The deadline to file the Statement of Brazilian Capital Abroad (CBE) for the second quarter of 2018

The Quarterly Statement of Brazilian Capitals Abroad (Declaração Trimestral de Capitais Brasileiros no Exterior - “CBE”) must be filed by individuals and legal entities resident, residents or domiciled in Brazil, holding assets (assets and rights) against non-residents, including real estate, deposits, and other assets, whose sum is equal to or greater than USD 100,000,000.00 or equivalent in other currencies, at the base dates of March 31, June 30 and September 30 of each year.

CBE deadline for the second quarter of 2018

 

The deadline to file the statement for the amounts referring to the quarter ended June 30, 2018 shall be from July 31 to September 5, 2018.

What should be reported

The statement of goods and rights abroad will include information related to the following modalities:

I - deposit;

II - loan in currency;

III - financing;

IV - financial leasing;

V - direct investment;

VI - portfolio investment;

VII - investment in derivative financial instruments;

VIII - other investments, including real estate and other assets.

 

Note:

• Those responsible for providing information pursuant to this Resolution must keep the supporting documents of the information provided, for a five-year period from the statement base date, to present to the Central Bank of Brazil, when requested.

• The investment funds, through their administrators, must inform the total of their investments.

• The financing modality also includes commercial credit against residents or domiciled abroad.

Penalties

It is important to observe that the non-compliance with the rules subjects those responsible to fines in accordance with the following percentages, due to:

1. Register or file a statement after the deadline: 1% of the amount subject to registration or statement, limited to BRL 25,000.00. Filing from 1 to 30 days after the deadline, the fine will be reduced to 10% of that value. For a delay of 31 to 60 days, the fine will be reduced to 50%.

2. Providing incorrect or incomplete information: 2% of the amount subject to registration or statement, limited to BRL 50,000.00.

3. Do not register, do not file an statement or do not file the information supporting documents provided to Bacen:

5% of the amount subject to registration or statement, limited to BRL 125,000.00.

4. Providing false information in registration or statement: 10% of the amount subject to registration or statement, limited to BRL 250,000.00.

Note:

• For the occurrences 1, 2 and 3 above, the penalty may be increased in 50% if the responsible person does not provide, does not correct or does not complement the registration or statement when the Bank requests.

• The deadline to pay the penalty for filing the CBE statement after the deadline is five years, counting from the end of the regulatory deadline of each statement.