Central Bank of Brazil extends deadline for the Declaration of Brazilian Capital Abroad

In view of the impacts caused by Covid-19 pandemic, the Central Bank of Brazil extended the deadline for the presentation of the Declaration of Brazilian Capitals Abroad (CBE), according to Circular 3995, of March 24, 2020.

The deadline for the presentation of the Annual Declaration of Brazilian Capital Abroad was extended from April 5, 2020 to June 1, 2020, until 6:00 PM. The Annual Declaration of Brazilian Capital Abroad is mandatory to all individuals and legal entities that held assets and funds abroad in an amount equal to or higher than USD 100 thousands, or the equivalent amount in another currency on the base date of December 31, 2019.

In the case of the Quarterly Declaration of Brazilian Capital Abroad, referring to the base date of March 31, 2020 and mandatory to all individuals and legal entities holding assets and funds abroad in an amount equal to or higher than USD 100 million, or the equivalent amount in another currency, the deadline was also extended. The  declaration shall be presented during the period from June 15, 2020 to July 15, 2020 (until 6:00 PM).

The rules related to the information that shall be provided and the fines applicable in case of failure to provide information or in case of false, incomplete or incorrect information remain unchanged.

Click here to access our newsletter that contains detailed information about CBE.

Araújo e Policastro team is at your disposal for any further clarification about this matter and to assist in the necessary measures before the Central Bank of Brazil.