Central Bank Declaration: 2022

It’s that time of the year again. If you reside in Brazil but have assets outside the country, you may need to file a declaration with the Central Bank. And if you don’t do it by the deadline, expect to get hit with fines.

Each year, anyone who is a resident in Brazil and had assets outside Brazil on December 31 valuing at least US$1,000,000 must file the declaration Capitais Brasileiros no Exterior (or CBE) with the Brazilian Central Bank.

This year, the countdown starts today with the filing deadline on April 5 at 6pm.

You can file your declaration via the Central Bank’s website. To get started, you’ll need to provide your CPF as well as details about your investments, such as the type and value of each asset.

The penalties for missing the filing deadline are steep, so watch your calendar carefully. The fines for not filing or submitting incorrect information reach BRL$250,000. That’s more than US$48,000 using today’s exchange rate.

Remember that the declaration applies to non-Brazilians as well as Brazilians. You simply need to be a resident in Brazil. And, of course, you’ll have to have hit the US$1,000,000 financial target at the conclusion of 2021.

Check your residency status and finances to see if you’re clear or not. You still have time as the filing period has just started although you’d be wise to do it quickly. It’s straightforward to file, but failure to do so could mean trouble.