Brazilian Central Bank’s annual declaration of Brazilian Capital abroad

Mandatory for individuals and legal entities resident, domiciled or with head-offices in Brazil holding assets and/or rights in a foreign country totaling an amount equivalent or superior to US$ 100,000.00 (one hundred thousand US dollars) on the reference date of December 31^st, 2015, the Annual Declaration of Brazilian Capital Abroad (“CBE”) must be filed with the Brazilian Central Bank by those who meet the legal requirements until 6pm (Brasilia time) on April 6^th, 2016.
Additionally, Brazilian individuals and companies holding more than US$ 100,000,000.00 (one hundred million US dollars) in foreign assets will have to file quarterly CBEs, without prejudice of the annual CBE, in accordance with the following filing schedule:

(i). The first-quarter CBE, related to the reference date of March 31^st, 2016, must be filed by June 3^rd, 2016;

(ii). The second-quarter CBE, related to the reference date of June 30^th, 2016, must be filed by September 5^th, 2016; and

(iii). The third-quarter CBE, related to the reference date of September 30^th, 2016, must be filed by December 5^th, 2016.
All supporting documentation concerning the submitted CBE must be kept by the person responsible for the CBE for a period of five (05) years, readily available to be presented to the Brazilian Central Bank if so requested.

Failure to submit the CBE or submitting incomplete or incorrect declarations will result in the imposition of penalties by the Brazilian Central Bank, in accordance with and in the amount provided by the CBE regulations.