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IntermediateBrazilian REITs · Lesson I3.2 · Module I3

Monthly filings and material facts: the mandatory ones

Module I3: The fund's documents

10 slides~4 minquiz at the end

In this lesson

  • The 15, 45 and 90-day deadlines
  • What counts as a material fact
  • Where to find the documents
See the slides
Red binders lined up on a shelf

Brazilian REITs · Lesson I3.2

What the fund must disclose

The calendar of mandatory filings and the alarm that can ring any day.

The fixed calendar

How long after period end

  1. 15 daysMonthly filingequity, holders, payouts, assets
  2. 45 daysQuarterly filingmore detail on assets and results
  3. 90 daysAudited annual statementswith the annual filing
  4. 8 daysMeeting minutesafter the annual meeting

CVM Res. 175, Annex III, art. 36 (as of 09/2026).

Do the math

Closed on… due by…

Period endDeadline
Monthly31/0815/09
Quarterly30/0614/08
Annual31/1231/03

Dates as day/month. Annual assumes a year without 29 February.

The alarm

Material fact: right away, not at month-end

  • Late paymentsrent or interest that did not arrive
  • Vacancya tenant leaving that hits income
  • Construction delaya project behind schedule
  • Lawsuita case that can change results
  • Sale or leasea large property deal

Annex III, art. 37, § 1: examples, when material to the fund.

Where to find it

The same document in three places

  1. Administratorposts it on its website
  2. B3receives it at the same time
  3. CVMthrough its filing system

Annex III, art. 38. On Rico aos Poucos, captured documents get a summary at /documento/.

The misconception

"If it mattered, it would be in the report"

What is mandatory is in the filings and material facts. The manager's report is optional.

Remember this

Three ideas from this lesson

  1. 15, 45, 90Days for the monthly, quarterly and annual filings.
  2. Material facts come at onceDelays, vacancy, construction, lawsuits, sales: no waiting.
  3. Three placesAdministrator's website, B3 and CVM.

Quick quiz · 1 of 2

A key tenant left and payouts will fall. The administrator must…

See answer

Material fact. Vacancy that affects the fund is among the examples in Annex III, art. 37.

Quick quiz · 2 of 2

The month closed on 30/09. When is the monthly filing due?

See answer

15/10: 15 days after month-end. 14/11 would be the 45-day quarterly deadline.

Lesson complete

Next lesson

I3.3Intermediate · Lesson I3.3The bylaws: the contract that rules everythingThe contract that says what the manager may do — and what needs your vote.Continue
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Educational content, written for learners. Not investment advice.