Circular of the Central Bank of Brazil no. 3.624 was published on February 6, 2013, establishing the filing term for the Statement of Brazilian Capital Abroad ("DCBE") relative to the base dates of December 31, March 31, June 30, and September 30 of each year.
Unlike the previous years, this Circular set a fixed schedule for the filing of the Statements, which is to be maintained for the next years:
i. the annual statement related to the base date of December 31 must be filed in the period between February 15 and 6:00 PM of April 5 of the following year;
ii. the quarterly statement related to the base date of March 31, in the period between April 30 and 6:00 PM of June 5 of each year;
iii. the quarterly statement related to the base date of June 30, in the period between July 31 of 2012 and 6:00 PM of September 5 of each year; and
iv. the quarterly statement related to the base date of September 30, in the period between October 31 and 6:00 PM of December 5 of each year.
In case the date of start or end of the period coincides with a day the Central Bank of Brazil is not open, it will be automatically postponed to the first following business day.
Residents in the country who held assets abroad in an amount equal or superior to US$ 100,000.00 (one hundred thousand US Dollars) on December 31 of the previous year are required to file the Annual Statement, while residents in the country holding assets abroad of at least US$ 100,000,000.00 (one hundred million US Dollars) on the mentioned dates are required to file Quarterly Statements.
We point out that individuals and legal entities are required to file the Annual Statement, notwithstanding the Quarterly Statements to be filed in the periods stated above.
The statements are to be filed online through the DCBE form available on the Central Bank of Brazil's homepage at: http://www.bcb.gov.br/?CBE.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.