The LatAm Thread

Countries › Brazil › Guide › 5. FX and capital controls › Exporters and importers: keeping export revenue abroad, ACC advances, export prepayments and paying for imports

Exporters and importers: keeping export revenue abroad, ACC advances, export prepayments and paying for imports

Argentina. For full detail on Argentina, go to The Argentine Thread.

Last verified: 2026-10-27 · Status: Stable

Brazilian exporters may keep their export revenue abroad and are not required to bring it home; revenue that is brought in and converted bears zero IOF. Banks can advance reais against future export FX (ACC), but cancelling the FX after an advance can cost a charge of up to 100 percent of the advance. Paying for imported goods is exempt from IOF, and overpricing imports to obtain FX can draw a fine of 5 to 100 percent of the operation.

USD figures use the Banco Central do Brasil PTAX selling rate of R$5.5007 per US dollar for 26 October 2026, the last rate published before verification. Conversions are for orientation only; the rate on the day of each FX contract will differ.

Key facts

Requirement to bring export proceeds into BrazilNone, may be kept abroad Lei nº 11.371 art. 1 as worded by Lei nº 14.286 art. 26, as of 2026-10-27 · in force
IOF on FX for export revenue brought into Brazil0 %Decreto nº 6.306 art. 15-B I, as of 2026-10-27 · in force
IOF on FX for payment of imported goodsExempt Decreto nº 6.306 art. 16 I, as of 2026-10-27 · in force
Maximum period between shipment and export FX settlement1500 daysResolução BCB nº 277 art. 38 § 4, as of 2026-10-27 · in force
Maximum Central Bank charge on cancelled FX backed by an advance100 % of advanceLei nº 14.286 art. 7, as of 2026-10-27 · in force
Fine for overpricing imports to obtain FX5 to 100 % of operationDecreto nº 23.258 art. 6 as worded by Lei nº 13.506, as of 2026-10-27 · in force
Banco Central do Brasil PTAX selling rate, reais per US dollar5.5007 BRLBanco Central do Brasil PTAX, as of 2026-10-26 · in force

The rule

1. Exporters of goods and services may keep export revenue abroad in foreign currency.
Cost to do it: No surrender requirement and no fee.Lei nº 11.371 of 28 November 2006, art. 1 as worded by Lei nº 14.286 art. 26, Lei 11.371 art. 1, 2021-12-29 official text · verified 2026-10-27
2. IOF on FX is zero on export revenue of goods and services brought into Brazil, and payments for imported goods are exempt.
Cost to do it: Zero IOF on export revenue inflows; exempt on import payments.Decreto nº 6.306, Art. 15-B I; art. 16 I, 2007-12-14 official text · verified 2026-10-27
3. Export FX may be settled up to 1,500 days after shipment or service; the shipment date is the date of the international transport document, or of customs clearance if that is unavailable.Resolução BCB nº 277, Art. 38 §§ 4 and 5, 2022-12-31 official text · verified 2026-10-27
4. A bank may advance reais against foreign currency bought for future delivery (ACC), at any time agreed. On export FX the advance must be noted in the contract for purposes of art. 75 of Lei nº 4.728, which protects the bank's claim.Resolução BCB nº 277, Arts. 36 and 37, 2022-12-31 official text · verified 2026-10-27
5. Cancelling or reducing an FX position tied to contracts that supported an advance in reais makes the seller of the foreign currency liable to a Central Bank charge of up to 100 percent of the advance, collected through the buying institution. After notice, the seller has 15 days to contest and 30 days to pay; late payment adds interest and a fine and leads to registration in the federal debtor list.
Example: An exporter that took an ACC of US$500,000 (R$2,750,350) and cancels the FX can be charged up to the full advance. / Up to US$500,000 on a US$500,000 advance.Lei nº 14.286 art. 7; Resolução BCB nº 277, Lei 14.286 art. 7; Res. 277 art. 42, 2021-12-29 official text · verified 2026-10-27
6. Export prepayments may come from the importer, a non financial company abroad or a foreign financial institution and are repaid with exports of the debtor or its group; if the export does not happen, the funds may return abroad or be converted into direct investment or a direct loan. Prepayments over 360 days of US$1,000,000 or more go into SCE-Crédito.Resolução BCB nº 278, Arts. 12, 13 and 23 III, 2022-12-31 official text · verified 2026-10-27
7. For an advance received for a deal that does not go ahead, the amount may be returned abroad within 360 days or, with the foreign payer's prior consent, converted to another purpose. For an advance payment abroad that does not go ahead, the buyer of the currency must bring the funds back.Resolução BCB nº 277, Art. 21, 2022-12-31 official text · verified 2026-10-27
8. Raising the price of imported goods to obtain improper FX cover is an infraction punished by a fine of 5 to 100 percent of the operation's value.
Example: On a US$1,000,000 overpriced import, a fine of R$275,035 to R$5,500,700. / US$50,000 to US$1,000,000.Decreto nº 23.258 of 1933, arts. 3 and 6, as worded by Lei nº 11.371/2006 and Lei nº 13.506/2017 art. 41, Arts. 3 and 6, 2017-11-13 official text · verified 2026-10-27
9. From 1 October 2026 exporters of goods may hold foreign currency accounts in Brazil credited only with export revenue and other funds from abroad.Resolução BCB nº 277, arts. 70 XII and 75-A, inserted by Resolução BCB nº 575 of 18 June 2026, Arts. 70 XII and 75-A, 2026-06-18 official text · verified 2026-10-27 · changed: New option from 1 October 2026.
10. Foreign currency payment is valid for foreign trade contracts for goods and services, their financing and guarantees, for indirect exports, and for contracts between exporters and infrastructure concessionaires, among other listed cases.Lei nº 14.286, Art. 13, items I, VI and VII, 2021-12-29 official text · verified 2026-10-27

Worked example

  • An exporter ships US$1,000,000 of goods. It may keep the receipts in a bank abroad or, from October 2026, in a dollar account in Brazil (Lei nº 11.371 art. 1; Resolução BCB nº 277 art. 75-A). When it converts US$400,000 into reais (R$2,200,280) to pay payroll, the FX bears zero IOF (Decreto nº 6.306 art. 15-B I). If it had financed itself with an ACC and then cancelled the FX, it could face a charge of up to 100 percent of the advance (Lei nº 14.286 art. 7).

Step by step

  1. 1. Decide where to hold export receipts: abroad, in a Brazilian dollar account, or converted at once (Lei nº 11.371 art. 1; Resolução BCB nº 277 art. 75-A).
  2. 2. If financing with an ACC, make sure the export will happen; cancelling the FX can trigger the charge of up to 100 percent (Lei nº 14.286 art. 7).
  3. 3. Settle export FX within 1,500 days of shipment (Resolução BCB nº 277 art. 38 § 4).
  4. 4. Report export prepayments over 360 days of US$1,000,000 or more in SCE-Crédito (Resolução BCB nº 278 art. 23 III).
  5. 5. Pay imports through an FX contract classified as import payment; IOF is exempt (Decreto nº 6.306 art. 16 I).

Common traps

  • Cancelling an ACC backed FX contract lightly. The Central Bank charge can reach the full advance (Lei nº 14.286 art. 7).
  • Leaving unused advance receipts in limbo. Advances for deals that fail may be returned within 360 days or converted only with the payer's consent (Resolução BCB nº 277 art. 21).
  • Transfer pricing by invoice. Overpricing imports to get FX is a fineable infraction of 5 to 100 percent (Decreto nº 23.258 arts. 3 and 6).
  • Brazil and Argentina trade. Brazil's side runs on free FX; payments to or from Argentina follow Argentina's own FX rules, so align terms with the Argentine counterparty (see The Argentine Thread guide).

Sources

Related pages

Related: Brazil country profile · live dashboard · central bank and release calendar · our posts on X · where Argentina is involved, see The Argentine Thread guide

← Foreign currency accounts in Brazil: who may hold dollars onshore from October 2026 and what they can be used forPortfolio investment by non residents: investing in Brazilian stocks, bonds and funds under Joint Resolution 13 →