Questions and Answers

Who is obliged to submit the annual declaration to the Central Bank of Brazil? Individuals or legal entities resident or domiciled in Brazil that, on December 31st, 2020, had assets (goods or rights) located overseas in the aggregate amount equal to or higher than US$ 1,000,000.00 (one million U.S. dollars), or equivalent in other currencies.

What is the deadline for submitting the annual declaration this year? From February 15th, 2021, to April 5th, 2021, at 6:00 pm.

Who is obliged to submit, in addition to the annual declaration, the quarterly declarations? Individuals or legal entities resident or domiciled in Brazil with assets located overseas in the aggregate amount equal to or higher than US$ 100,000,000.00 (one hundred million U.S. dollars), or equivalent in other currencies.

What is the schedule for the submission of quarterly declarations this year?

What are the penalties related to the declarations? The absence or delay in submitting the declarations, or the provision of false or incorrect information, may subject the infringer to the imposition of a fine by the Central Bank of Brazil.

Sperling Advogados is at your disposal to assist you in the measures required for the submission of the declarations to the Central Bank.