How to Report Treasury Direct on Tax Return: Practical Guide 2026

How to Report Treasury Direct on Tax Return: Practical Guide 2026

Each year, millions of Brazilian investors reach the income tax filing period with the same question: how do I correctly report Treasury Direct securities? It’s a mistake to think that because it’s a fixed income investment and relatively simple, the filing process is automatic or unnecessary. Any investment in Treasury Direct must be reported to the Federal Revenue Service, regardless of the amount invested or whether it generated income in the period.

The most common mistake is confusing “not having to pay tax” with “not having to file.” These are completely different things. Even if you didn’t redeem any securities in 2025 — and therefore have no tax to pay — the securities in your portfolio must appear in the return as assets and rights. Failing to report can result in audits, penalties, and completely avoidable headaches.

In this guide, you’ll understand how Treasury Direct taxation works, where to find the necessary information, and how to fill out each field of the Federal Revenue program step by step. The goal is to make this process clear and accessible, regardless of your level of investment experience.

How taxation works on Treasury Direct

Before moving to the filing, it’s essential to understand the tax logic behind federal public securities. Treasury Direct is taxed by income tax withheld at source, meaning the tax is collected automatically at the time of redemption, maturity, or coupon payment — you don’t need to calculate or collect it yourself.

The rate follows the regressive fixed income tax table, which works like this:

This table applies to income, not the total amount invested. Therefore, the longer you hold the security, the lower the tax rate charged — which favors longer-term strategies.

In addition to income tax, IOF (Tax on Financial Operations) is charged on redemptions made within 30 days of application. IOF is regressive and reaches zero from the 30th day onward. There’s also the charge of B3 custody fee, which is charged semiannually on the balance of securities. Confirm the current value of this fee directly on the official Treasury Direct website, as it may be updated periodically.

What you need to have on hand before filing

The good news is that you don’t need to do any manual calculations. The Treasury Direct system itself and brokers provide the necessary documents. Before opening the Federal Revenue program, gather:

• Income Statement issued by your broker or custodian bank (for the 2025 tax year)
• Treasury Direct Statement showing position on 12/31/2025 and transaction history for the year
• CPT and login credentials for the IRPF 2026 program

The Income Statement is the most important document. It already separates values into categories that correspond exactly to the return fields: income subject to source withholding, exempt income (when applicable), and asset balance. Request this statement directly from your broker’s platform — most make it available in the logged-in area by February each year.

Reporting Securities in Assets and Rights

Every Treasury Direct security that was in your possession on December 31, 2025 must be reported in the Assets and Rights section, even if you didn’t redeem any securities during the year.

Step by step:

1. Open the IRPF 2026 program and access the Assets and Rights section
2. Click New
3. In the Group field, select 04 – Applications and Investments
4. In the Code field, select 02 – Public and private securities subject to taxation (Treasury Direct, CDB, RDB and others)
5. In the Description field, describe the security clearly. For example: “Treasury Selic 2029 – [Broker Name] – CNPJ XX.XXX.XXX/XXXX-XX”
6. In the Situation on 12/31/2024 field, enter the value that was reported in the previous year (or zero, if this is the first time you’re reporting this security)
7. In the Situation on 12/31/2025 field, enter the cost value of the security, that is, the amount you actually paid for the investment, updated by the terms of the security — this value appears in your Income Statement or broker statement

> Attention: The value to be entered in “Assets and Rights” is the updated acquisition cost, not the market value of the security. Always use the information from the Income Statement to avoid inconsistencies.

Reporting Treasury Direct Income

If you made redemptions, received coupon payments (in the case of Treasury IPCA+ or Prefixed Treasury with semi-annual coupons) or had securities that matured in 2025, you need to report the income obtained.

Since the tax was already withheld at source by the custodian, this income goes to the Income Subject to Exclusive/Definitive Taxation section:

1. Access the Income Subject to Exclusive/Definitive Taxation section
2. Click New
3. Select code 06 – Income from financial applications
4. Enter the CNPJ and name of the paying source (your broker or bank)
5. In the Value field, enter the total gross income received as shown in the Income Statement
6. In the Tax Withheld at Source field, enter the income tax already automatically deducted

This income does not enter the base for progressive tax calculation (the one that can generate tax to pay or refund), since taxation already occurred at source in a definitive manner. Hence the name “exclusive taxation.”

Special cases deserving attention

Treasury IPCA+: the exempt portion

Treasury IPCA+ (former NTN-B) has an important feature: the IPCA variation embedded in the security is exempt from Income Tax. Only real interest (the part that exceeds inflation) is taxed. However, in practice, the broker already makes this separation in the Income Statement — you’ll receive the values already correctly classified between taxable and exempt income.

The exempt portion must be reported in the Exempt and Non-Taxable Income section, with the code corresponding to income from securities with IR exemption.

Early sales in the secondary market

Treasury Direct allows you to sell your securities before maturity, Monday through Friday, directly through the platform. In this case, the sale price may be higher or lower than the purchase price, depending on market conditions — especially in prefixed and inflation-indexed securities.

If there was a gain, the tax is withheld at source at the time of sale. If there was a loss (sale at a value lower than purchase), it’s possible to offset this loss with future gains in other fixed income applications. To do this, it’s necessary to report the loss in the Variable Income > Stock Exchange Operations section or in the corresponding fixed income section — consult the Federal Revenue manual or an accountant for proper treatment of this specific situation.

First year investing

If 2025 was the first year you invested in Treasury Direct, the Situation on 12/31/2024 field should be filled with zero. The Situation on 12/31/2025 field will receive the total value of investments made during the year, as shown in your statement.

Most common mistakes and how to avoid them

• Not reporting because you think the value is small: there’s no minimum value for reporting assets. If you own a security, it must appear in the return.
• Entering market value instead of cost: always use the data from the Income Statement, not the value displayed on the Treasury Direct platform screen when you’re filling out the return.
• Forgetting securities held at different brokers: if you invest in more than one institution, you need to consolidate the statements from all of them.
• Failing to report coupons received: semi-annual interest from Treasury IPCA+ and Prefixed with coupons are taxable income and must be reported even if you reinvested them.
• Confusing the broker’s CNPJ with the National Treasury’s CNPJ: the party responsible for withholding and reporting is the custodian financial institution, so use its CNPJ.

If you’re still organizing your finances and want to better understand how different investments compare, it’s worth reading about CDI: what it is and why it affects your investments, which helps contextualize Treasury Direct within the fixed income universe.

Where to find official help

• Treasury Direct website: tesourodireto.com.br — statements, reports and tutorials
• Federal Revenue: gov.br/receitafederal — IRPF program, manuals and FAQs
• Federal Revenue Virtual Service Center (e-CAC): check filed returns and tax status
• Your broker: support for issuing the Income Statement and clarifications on values

If you have more complex questions — such as loss compensation, inheritance, or investments in a minor’s name — consider consulting a CVM-registered accountant or financial advisor.

Conclusion

Reporting Treasury Direct on your Income Tax return is simpler than it seems, as long as you have the Income Statement in hand and follow the basic logic: assets you own go in Assets and Rights; income received goes in Income Subject to Exclusive Taxation (or Exempt, as applicable). The tax itself has already been automatically collected — your task is simply to correctly record what happened.

The most important thing is to not leave out any securities and always use the values provided by the financial institution, which already make the correct separation between principal, taxable income, and exempt income. This way you keep your tax situation in order and avoid unpleasant surprises from the Federal Revenue Service.

If you’re thinking about diversifying beyond Treasury Direct, also check out our content on investing beyond savings: options that pay better to expand your portfolio in a conscious and informed way.

This article is exclusively educational and informational in nature. It does not constitute investment recommendation, financial advice, or personalized tax consultation. Tax rules and deadlines can be changed by the Federal Revenue Service at any time — always consult official sources. For investment decisions or tax planning, seek a qualified professional or investment advisor registered with the CVM.