PERIODICAL STATEMENTS 2023 – BRAZILIAN CENTRAL BANK
Pursuant to Law No. 14,286 of December 29, 2021, and Resolutions Nos. 278 and 281 of December 31, 2022, issued by the Brazilian Central Bank (“BCB”), Brazilian entities with direct equity interest of non-residents in their capital stock must provide certain periodical statements to the BCB through the submission of the Financial and Economic Statement (“DEF”). Accordingly, companies that:
- Have assets in an amount equal to or greater than BRL 100,000,000.00 must file the annual DEF until March 31 of each year, regarding the base date of December 31 of the preceding year.
Specifically with regards to the annual statement related to the base date of December 31, 2022, BCB has established that the annual statement must be submitted by the companies that have net equity in an amount equal to or greater than USD 100.000.000,00 until August 15, 2023, through the BCB’s Foreign Capital Census system.
- Have assets in an amount equal to or greater than BRL 300,000,000.00 must submit the DEF quarterly, in accordance with the following calendar:
- Especially regarding the base date of December 31, 2022, the DEF must be submitted by March 31, 2023;
- Regarding the base date of March 31, the DEF must be submitted by June 30 of the same year;
- Regarding the base date of June 30, the DEF must be submitted by September 30 of the same year; and
- Regarding the base date of September 30, the DEF must be submitted by December 31 of the same year.
Specifically, regarding the base date of December 31, the DEF must be submitted by March 31 of the subsequent year by means of the annual statement.
The submission of false, inaccurate, incomplete, or delayed information or the actual failure to submit the annual or quarterly statement subjects the Brazilian entity to the imposition of fines by the BCB, according to the applicable rules.
We are at your disposal to assist in the submission of the periodical statements, annual or quarterly, as the case may be, and to provide any further clarification you may need.
Camila Caetano
Carolina Sant’Angelo
carolina.santangelo@cmalaw.com
Fabiano Gallo
Mirella Kaufman
Miriam Machado
Oduvaldo Lara
Rafaella Chiachio
Renata Amorim
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