13 July 2015
Normative Ruling RFB No. 1,571/2015, which institutes the Electronic Financial Return, the so-called “e-Financeira”, was published on July 3rd, 2015.
The e-Financeira is a statement, transmitted electronically to the Public Digital Bookkeeping System (“SPED”), compulsory for insurance companies and legal entities with activities relating to (i) structuring and selling private pension plans, (ii) creating and managing Pension Funds and (iii) raising, intermediating or investing third party or proprietary funds, including purchase consortium transactions or custody of third party moneys.
The e-Financeira is compulsory in relation to triggering events occurring after January 1st, 2015, and taxpayers are exempted from filing a Statement of Information on Financial Transactions (“DIMOF”) relating to triggering events occurring after January 1st, 2016. The deadline for filing an e-Financeira relating to the calendar year of 2015 is the last business day of May, 2016.In addition, it is important to highlight that Normative Ruling 1,571/2015 provides that legal entities listed in the Agreement signed between Brazil and the United States of America in order to permit the exchange of information and the enforcement of the FATCA (Foreign Account Tax Compliance Act) have to file by August 15, 2015, an e-Financeira in relation to triggering events that occurred between July and December, 2014.