Anyone outside Brazil who is entitled to withdraw the balance of their inactive account from the Severance Indemnity Fund (FGTS) by the end of 2015, according to the payment schedule released by the government, should pay attention to the rules provided by Caixa Econômica Federal. The rules differ for those who have an account at Caixa and those who are not account holders of the bank.
Since March, more than 30 million workers may have the right to withdraw the money. According to the government, there are over R$ 43 billion idle in these accounts, and the government estimates that, of this total, R$ 34 billion will be withdrawn by workers by July 31.
• If you are a Caixa account holder: A worker who is abroad and has a checking or savings account at Caixa can choose to receive the money directly through automatic transfer, without needing to go to the consulate.
• If you are not a Caixa account holder: If the worker does not have an account at Caixa, they must obtain the “FGTS Withdrawal Request” form from Caixa’s website, visit a Brazilian government consulate in the country where they are, and present the completed form, along with the documentation (original and copy) that proves the right to move the linked account.
See here the list of consulates in the United States authorized by Caixa to receive withdrawal requests:
• Atlanta: 3500 Lenox Rd, Suite 800, Atlanta, GA 30326 / (404) 949-2400
• Boston: 20 Park Plaza, Suite 1420, Boston, MA 02116 / (617) 542-4000
• Chicago: 401 North Michigan Avenue, Suite 1850, Chicago, IL 60611 / (312) 464-0244
• Hartford: One Constitution Plaza, Ground Floor, Hartford, CT 06103 / (860) 760-3100
• Houston: Park Tower 1233 West Loop / (713) 961-3063
• Los Angeles: 8484 Willshire Boulevard, Suite 300, Beverly Hills, CA 90211 / (323) 651-2664
• Miami: 80 SW 8th St – 26th Fl., Miami, FL 33130-3004 / (305) 285-6200
• New York: 1185 Ave. of the Americas, 21st Floor, New York, NY 10036-2610 / (917) 777-7777
• San Francisco: 300 Montgomery St., Suite 300, San Francisco, CA 94104 / (415) 981-8170
• Washington: 1030 15th Street, N.W., Washington, DC 20005 / (202) 461-3000
According to Caixa, the “FGTS Withdrawal Request” must be signed in the presence of the consular representative. The amounts will be credited to a bank account that is in the worker’s name. If the worker does not have a bank account in Brazil, they may indicate the account of someone they trust.
The funds are released within up to 15 business days after the documentation is submitted, conditioned upon certification that the required conditions for moving the FGTS linked account have been met, according to the bank.
Forecast for Withdrawals
The withdrawal of inactive FGTS began on March 10 for workers who resigned or were dismissed for just cause until December 2015. The withdrawal follows a schedule according to the beneficiary’s date of birth. Due to the release of the money, Caixa Econômica Federal has made available a dedicated website for information and balance inquiries only for inactive accounts: www.caixa.gov.br/contasinativas, and the telephone service 0800 726 2017. Interested parties can also access information through the Caixa app, but in this case, active FGTS accounts will also appear. Caixa Econômica Federal branches will open on three Saturdays until July, to serve only those interested in withdrawing the money. A total of 1,891 branches will be open on the following Saturdays: May 13, June 17, and July 15. The hours of operation will be from 9 AM to 3 PM.
By Marta Cavallini and Taís Laporta
Source: G1 and caixa.gov.br