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The Brazilian Internal Revenue Service has extended until June 26, 2019 the time limit for domestic or foreign companies to update their boards of directors and directors to inform them of the existence final beneficiaries.
Published in this issue of Friday / 12) of the Federal Law Gazette, normative instruction n ° 1 863/2018 of the federal tax authorities, cancels the normative instruction 1634/2016 concerning the new regulation of the national register of legal persons ( CNPJ)
among the changes made to the new regulation is Article 53 which provides that "existing entities prior to the date of publication of the normative instruction who are required to inform their final beneficiaries shall do so within 180 days from the date of publication ", that is, until June 26, 19659002 Thus, all entities registered with the CNPJ, whether national or foreign , must, no later than June 26, 2019, inform their channel.
If they do not do so, their CNPJs may be suspended and prevented from performing banking transactions, particularly with respect to account processing, financial investments and obtaining loans .
The update can be done in any unit of the Internal Revenue Service, by prior appointment and presentation of the basic registration document accompanied by the documentation.
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