The quarterly 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 on September 30th, is applicable to Receiving Companies that held, on June 30th, total assets in amounts equal to or greater than R$300,000,000.00 (three hundred million Reais).
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 (five hundred thousand reais) by BCB, which may be increased in specific cases.