Fintechs now have the same obligations as Financial Institutions
- Daniela Lavin
- 6 days ago
- 2 min read
The Brazilian Federal Revenue Service (RFB) published Normative Instruction RFB No. 2,278 on August 28, 2025, which reestablishes and expands the reporting obligations for financial information of fintechs, payment institutions, and participants in payment arrangements.
What has changed?
Until 2023, only banks and financial institutions were required to submit the e-Financeira report, which compiles data on relevant financial transactions of clients. With the new regulation:
Fintechs, payment institutions, and companies operating within the National Financial System (SFN) and the Brazilian Payments System (SPB) are now subject to the same reporting requirements.
These entities must submit information on financial transactions, balances, relevant movements, and other data as required by law.
Cases with indications of tax-related crimes must be reported to the competent authorities, as established by RFB Ordinance No. 1,750/2018.
Why this change?
The temporary exclusion of fintechs from the obligation to submit the e-Financeira created a regulatory gap. According to the RFB, this loophole was exploited by criminal organizations in operations such as “Carbono Oculto,” “Quasar,” and “Tank,” which involved money laundering, fraud, and organized crime financing.
In light of this, the RFB decided to place fintechs back under the same scrutiny as banks, reinforcing governance, traceability, and transparency across the sector.
Key impacts for fintechs and payment institutions
Increased compliance burden: entities will need to implement or strengthen internal controls for the collection, organization, and reporting of financial data.
Continuous monitoring of clients and transactions: fintechs must match banks in the level of detail required.
Risk of penalties: failure to comply with these accessory obligations can result in significant fines.
Strengthened trust in the sector: regulatory alignment is expected to enhance the credibility of fintechs among the market and investors.
The publication of IN RFB No. 2,278/2025 marks a new chapter in the regulation of fintechs in Brazil. The sector will now operate under the same level of requirements as traditional banks, reinforcing the role of financial technology in an environment of greater transparency and integrity.
