Quarterly DEF: next submission must be made by March 31 

New resolutions have changed the format for the three-month statements, but the submission pertaining to 12/31/2022 is still due 

In 2023, companies receiving foreign direct investment should be extra mindful when submitting information to the Central Bank of Brazil (Bacen), as recent regulations provide for the replacement of the Economic-Financial Statement (DEF) with a new format of periodic statements. 

The new rules have changed the way through which information must be supplied. Nevertheless, the Quarterly DEF pertaining to the base-date of 12/31/2022 is still due, and taxpayers must file the corresponding information by March 31 of this year, otherwise they will be subject to a fine of up to BRL 250,000. 

Who is required to file the DEF? 

The upcoming submission must be made by companies receiving foreign direct investment who held total assets of BRL 300 million or more on the base-date of December 31, 2022. 

Note that not only have the new resolutions increased the threshold for declaring those assets (which used to be BRL 250 million) but they have also updated the requirements to exclude the criterion of net equity. 

Schedule for filing the quarterly statements in 2023

At the end of 2022, the Central Bank published transitional provisions that must be complied with when filing the quarterly statements due for this year.

In practice, the old DEF schedules will still be applied in some points, whereas for others the new provisions established by the recent rules will be in force. Check out the schedule for the 2023 submissions below:

In good standing with the Central Bank

Domingues e Pinho Contadores has a team dedicated to assisting clients in meeting their Central Bank obligations, keeping track of newly enacted regulations to ensure that their businesses and investments remain in full compliance. You can rely on our support: dpc@dpc.com.br.