Brazil: Updated FATCA guidance | KPMG | US

Brazil: Updated FATCA guidance

Brazil: Updated FATCA guidance

The Brazilian revenue service released a new version of the FATCA reporting guidance (e-Financeira manual version 1.0.3 (25 May 2016)).


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The new version of the FATCA reporting guidance includes the following changes: 

  • “Nil reporting” is not required for reporting periods when there were no financial transactions to be reported.
  • There are revisions in the fields “reportable/abroad” and “country” in a closing event.
  • There are clarifications on the filing deadlines in instances of corporate reorganization—if the reorganization event occurs in the first half of the year, the e-Financeira is to be file by the last business day of August and if the reorganization occurs in the second half, by the last business day of February of next calendar year.
  • There are guidelines regarding identifying the person who owns, or is considered as owning, 10% or more of the total combined voting power of all classes of stock entitled to vote of those legal entities considered to be “passive” under FATCA rules. According to the new version of the e-Financeira manual, this information will only be required from calendar year 2017.


Read the new guidance (Portuguese) [PDF 2.99 MB] issued by the revenue service

Read a June 2016 report [PDF 67 KB] prepared by the KPMG member firm in Brazil


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