Deadline changed for submission of Quarterly Economic and Financial Statement with the Central Bank: Base Date – September 30, 2022

Considering that Law No. 14,286 will come into force on December 31, 2022, the Central Bank of Brazil has changed the deadline for submission of the Quarterly Economic and Financial Statement for the base date of September 30, 2022, to December 30, 2022 (and not January 02, 2023, as initially published by the Central Bank).

Brazilian entities that receive foreign direct investment in any amount, and whose net equity and/or total assets amount to BRL 250 million or higher, must submit to the Central Bank of Brazil, by December 30, 2022, their economic and financial statements (declarações econômico-financeiras) for the base date of September 30, 2022.

This submission is part of the obligations applicable to entities that receive foreign direct investment under the conditions mentioned above, and failure or delay to comply with it can trigger the application of penalties by the Central Bank.

Demarest’s Banking and Finance team is available to provide any further clarifications that may be necessary and assist you in complying with this obligation.