The quarterly report (Quarterly Report) is applicable to Legal Entities headquartered in Brazil, whose shares are directly owned by non-resident investors (Receiving Companies), being required by the Brazilian Central Bank (BCB).
The upcoming Quarterly Report, with a nearing submission deadline, applies to Receiving Companies that, on the respective base date, held total assets equal to or exceeding R$300,000,000.00 (three hundred million Reais).
The Quarterly Report must be submitted with reference to the base dates December 31st of the previous year (transitional provision given by BCB Resolution No. 348/2023), March 31st, June 30th and September 30th, within 90 days after each base date.
Failure to submit the 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.