From this Tuesday (31st), investors with funds from Tesouro Direto will no longer pay the fee every six months to keep the money invested on the stock exchange. The charge will be made on the movement of securities, when the paper matures, the investor redeems the money in advance or the Treasury pays interest and amortizations.
Equivalent to 0.2% of the balance, the custody fee was applied twice a year, on the first business day of January and on the first business day of July on the investment account at the brokerage or bank. The charge scheduled for January 2, 2025, informed the National Treasury, will no longer be made.
Now, when the investor redeems the investment or the Treasury transfers the interest to those who hold securities that pay “six-monthly coupons”, the investor will pay 0.2% on the total balance invested in Tesouro Direto, proportional to the period of investment. Payment will be made in the event that occurs first.
“The charge will be made proportional to the period in which you invested, facilitating the experience as an investor and eliminating the need to manage periodic deposits”, informed the Treasury in a statement sent to investors. The custody fee remunerates B3, the Brazilian stock exchange, which keeps the Treasury Direct securities under its custody and operates the trading system.
Special cases
In the case of the Treasury Educa+ bonds (which finances investments in education) and Renda+ (which finances retirement), the charge will be made at different times. Payment of the custody fee for these two securities, informed the Treasury, will only be made upon redemption or upon receipt of monthly flows after maturity.
In these two bonds, whoever takes the investment until maturity remains exempt from fees. Some papers provide for exemption for titles with receipts of four to six minimum wages for some papers.
Investments of up to R$10,000 per Individual Taxpayer Registry (CPF) in the Selic Treasury (a security that follows the basic interest rate) remain exempt. In this case, the 0.2% rate only applies to amounts exceeding R$10,000. If the investor has R$10,100, he will pay R$0.20, equivalent to 0.2% of the excess R$100.
History
At the beginning of the Tesouro Direto Program, in 2002, banks and brokers charged an administration fee, and B3 had a custody fee of 0.5%. Over the years, administration fees ceased to exist and the custody fee progressively fell, until reaching 0.3% in 2019. That year, the custody fee fell to 0.25%.
Furthermore, in August 2020, investments of up to R$10,000 in the Treasury Selic, a security adjusted by the economy’s basic interest rates, became exempt from custody fees. Only balances above this amount invested in the Treasury Selic are charged. In January 2022, the custody fee fell to 0.2% and continued to be charged every semester, with one installment in January and another in July.
Fundraising
Tesouro Direto was created in January 2002 to popularize this type of application and allow individuals to purchase public securities directly from the National Treasury, via the internet, without the intermediation of financial agents. More information can be obtained at Treasury Direct website.
The sale of bonds is one of the ways that the government has to raise resources to pay debts and honor commitments. In exchange, the National Treasury undertakes to return the amount with an additional fee that may vary according to the Selic, inflation indices, exchange rate or a rate defined in advance in the case of pre-fixed securities.
