March 2022 – Brazil – Rossetti Advogados

Every year, companies with member(s) resident outside Brazil or with investment abroad must submit some statements to the Central Bank of Brazil (BACEN), by means of the Electronic Statement Registration system (RDE-IED).

These statements are focused on the amounts invested in Brazil by non-residents, as well as on amounts remitted abroad by Brazilians (individuals and/or legal entities)

Some of these statements must be filed from time to time, within the terms stipulated by the BACEN. Others are occasional, due only upon occurrence of a specific fact.

Below we list some of these Statements:

Economic and Financial Statement– DEF

Frequency	Applicability	Base Date	Term
Annually	Companies that have, among their members, non-resident investors, in any amount.	12/31/2021	03/31/2022
Quarterly	Companies that have, among their members, non-resident investors and an amount of assets in Brazil and/or shareholders’ equity equal to or in excess of R$250,000,000.00.	03/31/2022 06/30/2022 09/30/2022	06/30/2022 09/30/2022 12/31/2022

Statement of Brazilian Capital Abroad – CBE

Frequency	Applicability	Base Date	Term
Annually	Individuals or Legal Entities resident, domiciled, or headquartered in Brazil and which hold assetsabroad in an amount equal to or in excess of US$1,000,000.00.	12/31/2021	04/05/2022
Quarterly	Companies that have, among their members, non-resident investors and an amount of assets in Brazil and/or shareholders’ equity equal to or in excess of R$250,000.00.	03/31/2022 06/30/2022 09/30/2022	06/05/2022 09/05/2022 12/05/2022

Census of Foreign Capital in Brazil – CENSUS

Frequency	Applicability	Base Date	Term
Annually	Legal Entities headquartered in Brazil and which have as their direct members non-resident persons, in any amount and with Shareholders’ Equity equal to or in excess of the equivalent in Reais to US$100 million on the base date;orTotal outstanding balance of short-term commercial credits (enforceable within 360 days) granted by non-residents equal to or in excess of the equivalent in Reais to US$10 million on the base date.	12/31/2021	08/15/2022
Every 5 Years	Legal Entities headquartered in Brazil and which have as direct members persons that are non-residents, in any amount on the base date;OrTotal outstanding balance of short-term commercial credits (enforceable within 360 days) granted by non-residents equal to or in excess of the equivalent in Reais to US$1 million on the base date.	12/31/2025	08/15/2026

Failure to provide any of the statements above or, furthermore, the submission of false, incomplete, incorrect, or untimely information shall subject the declarant to the payment of a fine in accordance with the provisions of art. 66 of BCB Resolution No. 131 of August 20, 2021, as follows:

• To make a registration or file a statement in noncompliance with the respective terms: one percent (1%) of the amount subject to registration or statement, limited to R$25,000.00.
• To provide incorrect or incomplete information: two percent (2%) of the amount subject to registration or statement, limited to R$50,000.00.
• Not to make registration, not to file a statement, or not to present documents proving the information provided to the Central Bank of Brazil: five percent (5%) of the amount subject to registration or statement, limited to R$125,000.00.
• To provide false information in registration or statement: ten percent (10%) of the amount subject to registration or statement, limited to R$250,000.00.

Said fine shall be reduced in the following situations:

• Delay from one to thirty days, in which case it shall correspond to 10% of the respective amount; or
• Delay from thirty-one to sixty days, in which case it shall correspond to 50% of the respective amount.

For more information on the above or in other matters, please contact Maristela SA Rossetti (mar@rraa.com.br) or Gilberto Rossetti (gmr@rraa.com.br). This article is based on publicly available information and given for informational purposes only. It is not intended as legal advice or as a comprehensive analysis of the matters referred to herein.

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