Normative Instruction BCB No. 541 — Amends Normative Instruction BCB No. 431 of December 1, 2023, to define accounting items for the Creditor Result group of the Chart of Accounts of the Accounting Standard of Institutions Regulated by the Central Bank of Brazil (Cosif)

BCB NORMATIVE INSTRUCTION NO. 541, OF NOVEMBER 5, 2024

Amends BCB Normative Instruction No. 431, of December 1, 2023, which defines the accounting items of the Creditor Result group of the chart of accounts of the Accounting Standard of Institutions Regulated by the Central Bank of Brazil (Cosif) for use by financial institutions and other institutions authorized to operate by the Central Bank of Brazil.

The Head of the Financial System Regulation Department (Denor), in the exercise of the authority conferred by Art. 23, item I, letter "a", of the Internal Regulations of the Central Bank of Brazil, annexed to BCB Resolution No. 340, of September 21, 2023, based on Arts. 12 of CMN Resolution No. 4,858, of October 23, 2020, and 10 of BCB Resolution No. 92, of May 6, 2021,

R E S O L V E S:

Art. 1. The following accounting items are included in Annex I of BCB Normative Instruction No. 431, of December 1, 2023, published in the Official Gazette of the Union on December 14, 2023, observing the order of the "Account Code" column:

Account Code	Account Name	Estban	Function
7.1.7.75.10.00-0	Insurance	-	-
7.1.7.75.20.00-7	Pension	-	-
7.1.7.75.30.00-4	Capitalization	-	-
7.1.9.35.00.00-1	INCOME FROM TRANSFER PRICING ADJUSTMENTS	711	Record the positive results arising from the observation of current legislation that provides for transfer pricing rules, for which there is no more specific item.

Art. 2. The following accounting items in Annex I of BCB Normative Instruction No. 431, of 2023, are amended:

Account Code	Account Name	Estban	Function
7.1.2.40.20.00-0	Operating	-	Record, by the lessor, revenues arising from operating lease contracts.
7.1.8.20.00.00-0	INCOME FROM ADJUSTMENTS IN PARTICIPATIONS IN AFFILIATES, CONTROLLED AND JOINTLY CONTROLLED IN THE COUNTRY	711	Record the increase in the value of the investment resulting from the application of the equity method for the valuation of participations, in the country, in affiliates, controlled and jointly controlled entities.
7.1.9.89.00.00-8	INCOME FROM RESTITUTION OF JUDICIAL AND ADMINISTRATIVE DEPOSITS	711	Record the income related to the rights to receive the values of judicial and administrative deposits subject to restitution by public entities.

Art. 3. The following accounting items are included in Annex III of BCB Normative Instruction No. 431, of December 1, 2023, observing the order of the "Account Code" column:

Account Code	Account Name	Estban	Function
7.9.4.00.00.00-8	Taxes on Profit	-	-
7.9.4.10.00.00-7	INCOME TAX	711	Record the values related to income tax.
7.9.4.10.10.00-4	Current Values	-	Record the values related to income tax on the taxable result of the period, when negative.
7.9.4.10.20.00-1	Deferred Tax Liability	-	Record the values related to the reversal of deferred income tax liabilities associated with gains from previous periods classified as temporary differences between accounting practices and tax rules.
7.9.4.10.30.00-8	Deferred Tax Asset	-	Record the values corresponding to the establishment of deferred income tax assets related to expenses classified as temporary differences between accounting practices and tax rules.
7.9.4.20.00.00-6	SOCIAL CONTRIBUTION	711	Record the values related to social contribution.
7.9.4.20.10.00-3	Current Values	-	Record the values related to social contribution on the taxable result of the period, when negative.
7.9.4.20.20.00-0	Deferred Tax Liability	-	Record the values related to the reversal of deferred social contribution liabilities associated with gains from previous periods classified as temporary differences between accounting practices and tax rules.
7.9.4.20.30.00-7	Deferred Tax Asset	-	Record the values corresponding to the establishment of deferred social contribution assets related to expenses classified as temporary differences between accounting practices and tax rules.

Art. 4. This Normative Instruction enters into force on November 11, 2024.

GILNEU FRANCISCO ASTOLFI VIVAN

NOTE 761/2024 – BCB/DENOR, OF NOVEMBER 5, 2024

Justifies the proposal for the issuance of a normative instruction that amends the accounting items of the Creditor Result group of the chart of accounts of the Accounting Standard of Institutions Regulated by the Central Bank of Brazil (Cosif).

Dear Head of Denor,

This Note justifies the proposal for the issuance of a normative instruction that amends the accounting items of the chart of accounts of the Accounting Standard of Institutions Regulated by the Central Bank of Brazil (Cosif), in accordance with the competence of the Financial System Regulation Department (Denor), in the exercise of the authority conferred by Art. 23, item I, letter "a", of the Internal Regulations of the Central Bank of Brazil (BCB), annexed to BCB Resolution No. 340, of September 21, 2023, based on Arts. 12 of CMN Resolution No. 4,858, of October 23, 2020, and 10 of BCB Resolution No. 92, of May 6, 2021.

2.            After the conclusion of the harmonization process of the accounting standards provided for in Cosif with the international pronouncement IFRS 9 – *Financial Instruments*, issued by the *International Accounting Standards Board* (IASB), it was necessary to make changes to the account structure of the Cosif chart of accounts, in order to allow the creation of new items and to meet the needs derived from the implementation of international standards.
   

3.     Thus, in December 2023, based on BCB Resolution No. 92, of 2021, normative instructions were issued consolidating the structure of the Cosif chart of accounts, with effect from January 2025. However, after the issuance of the normative instructions, it was found necessary to make some adjustments, in order to incorporate new changes to the account structure, to meet new legal and regulatory requirements, correct improprieties and improve the quality of the information provided. Therefore, it is necessary to adjust Annexes I and III of BCB Normative Instruction No. 431, of December 1, 2023, which defines the accounting items of the Creditor Result group of the chart of accounts of Cosif.
   

4.          Finally, in compliance with the provisions of Art. 5 of Law No. 13,874, of September 20, 2019, Decree No. 10,411, of June 30, 2020, determines that proposals for normative acts of general interest of economic agents formulated by bodies and entities of the direct, autarchic and foundation federal public administration, as well as by collegiate bodies through the body or entity responsible for providing administrative support, must be preceded by a Regulatory Impact Analysis (RIA).
   

5.        However, as provided in Art. 4, items II, IV and VII, of this Decree, the obligation to prepare an RIA may be waived for a normative act that aims to regulate rights or obligations defined in a hierarchically superior norm that does not allow, technically or legally, different regulatory alternatives, that aims to update or revoke norms considered obsolete, without change of merit, and also for normative acts that reduce requirements, obligations, restrictions, requests or specifications with the objective of reducing regulatory costs. In this way, in light of these provisions, the normative instruction now proposed is exempt from the preparation of an RIA.
   
                     For your consideration.
   

UVERLAN RODRIGUES PRIMO

Deputy Head

In agreement.

GILNEU FRANCISCO ASTOLFI VIVAN

Department Head