Mandatory for individuals and legal entities resident, domiciled or headquartered in Brazil holding assets and/or rights located in a foreign country in amounts exceeding US$100.000,00 (one hundred thousand United States dollars) on the reference date of December 31, 2016, the Annual Declaration of Brazilian Capital Abroad (“CBE”) must be submitted to the Central Bank of Brazil by all those who meet the legal requirements by 18:00 pm (Brasília time) on April 05, 2017.
Additionally, Brazilian individuals and companies holding assets and/or rights located abroad in amounts greater than US$100.000.000,00 (one hundred million United States dollars) must present quarterly CBEs, without prejudice to the annual CBE, within the following schedule:
- the first quarterly declaration for the base date of March 31, 2017, must be submitted by June 05, 2017;
- the second quarterly declaration for the base date of June 30, 2017, must be submitted by September 05, 2017; and
- the third quarterly declaration for the base date of September 30, 2017, must be submitted by December 05, 2017.
Those responsible for providing information must keep, for a period of five years from the base date of the declaration, the documentation supporting the information provided, for presentation to the Central Bank of Brazil, when requested.
Failure to comply with the rules relating to the CBE will subject those responsible to fines, applied by the Central Bank of Brazil, in accordance with the relevant resolutions.
