New term: CBE of the 1st quarter should be presented between June 15th and July 15th

In view of the difficulties imposed by the coronavirus pandemic, as well as with its annual version, the Declaration of Brazilian Capitals Abroad (CBE) for the 1st quarter also had its deadline postponed.

The quarterly statement, based on March 31, which had a delivery deadline set for June 5, can now be delivered between June 15 and July 15.

Obligatoriness

Quarterly CBE is mandatory for individuals and legal entities resident, domiciled or headquartered in the country, who hold assets (assets and rights) against non-residents, including real estate, deposits, cash in foreign currency, among other assets, whose total values total an amount equal to or greater than US$100,000,000.00 (one hundred million American dollars) or equivalent in other currencies, on the base dates of March 31, June 30 and September 30 of each year.

The quarterly CBE of assets and rights abroad comprises information related to the following modalities:

I - deposit;

II - currency loan;

III - financing;

IV - financial leasing;

V - direct investment;

VI - portfolio investment;

VII - investment in derivative financial instruments;

VIII - other investments, including real estate and other assets.

Penalties

Non-compliance with the obligation subjects those responsible to fines according to the percentages set out below, due to the following occurrences:

1. To register or submit a statement after the deadline: 1% (one percent) of the amount subject to registration or declaration, limited to R$25.000,00 (twenty-five thousand reais).

2. For delays from 1 to 30 days, the fine will be reduced to 10% of that amount. For a delay of 31 to 60 days, the fine will be reduced to 50%.

3. Provide incorrect or incomplete information: 2% (two percent) of the amount subject to registration or declaration, limited to R$50.000,00 (fifty thousand reais).

4. Do not register, do not submit a declaration or do not present supporting documentation for the information provided to Bacen: 5% (five percent) of the amount subject to registration or declaration, limited to R$125.000,00 (one hundred and twenty-five thousand reais).

Provision of false information in registration or declaration: 10% (ten percent) of the amount subject to registration or declaration, limited to R$250.000,00 (two hundred and fifty thousand reais).

Legal base

Decree-Law No. 1,060 / 1969, Resolution of the National Monetary Council (CMN) No. 3,854 / 2010, Circular BC No. 3,624 / 2013 with amendments to Circular No. 3,830 / 2017.