The deadline to file of the Statement of Brazilian Capital Abroad (CBE) for first quarter started

The individuals and legal entities resident, domiciled or domiciled in Brazil, holding assets and rights against non-residents, including real estate, cash in foreign currency, among other assets whose value sum amount not less than the USD 100,000,000.00 or equivalent in other currencies, on March 31, June 30 and September 30 base dates of each year must pay attention to the requirement to submit the Quarterly Statement of Brazilian Capitals Abroad (CBE).

2018 CBE 1st quarter deadline

The period to file the statement shall be from April 30 to June 6, 2018 for the amounts referring to the quarter ended March 31, 2018.

What you should report

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

• deposit;
• currency loan;
• financing;
• financial leasing;
• direct investment;
• portfolio investment;
• investment in derivative financial instruments;
• other investments, including real estate and other assets.
 

Note:

• Those responsible for providing information pursuant to this Resolution must keep the supporting documents, for a five years period, from the statement base date, to present to the Brazil’s Central Bank, when requested.
• The investment funds should report their investments total, through their administrators.
• The financing modality also includes commercial credit against residents or domiciled abroad.

Penalties

Failure to comply with the standards subjects those responsible to fines in accordance with the percentages below, due to the following occurrences:

• Register or file a statement after the deadline: 1% of the amount subject to registration or statement, limited to BRL 25,000.00. For 1 to 30 days after deadline, the penalty shall be calculated on 10% of calculated value. For 31 to 60 days after deadline, the penalty shall be calculated on 50% of calculated value.
• Provide inaccurate or incomplete information: 2% of the amount subject to registration or statement, limited to BRL 50,000.00.
• Not registering, not filing the statement or not presenting the support documents to the information reported to Bacen: 5% of the amount subject to registration or statement, limited to BRL 125,000.00.
• Providing false information in registration or statement: 10% of the amount subject to registration or statement, limited to BRL 250,000.00.

Note:

• For occurrences 1, 2 and 3 above, the penalty may be increased by 50% if the responsible person does not, does not correct, or does not complement the registration or statement when requested by the Bank.
• The deadline to pay the penalty for the CBE statement late is five years from the end of the regulatory period of each statement.