Understand the main obligations on the provision of information to Bacen in 2022

Some individual and corporate taxpayers are mandated to provide information to the Central Bank of Brazil (Banco Central do Brasil, or Bacen) regarding investments detained abroad or foreign investments directly received. Check the main obligations and deadlines in 2022 below:

Brazilian Foreign Capital – (Capitais Brasileiros no Exterior, or CBE) 2022

CBE is mandatory for individual or corporate taxpayers who are residing, domiciled or have their headquarters in the country, and, also, have assets abroad that total:

Annual CBE	USD 1 million, or the equivalent in other currencies, on December 31 of each base year.
Quarterly CBE	USD 100 million, or the equivalent in other currencies, on March 31, June 30, and September 30 of each base year.

These values may be property assets, rights, financial instruments, cash and cash equivalents in foreign currencies, deposits, real estate, ownerships interests, stocks, negotiable instrument, trade credits, etc.

Deadline for the CBE submission

Statement	Base Date	Deadline
Annual CBE	12/31	From 02/15 at 6 PM to 04/05 of the following year
Quarterly CBE	03/31	From 04/30 to 6 PM of 06/05 of the same year*
	06/30	From 07/31 to 6 PM of 09/05 of the same year
	09/30	From 10/31 to 6 PM of 12/05 of the same year

* In 2022, this submission may be done up to 06/06, the business day immediately after 06/05, which is a Sunday.

Economic-Financial Statement (Declarações Econômico-Financeiras, or DEF) 2022

Companies receiving foreign direct investment, with assets or net equity equal to or greater than BRL 250 million, have, amongst their obligations, the quarterly submission of the Economic-Financial Statement to Bacen.

DEF is made of information regarding the owner’s capital stock, equity, assets and liabilities, and cash flow assessed every trimester.

Deadline for the DEF submission

DEF must be done in reference to the base dates: March 31, June 30, September 30, and December 31. The deadline for filling out the statement is up to 90 days after every base date.

Base date	Deadline
03/31	06/30
06/30	09/30
09/30	12/31
31/12	March 31 of the following year

Corporate Events

Companies with equities and assets of less than BRL 250 million must, annually, up to March 31, include a corporate structure chart, updated to December 31 of the previous year.

In case it coincides with a day in which Bacen is not active, the final term of the fixed deadline will be extended to the first subsequent business day.

Statement of Foreign Capital Census in Brazil 2022

The Annual Census refers to the base dates of years whose final numbers are not 0, nor 5. It is mandatory for:

• Corporate taxpayers headquartered in the country, with direct participation of non-residents in its capital share, by any amount, and with net equity equal to or greater than USD 100 million on the base date 12/31 of the base year;
• Investments trusts with non-resident shareholders and net equity equal to or greater than USD 100 million, on the base date 12/31 of the base year, through its administrators; and
• Corporate taxpayers headquartered in the country with debit balance of current (payable in up to 360 days) trade credit provided by non-residents in amount equal to or greater than USD 10 million on the base date 12/31 of that base year.

The following are exempted from the statement submission: individual taxpayers; Direct Administration bodies on any level (federal, state, municipal, and Federal District); corporate taxpayers who are debtors of external credit pass-alongs granted by institutions based in the country; and nonprofit entities maintained by non-residents’ contributions.

Deadline for the Annual Census submission

The Annual Census statement regular deadline is from July 1 to August 15 of the following year at 6 PM.

TheQuinquennial Census, which only refers to base dates of years whose last number is either a 0 or a 5, will not be required in 2022.

Attention to penalties

In any case, the absence of statement, statements presented after the legal deadline, or the provision of incomplete or false information may lead to the imposition of fines by Bacen.

Support to maintain compliance with Bacen

Domingues e Pinho Contadores has specialists dedicated to guiding clients, both individual and corporate taxpayers, regarding the information with which they must provide the Central Bank. Be safe and at ease when it comes to capital statements throughout 2022. Count on specialized support: dpc@dpc.com.br

Get to know more about Bacen services here.