The new Foreign Exchange Framework has brought new rules on Periodic Quarterly Statements of Foreign Direct Investment, regulated by Resolution 278 of the Brazilian Central Bank (BCB). Although the new features of Resolution BCB 278 will only come into force in 2025, the BCB has defined a transitional regime for the base years 2022, 2023, and 2024, based on Resolution BCB 281.

Find out if your company needs to submit the Quarterly Periodic Statement of Foreign Direct Investment and how to do so:

Who needs to declare?

All recipients of foreign direct investment which, on the base dates of December 31st, 2023, March 31st, 2024, June 30th, 2024, and September 30th, 2024, holds total assets of BRL 300 million or more. (Article 38 of Resolution BCB 278; Article 6, §§ 3 e 5, Resolution BCB 281).

Deadlines for submission

Base Data Deadline Normative Ground
December 31st, 2023 01.01.2024 up to 03.31.2024 Article 6, § 4, Resolution BCB 281
March 31st, 2024 04.01.2024 up to 06.30.2024 Article 6, § 5, I, Resolution BCB 281
June 30th, 2024 07.01.2024 up to 09.30.2024 Article 6, § 5, II, Resolution BCB 281
September 30th, 2024 11.11.2024 up to 12.31.2024 Article 41, § 2, Resolution BCB 278

What to declare?

(i) corporate structure and identification of non-resident investors; (ii) the recipient’s book and economic value; (iii) the recipient’s operating and non-operating profit; and (iv) the recipient’s supplementary accounting data. (Article 37 of Resolution BCB 278).

How to declare?

The Quarterly Periodic Statement of Foreign Direct Investment must be submitted through the Foreign Capital Census System. The Declarant’s Manual and additional information on submission are available on BCB’s website.

Penalties and Information Safekeeping

Delay, failure to submit, or submission of incorrect, false, or incomplete information will subject the declaring legal entity to fines of up to BRL 250,000.00. Those responsible must keep supporting documentation for the information provided for five years, as of the base date of the respective declaration. (Article 66, Resolution BCB 131)

Our teams are available to clarify any doubt and provide support in submitting the Quarterly Periodic Statements to the Brazilian Central Bank.