A Reminder to File the Central Bank Declaration

It’s time again to file the yearly CBE (Capitais Brasileiros no Exterior) declaration with the Brazilian Central Bank. The declaration relates to foreign assets held abroad by Brazilian residents. 2024 filings began on February 15 with the deadline falling on April 5 at 6:00pm Brasilia time.

If you were deemed a resident of Brazil for tax purposes at the end of 2023 and had assets abroad worth at least US$1 million, you must file a CBE declaration with the Brazilian Central Bank. The same is true for Brazilian companies that own foreign assets.

Filing is straightforward and is done 100% online. On the Central Bank’s website, you’ll start by entering your CPF number and then you’ll list your investments and their respective values. Assets include publicly traded shares, checking accounts, membership interests in legal entities, and real estate properties.

If you fail to comply be either not filing on time or not filing at all, you’ll be subject to fines that can reach up to BRL$250,000 (approximately US$50,000). So you’d be wise to submit the CBE declaration before the deadline, even if you’re waiting for information about your investments. The Central Bank accepts revised declarations as long as the original filing was timely.

This is also a good time to review your residency status and financial statements. If in doubt about whether you must file, click HERE and then on “Avalie a obrigatoriedade de declarar CBE” for help from a Q&A provided by the Brazilian Central Bank.