By Apr. 5, 2021, must be filed with the Central Bank of Brazil (BACEN) of the Declaration of Brazilian Capitals Abroad (DCBE) related to the base date of Dec. 31, 2020.
The DCBE is a declaration of values of any nature held outside the country by residents in Brazil, including, financial instruments, cash in foreign currencies, deposits, real estate, interests in companies, stocks, bonds, commercial credits, etc.
The DCBE is mandatory for both individuals and legal entities resident, domiciled or headquartered in the country, who hold assets abroad that total at least:
• US$ 1 million as of Dec. 31
• US$ 100 million as of Mar.31, Jun. 30 and Sept. 30.
The deadlines for the filing of the quarterly DCBE are:
• Base date Dec.31: from Feb. 15 to Apr. 5 of the following year;
• Base date Mar. 31: from Apr. 30 to Jun. 5 of the same year;
• Base date Jun. 30: from Jul. 31 to Sept. 5 of the same year;
• Base date Sept. 30: from Oct. 31 to Dec. 5 of the same year.
Delay or failure to file the DCBE, as well as delivery with false or incomplete information, may result in fines.
Franco Advogados is available to provide any information on the subject.
By Renata Pisaneschi and Gabriela Camargo