The submission of the Mandatory Annual Statement to the Central Bank of Brazil is required for all Brazilian companies that have an investor (person or legal entity) domiciled or headquartered abroad.

Companies with Shareholders’ Equity and Assets below R$ 250,000,000.00 (two hundred and fifty million reais) must, annually, until March 31, update their accounting and corporate information for the date of December 31 of the previous year.

On the other hand, companies receiving foreign direct investment with equity in excess of R$ 250,000,000.00 (two hundred and fifty million reais) must deliver the Economic and Financial Statement quarterly according to the calendar below

• Until March 31, referring to the base date of December 31 of the previous year;
• Until June 30, referring to the base date of March 31;
• Until September 30, referring to the base date of June 30;
• Until December 31, for the base date of September 30.

We would like to emphasize that the art. 36 from Law no. 13.506/2017 and BACEN’s “Circular letters” no. 3.857/2017 and no. 3.910/2018 establish the discretion for the applicable fines that can reach up to BRL 250,000.00 (two hundred and fifty thousand reais) in the event that reports are made incorrectly, incomplete, undelivered or untimely information.