The quarterly financial report (“Quarterly Report”) is applicable to Legal Entities headquartered in Brazil, whose shares are directly owned, in whole or in part, by non-resident investors (“Receiving Companies“), being required by the Brazilian Central Bank (“BCB”).
The upcoming Quarterly Report, whose submission deadline is December 31st, is applicable to Receiving Companies that held, on September 30th, total assets in amounts equal to or greater than R$300,000,000.00.
Failure to submit the Quarterly Report, as well as its delivery after the deadline or with misinformation, may result in fines of up to R$500,000.00 by BCB, which may be increased in specific cases.