMN Resolution 4.841, of July 30, 2020; 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).