How to Report Treasury Direct on Your Income Tax Return

How to Report Treasury Direct on Your Income Tax Return

Every year, as tax season approaches, a common question arises among investors: how to correctly declare Treasury Direct bonds? Those investing in this popular fixed-income product, managed by the National Treasury Secretariat in partnership with B3, must report these assets to the Federal Revenue, regardless of whether the money was redeemed during the year.

The good news is that with some organization and the right documents on hand, the process is quite accessible. The income report provided by your brokerage or Treasury Direct itself contains almost everything you need. The challenge is knowing which field each piece of information goes into and understanding the tax logic behind public bonds.

In this article, you will learn step-by-step how to declare your investments in Treasury Direct, understand how taxation works, which documents to gather, and which mistakes to avoid. The goal is to approach the Federal Revenue program with confidence and not leave anything out.

Understanding Treasury Direct Taxation

Before opening the declaration program, it is important to understand how Treasury Direct is taxed. This greatly facilitates filling out the fields correctly.

The earnings from Treasury Direct bonds are taxed at the source by Income Tax, following the regressive fixed-income table. This means that the rate decreases according to the application period:

This table is established by Brazilian tax legislation and applies to earnings (not the total invested amount). The tax is withheld at source automatically upon redemption or maturity of the bond — meaning you receive the net amount. Still, it is the taxpayer’s obligation to declare both the balance and the earnings in the annual income tax.

Besides the IR, there is also the IOF (Tax on Financial Operations), which applies only to redemptions made within 30 days of the application, at a regressive rate ranging from 96% to 0% of the earnings. Redemptions over 30 days do not pay IOF.

Necessary Documents Before Starting

Gather the following documents before opening the Federal Revenue program:

• Income Report issued by your brokerage or the Treasury Direct platform (usually available until the last day of February each year)
• Transaction Statement from the previous calendar year (available on the Treasury Direct portal at tesourodireto.gov.br)
• Your CPF and access data to the Federal Revenue’s IRPF program

The income report is the central document. It contains:

• The balance on December 31 of the previous year (market value or custody value of the bonds)
• The gross earnings obtained during the period
• The IR withheld at source already deducted
• Any redemptions made during the year

Keep these documents carefully — the Federal Revenue may cross-check the information with the data sent by financial institutions.

Step-by-Step: How to Fill Out the Declaration

1. Declare the Balance in the “Assets and Rights” Section

The Treasury Direct bonds you still own (not redeemed) must be declared in the Assets and Rights section, group 04 – Applications and Investments, code 02 – Public and Private Bonds Subject to Taxation.

1. Open the IRPF program and access Assets and Rights
2. Click on New and select group 04 and code 02
3. In the Description field, describe the bond: for example, “Treasury Selic 2027 – Brokerage CNPJ [number]”
4. Provide the CNPJ of the custodian institution (your brokerage)
5. In the Situation on 12/31/[previous year] field, enter the acquisition value (purchase cost), not the market value — unless it’s the first year declaring, in which case you can use the updated value according to the report
6. Repeat the process for each different bond you own

> Attention: always use the cost value (purchase price), not the current market value, to avoid anticipating unrealized gains. Confirm with your income report which value the institution reported.

2. Declare the Earnings in the “Income Subject to Exclusive/Definitive Taxation” Section

Treasury Direct earnings are taxed exclusively at source, so they do not enter the progressive IR calculation base. They go to the correct section: Income Subject to Exclusive/Definitive Taxation.

1. Access this section in the IRPF program
2. Click on New and select code 06 – Earnings from Financial Applications
3. Provide the CNPJ of the paying source (your brokerage)
4. Enter the gross earnings value according to the income report
5. The IR withheld at source is already included and does not need to be entered separately here

If you have more than one brokerage or more than one bond with earnings, create a separate entry for each paying source.

3. Redemptions Made During the Year

If you redeemed bonds throughout the year, the procedure is the same as described above — the earnings on the redeemed amount are already in the report and should be entered in Income Subject to Exclusive/Definitive Taxation. There is no need for a separate field for “capital gain” in Treasury Direct bonds, as taxation is exclusive at source.

In the Assets and Rights field, if you redeemed the bond entirely, the balance on 12/31 will be R$ 0.00.

Who is Required to Declare?

Not every Treasury Direct investor is required to declare IR — but most who invest in this modality end up being required by other criteria. In 2026, check the current rules on the Federal Revenue website (receita.fazenda.gov.br), as the obligation limits are periodically updated.

In general, you are required to declare if, in the previous calendar year:

• You received taxable income above the limit set by the Revenue
• You had possession or ownership of assets above the value limit (including financial applications)
• You carried out operations on the stock exchange or similar markets
• You obtained exempt, non-taxable, or exclusively taxed income above the current limit

Even if you are not required, voluntarily declaring can be advantageous to recover improperly withheld tax or prove income.

Common Mistakes and How to Avoid Them

• Not declaring non-redeemed bonds: many investors think they only need to declare what they withdrew. Wrong — the custody balance must also be included in Assets and Rights.
• Using market value instead of acquisition cost: this can distort the declared assets and create inconsistencies.
• Forgetting to declare multiple brokerages: if you have bonds on more than one platform, each must be reported separately.
• Entering earnings in the wrong section: Treasury Direct earnings do not go in “Taxable Income” (which uses the progressive table), but in “Exclusive/Definitive Taxation”.
• Ignoring the income report: always base your entries on the institution’s official document, which is the same sent to the Federal Revenue.

Treasury Direct as Part of Long-Term Financial Planning

Correctly declaring is just one aspect of being a conscious investor. Treasury Direct is widely used as an emergency reserve instrument or for planning medium to long-term goals — including retirement. If you use these bonds for this purpose, it is worth deepening your planning: check our article Discover How Much to Save for a Secure Retirement to understand how to structure this strategy realistically.

As with any fixed-income investment, it is important to remember that Treasury Direct bonds are subject to market risk — especially if you need to sell them before maturity. The market value may be lower than the face value at certain times, depending on interest rate conditions. To know the current Selic and CDI rates, always check the official Central Bank (bcb.gov.br) website.

Conclusion

Reporting Treasury Direct on your income tax return doesn’t have to be a headache. With the income report in hand, the process boils down to two main steps: reporting the bond balance in Assets and Rights and entering the earnings in Exclusive/Definitive Taxation. The key is to use the correct values and not confuse the sections.

If you have specific questions about your situation — especially if you have more complex operations, such as early sales of multiple bonds or accumulation in different brokerages — consider seeking the support of an accountant or investment advisor. Correct declaration protects you from scrutiny and reflects responsible financial behavior.

For those still building their financial base, it is also worth learning strategies to build an emergency reserve from scratch before diversifying investments.

This content is for educational and informational purposes only and does not constitute investment advice, tax consultancy, or personalized financial advice. Income tax rules may be amended by the Federal Revenue; always check the current regulations at receita.fazenda.gov.br. For decisions on investments or tax declarations, consult a qualified professional — accountant, financial planner, or investment advisor registered with the CVM.