Under the provisions of Circular No. 3,689/2013 and amendments, Brazilian companies receiving foreign direct investment, with assets or net worth equal to or greater than BRL 250 million, must complete the Economic-Financial Statement (“DEF”) every quarter in the electronic system of the Brazilian Central Bank (“BACEN”).

For the other companies with total assets or net worth below BRL 250 million, it is mandatory to update the Corporate Chart referring to the base date of December 31st of the previous year until March 31st.

The deadline for filling out the quarterly DEF is ninety days from each base date, which are 03/31, 06/30, 09/30, and 12/31.

Thus, the filing deadline for the 3rd quarter, with a base date of 09/30/2022, ends on January 2, 2023.

Failure to provide the required information, or the provision of false, incomplete, incorrect information or data outside the deadlines and conditions outlined in the regulations in force may result in fines of up to BRL 250,000.00.

The teams at Fraga, Bekierman & Cristiano Advogados are prepared to assist you and provide the necessary help to prepare the declaration.