Decree 272/022, published September 5, 2022, has made changes in regulations for reporting owners and ultimate beneficiaries to the Central Bank of Uruguay (BCU). Summing up, the chief changes are:

  1. Companies issuing bearer equity participations and nonresident entities regulated by Law 18,930 shall have a period of 75 business days to report changes in ownership and other reported data.
  2. A maximum term of 90 days, as of the day following the end of the calendar year in which changes take place, shall be available for reporting all changes in certain data for entities (offices, tax and registered domicile), for owners and members of the ownership chain who are individuals and ultimate beneficiaries (marital status, individual or community status of the securities declared, tax and real domicile), and for owners and members of the ownership chain who are legal entities (domicile of their representatives and position or relationship with entity).
  3. The term for reporting new entities shall be 45 calendar days as of the official organization date, and 90 calendar days in the case of owners of participations or members of the ownership chain or ultimate beneficiaries who are nonresidents.
  4. New rules are set for determining the size of an entity for penalty ranges, with changes in the amounts of penalties and provision for nonapplication of penalties in duly justified circumstances.
  5. The situations triggering exemption from BCU reporting have been broadened.
  6. The term for reporting in the event of death has been regulated.