What changes you?
Enter Cuore and inform your average cost between 26/05 and 25/06. If not, the Administrator uses the lower historical price as a basis — you pay IR 20% about a gain that may not even exist at all.
The unit closed in R$ 152,99 with VP of R$ 155,67 — spread of ~1,7% receive in 47 business days. A window closes on 25/05There are only three nails left.
The Relevant Fact released on Wednesday, 20/05/2026, did what the unitholder expected since the AGE: put concrete dates in the settlement of the HGPO11. . It's not two to three weeks anymore. It is now known when the ticker stops negotiating, when Cuore opens, when the income is disclosed and, above all, when the PIX of the amortisation falls — 08 July 2026.
The sensitive point, however, is not the schedule itself. That's what he demands of the unit before payment: inform the average cost of units by the Cuore system. Anyone who does not do this homework can pay IR of 20% on an artificially inflated capital gain. Let's go in pieces.
The essential numbers
The official timetable — Takes the Rule
It's not an estimate. It's not "should come out in." These are the dates recorded in the Relevant Fact (doc. Print, save, write.
Monday. There's only one left. three studs: 21, 22 and 25/05. After that, the ticker comes out of the book and the unit gets stuck until the payment.
30 days running for each unit holder to inform, by the Cuore platform, what was the average price of acquisition of units. It's this information that will determine how much IR you pay.
First line of payment — small, residual, coming from the result of RF. IR-free for physical persons according to Article 3 of the 11.033/2004 Law.
Who has recently changed email needs to send the update to [email protected]. . It is through this channel that the official communication about average cost, divergences and IR proofs comes out.
A window in which Genial consolidates the informed costs, crosses the basis of units and calculates the individualized capital gain of each.
Final Relevant Fact informs the exact amount per unit — it should be close to the net IR R$ 155,67, VP and final expenses adjustments.
The big payoff. It falls into the broker's account, IR net of 20% over the capital gain of each unit.
The IR Alert — Why It Really Matters
The FII exemption is not valid here.
The FII unit holder is accustomed to receiving IR-free monthly income — benefit from Article 3 of the 11.033/2004 Law. This benefit does not apply to the ransom at the sale. The Final Amortization is, in practice, a sale of the unit to the fund itself, and the Federal Revenue treats as capital gain.
Aliquot: 20% on the difference between the value received and its average purchase cost. Withheld at source at the time of payment.
The problem is what happens to people who don't report the cost. In this case, according to the Material Fact, the Administrator will use the minimum historical trading value the unit as a basis of calculation. For an IFI that has negotiated at much lower prices in recent years, this means artificially inflated gain — and a much higher IR than due.
If you DO NOT inform the cost: Administrator uses, say, R$ 90 as a historical minimum (presumed cost: R$ 9.000). Gain considered: R$ 6.500. IR retained: R$ 1.300. . Difference: Plus R$ 1.240 going to the Recipe — recoverable only in the annual declaration, with work.
The two payments — do not confuse
The schedule involves two separate lines. Different tax treatment, different magnitude, different dates:
Fund Income IR-free
- Date: Disclosure 29/05
- Source: residual applications in RF
- Magnitude: small — pennies per unit
- IR: Free for PF (Art. 3 11.033 Law)
- Required action: none
Final Depreciation IR 20%
- Date: Published 01/07, paid 08/07
- Source: settlement of the assets
- Magnitude: ~R$ 155,67/unit
- IR: 20% on capital gain at source
- Required action: inform cost in Cuore up to 25/06
For those who are outside — is it worth entering the last three nails?
The spread, without romanticizing
Quota to R$ 152,99 against a VP of R$ 155,67 gives a gross spread of 1,75% in 47 business days. . Yearly, they are about 9,5% — below the CDI designed for the period, and before the IR of 20% on the gain.
If you buy 100 units from R$ 152,99 (R$ 15.299) and receive R$ 155,67 (R$ 15.567), the gain of R$ 268 suffers R$ 53,60 from IR. Leftover Liquid R$ 214,40 — about 1,4% liquid in 47 days. . Positive, but at risk of the final value coming below the VP for adjustments in final settlement expenses.
It's a trade. It's not an exuberant opportunity. And he closes on 25/05. . Who seeks to keep exposure to offices Homeland after liquidation can look to HGRE11, which operates in the same segment and has higher output liquidity.
What to Do Now — 3 Steps
- Locate your average cost. Enter your brokerage company, download your asset position or operations statement. The average price of the shares HGPO11 It's there. Who uses B3 Investor or apps like Kinvo already has the number ready. Those who have been operating longer with entries and exits need to add operations — or resort to the annual income report.
- Report to Cuore from 26/05 to 25/06. The platform opens after the last stall. The Administrator (Genial) will disclose the exact link in the FR of 26/05. Book 10 minutes to do — it is the step that protects your R$ 200, R$ 500 or R$ 1.000+ from improper IR, depending on the size of the position.
- Check your registered e-mail. By 10/06, make sure that the registered email with the Administrator is what you use today. If you've changed recently, send it to [email protected]. . It is through this channel that the cost confirmation, any rectifications and the withheld IR receipt — document necessary for the 2027 declaration is issued.
Quick context — where the cashier came from
O HGPO11 is the former CSHG Prime Offices, today run by the Homeland. In 2024, he sold his two main assets — Metropolitan and Platinum, both in Jardim Europa (SP) — by R$ 620,4 Mi, a valuation of 234% on the purchase cost. Since then, the bottom has essentially become a box parked in RF waiting for the deliberation of the unit holders.
In 19/05/2026, AGE approved settlement with 50,11% of the votes. The FR of 20/05, the object of this article, is the operational unfolding of this decision: the how and when of payment. For the full history, also check our coverage on the AGE approved with 50,11%.
With published schedule, set price and fixed deadline, what remains for the current unit is only to execute the tax step. The fund fulfilled its thesis — delivered TIR of 17,7% a.a. in 14 years, sold at the top and now distributes the final cashier. . The risk of capital and the risk of timing have been eliminated. The only risk left is controllable by the unit holder himself: open the Cuore and report the average cost.
Fonts
- Relevant fact of 20/05/2026 — Official settlement schedule of the HGPO11 (doc 1/200376, FundsNET/CVM)
- Act of the AGE of 19/05/2026 — Approval of settlement with 50,11% of votes (doc 1/200375, FundsNET/CVM)
- Status Invest — HGPO11 quotation in 20/05/2026: R$ 152,99
- General Report Country Apr/2026 — VP/unit R$ 155,67 and heritage R$ 272,9 Mi
- Law 11.033/2004, Art. 3 — Exemption from IR on FII income for PF; exception on capital gain in settlement
