To send money to Brazil from the US, you need the recipient’s CPF (their 11-digit Brazilian taxpayer ID), their bank’s routing details, and a transfer method — either an international wire through your US bank or an online money transfer service. Brazil will deduct a financial operations tax called the IOF when the dollars are converted to reais, and depending on the size of the transfer or whether you keep your own account in Brazil, the US may want paperwork from you too.
Information to Collect From the Recipient
Every transfer to Brazil starts with the recipient’s CPF (Cadastro de Pessoas Físicas), an 11-digit individual taxpayer ID that Brazilian financial institutions require on all incoming international transfers. Anyone with a Brazilian bank account already has one.1Ministério das Relações Exteriores. CPF for Foreigners If the CPF is wrong or missing, the receiving bank will reject the transfer, and clawing the funds back can take weeks.
Beyond the CPF, ask the recipient for four bank details:
- Bank name and three-digit bank code. Banco do Brasil is 001, Itaú Unibanco is 341, Bradesco is 237.
- Branch number (Agência), usually four digits and often followed by a check digit that must be included.
- Account number, also typically followed by a check digit.
- SWIFT/BIC code, an 8- or 11-character code that routes the transfer through the global interbank network.
Brazil also supports IBAN. Since July 2013, Brazilian financial institutions have been required to provide IBAN codes to account holders on request.2Banco Central do Brasil. International Bank Account Number (IBAN) An IBAN bundles the bank code, branch, and account number into one standardized string and reduces the chance of a routing error. If the recipient can pull their IBAN from their statement or banking app, use it. Otherwise the individual components work.
Double-check every digit before entering it into a transfer form. Brazilian bank codes use check digits that are easy to mistype, and a single wrong number sends the money into a suspense account while both banks sort it out.
Choosing a Transfer Method
You’ll typically choose between your bank’s international wire service and an online money transfer platform. Banks charge a flat fee for outgoing international wires, commonly in the $25 to $65 range depending on the institution and whether you initiate the wire online or in a branch. Online platforms often charge lower upfront fees but make money on the exchange rate spread, so compare the total cost rather than the advertised fee.
After you select Brazil as the destination, the platform will prompt you for the bank code, Agência, account number, CPF, and SWIFT code or IBAN. Enter them exactly as the recipient provided them. The quoted exchange rate is almost never the mid-market rate you see on Google; the gap is the spread and it’s a real cost. On a $5,000 transfer, a 1.5% spread quietly costs $75 on top of the fee.
Review the summary screen before sending. It should show the amount leaving your account in USD, the exchange rate applied, all fees (including any estimated IOF on the Brazilian side), and the amount arriving in BRL. Save the confirmation and tracking number; you’ll need it if anything goes wrong in transit.
Watch for Intermediary Bank Fees
Wire transfers routed through SWIFT often pass through one or more correspondent banks before reaching the recipient’s institution. Each intermediary can deduct its own processing fee, so the recipient may receive less than you sent even after the exchange rate and IOF. Some platforms let you choose who absorbs these charges — sender, recipient, or split — so ask before finalizing. Online services that maintain their own accounts in Brazil can sometimes bypass the correspondent chain entirely, which is one reason they’re often cheaper for smaller amounts.
What Brazil Takes Out on Arrival
Brazil applies the IOF (Imposto sobre Operações Financeiras) to foreign exchange transactions, including inbound remittances. The tax is deducted automatically when the incoming foreign currency is converted to reais, so the recipient sees the after-tax amount in their account.
For standard inbound remittances, the IOF rate has historically been 0.38%. Brazil overhauled its IOF rate structure in mid-2025 through a series of executive decrees and a Supreme Court ruling that significantly raised rates on outbound transactions; the inbound rate for general foreign exchange receipts remained at 0.38% after those changes. Because rates are set by executive decree and can shift without legislative approval, confirm the current rate with the receiving bank or transfer service before sending a large amount.
The $10,000 Foreign Exchange Contract Threshold
When a transfer exceeds $10,000 USD (or the equivalent in another currency), the receiving institution in Brazil must formalize a foreign exchange contract. Transactions below that threshold can be processed with simplified documentation, though the bank must still provide a receipt showing the exchange rate, amounts in both currencies, and the total effective value.3Banco Central do Brasil. Frequently Asked Questions – Section: Foreign Exchange For transfers above $10,000, expect the receiving bank to request additional documentation such as tax returns, proof of the funds’ origin, or a purchase contract if the money is for real estate.
Nature of Remittance Codes
Every international transfer into Brazil is classified with a four-digit “nature of remittance” code (a BR Code) that tells the Central Bank what the money is for. The authorized bank or financial agent handling the transaction selects the code based on the documentation the customer provides.3Banco Central do Brasil. Frequently Asked Questions – Section: Foreign Exchange Code 1111 covers family maintenance transfers; code 4111 covers real estate purchases within Brazil.4Banco Central do Brasil. Manual of Foreign Exchange Operations – BR Codes
Wrong codes trigger audits or requests for supporting documents, which delay the transfer. If the money is for family support, make sure the recipient tells their bank it’s a maintenance remittance, not an investment. The Central Bank of Brazil can freeze incoming funds when the stated purpose doesn’t match the documentation.
US Rules That Can Catch You
None of the following prohibits sending money to Brazil, but missing a filing can produce steep penalties.
Cash Reports and Structuring
US financial institutions must file a Currency Transaction Report for any cash transaction over $10,000 in a single day, whether that’s one transaction or several that add up.5FinCEN.gov. Notice to Customers: A CTR Reference Guide Money service businesses must also keep records on any transfer of $3,000 or more, including the identities of both sender and recipient.6FinCEN.gov. BSA Quick Reference Guide for Money Services Businesses The institution files these reports, not you. But splitting a transaction to stay under the threshold — sending $9,500 today and $9,500 tomorrow instead of one $19,000 wire — is a federal crime called structuring, regardless of whether the underlying money is legitimate.
Gift Tax
Money you send to family in Brazil is treated as a gift for US tax purposes. In 2026, you can give up to $19,000 per recipient per year without any filing requirement. Married couples who elect gift-splitting can give up to $38,000 per recipient.7Internal Revenue Service. Frequently Asked Questions on Gift Taxes Above those amounts you must file Form 709, but you almost certainly won’t owe any actual tax — the excess counts against your lifetime exemption, which is well over $13 million. It’s the filing itself that trips people up, and the IRS can assess penalties for missing it.
Foreign Account Reporting
If you maintain your own bank account in Brazil, even one you rarely use, you may have annual reporting obligations. US persons with a financial interest in or authority over foreign accounts whose aggregate value exceeds $10,000 at any point in the year must file FinCEN Form 114 (the FBAR) by April 15 of the following year, with an automatic extension to October 15.8Internal Revenue Service. Report of Foreign Bank and Financial Accounts (FBAR) The threshold applies to the combined balance of all your foreign accounts. Willful failure to file carries penalties of up to $100,000 or 50% of the account balance, whichever is greater.
Under FATCA, unmarried taxpayers living in the US must also file Form 8938 if their foreign financial assets exceed $50,000 on the last day of the tax year or $75,000 at any point during the year. For married couples filing jointly, those thresholds double to $100,000 and $150,000.9Internal Revenue Service. Do I Need to File Form 8938, Statement of Specified Foreign Financial Assets The FBAR and Form 8938 overlap. You may need to file both for the same accounts; they go to different agencies (FinCEN and the IRS) and carry different penalties.
None of this touches the recipient’s ordinary transfer. It only applies if you personally hold accounts in Brazil.
How Long It Takes and What the Recipient Has to Do
Traditional wires through SWIFT take two to five business days to clear, depending on how many intermediary banks are involved and whether the receiving bank flags the transfer for review. Some online platforms hold pre-funded accounts in Brazil and release reais locally once they receive your dollars, which can cut delivery to one business day or even hours.
A note on Pix, Brazil’s instant payment system: Pix handles domestic transfers within Brazil in seconds at any time.10Banco Central do Brasil. Pix Frequently Asked Questions It does not currently support direct cross-border transactions. When a platform advertises Pix delivery to Brazil, the international leg still runs through conventional channels and only the final domestic hop uses Pix.
For larger transfers, expect the recipient’s bank to require extra steps before releasing funds. Brazilian banks generally require identification for all incoming remittances, and for amounts exceeding the equivalent of $3,000 USD in foreign currency payment orders, the bank may request supporting documentation.11Banco Central do Brasil. Primer of Exchange 2018 – Section: Remittance by Payment Order Amounts above R$10,000 must be credited to an account rather than paid out in cash. Tell the recipient to keep their phone handy — many banks send a digital authorization request that must be signed before the funds land in the account.