Treasury Direct: How to Declare on Your Income Tax
Investors in Treasury Direct know that the platform offers one of the most accessible ways to invest in federal public securities in Brazil. However, during the annual tax adjustment with the Federal Revenue, a common question arises: how to correctly declare these investments on the Income Tax? The good news is that with a bit of organization and the right information at hand, the process is simpler than it seems.
This article is written to help you understand the taxation logic of Treasury Direct, which fields to fill in the declaration, which documents to gather, and which mistakes to avoid. The goal is educational: to explain the rules so you can fulfill your tax obligations safely. For specific situations or complex questions, the guidance of a registered accountant or advisor is always recommended.
Remember that tax rules can be updated. This article reflects the rules in effect in 2026, but always confirm the latest information directly on the Federal Revenue website or the Treasury Direct portal before submitting your declaration.
What is Treasury Direct and Why It Must Be Declared
Treasury Direct is a federal government program, managed by the National Treasury in partnership with B3, which allows individuals to buy public debt securities directly over the internet. Among the available securities are Tesouro Selic, Tesouro Prefixado, and Tesouro IPCA+, each with different characteristics in terms of profitability and maturity.
Every financial investment that generates income is subject to taxation — and Treasury Direct is no exception. Even if the tax has already been withheld at the source throughout the year (which usually happens with Treasury Direct), you still need to report these amounts in your annual Individual Income Tax Return (DIRPF). This is because the Federal Revenue cross-checks the data provided by financial agents with what you declare. Omissions or inconsistencies can trigger an audit.
How Treasury Direct Taxation Works
Before knowing how to declare, it is important to understand the logic of the tax levied on these securities.
Income Tax on Earnings
The earnings from Treasury Direct are taxed by the Income Tax at the source, with regressive rates according to the investment term. The longer the money is invested, the lower the rate. The regressive table works as follows:
| Investment Term
| IR Rate
|
| Up to 180 days
| 22.5%
|
| 181 to 360 days
| 20%
|
| 361 to 720 days
| 17.5%
|
| Above 720 days
| 15%
This table is defined by the current legislation and can be consulted at the Federal Revenue. The rates apply to the net income, not the total invested amount.
IOF on Early Redemptions
If you redeem a Treasury Direct security in less than 30 days after purchase, there will be a charge of IOF (Tax on Financial Operations), also with a regressive rate ranging from 96% (on the first day) to 0% (from the 30th day). The IOF is charged before the IR and is also withheld at the source.
Come-cotas: Not Applicable to Treasury Direct
Unlike investment funds, Treasury Direct does not have come-cotas — that semi-annual IR anticipation mechanism that automatically reduces fund shares in May and November. In Treasury Direct, the tax is only charged at the time of redemption or maturity of the security.
Which Documents You Need to Gather
Before opening the Federal Revenue program (the PGDAS or the My Income Tax app), gather the following documents:
- Income Report: issued by your brokerage or custodian bank. This document shows the balance of securities on December 31 of the base year, the earnings received, and the IR withheld at the source. It is the most important piece for the declaration.
- Brokerage notes or transaction statements: useful for checking purchases, sales, and redemptions made throughout the year.
- Purchase receipts of the securities: to know the acquisition cost and calculate any capital gains.
The income report is usually available in the logged area of your brokerage from February each year. If you have investments in more than one brokerage, you need to gather the report from each of them.
Step-by-Step: How to Declare in the Federal Revenue Program
Below is a practical guide to filling out the declaration. The fields may vary slightly depending on the program version, but the logic is the same.
- Open the Federal Revenue program (or the My Income Tax app) and access your declaration.
- Access the “Assets and Rights” section — here you report the balance of the securities you still hold in your portfolio.
- Click on “New”
- Select Group 04 – Applications and Investments
- Choose Code 02 – Public and private securities subject to taxation (Treasury Direct, CDB, RDB, and others)
- Enter the CNPJ of the custodian institution (your brokerage or bank)
- In the “Description” field, describe the security (e.g., “Tesouro Selic 2027, held at [brokerage name]”)
- Fill in the balance on 12/31 of the previous year and the balance on 12/31 of the base year with the values from the income report
- Access the “Income Subject to Exclusive/Definitive Taxation” section — here are the earnings that have already had IR withheld at the source and do not need to be taxed again.
- Click on “New”
- Select code 06 – Income from financial applications
- Enter the CNPJ and the name of the paying source (your brokerage)
- Fill in the value of the earnings and the IR withheld at the source, as stated in the income report
- Check for partial or total redemptions made throughout the year. For each redemption, confirm that the corresponding IR was withheld and is reflected in the report.
- If you sold securities with a profit in the secondary market, there may be capital gain to declare. In this case, check with your brokerage if there was withholding and in which section to declare — generally, still in the income subject to exclusive/definitive taxation tab.
- Review the values by checking with the income report before finalizing.
Special Situations That Deserve Attention
Securities with Semiannual Interest Payments
Some Treasury Direct securities, such as Tesouro Prefixado with Semiannual Interest and Tesouro IPCA+ with Semiannual Interest, pay interest coupons every six months. Each coupon payment is a separate income event, with IR withheld at the source at that moment. All these events must be consolidated in your brokerage’s income report.
Simplified vs. Complete Declaration
If you opted for the simplified declaration, the standard 20% discount on the calculation base already includes all deductions, and the income from financial applications continues to be reported normally in the specific sections — they do not enter the standard discount base.
Minors with Investments
If a minor owns Treasury Direct securities, the assets and income must be declared in the legal guardian’s declaration, unless the minor is required to file their own declaration.
Inheritance or Donation of Securities
Securities received by inheritance or donation follow specific declaration rules. In this case, consult an accountant to ensure correct treatment.
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