The Normative Instruction (IN) of the Federal Revenue No. 2060/2021, which will come into force on January 1, 2022, comprises the Income Paid and Withholding Income Tax Statement.
Regarding the Income Statement, the IN informs that “the individual or legal entity that has paid the individual income with withholding income tax during the calendar year, even in a single month, shall provide the Income Paid and Withholding Income Tax Statement, according to the model in Annex I to this Normative Instruction.”
Second chapter of the publication refers to the deadline for delivery of the statement to the beneficiary, which must be provided by the last business day of February of the year following the payment of income or upon termination of the employment contract, if it occurs before that date.
In case of failure to deliver the statement to the beneficiaries, the paying source is subject to the payment of a fine of BRL 41.43 (forty-one reais and forty-three cents).

If false information is provided about income paid, deductions or IRRF, the fine is lower, in the amount of 300% on each omitted or added amount that causes an undue reduction or increase in the tax to be paid.
Annex I of the new IN has the model of the aforementioned statement, while Annex II contains instructions for filling it out.
See full text published in the Federal Official Gazette: https://www.in.gov.br/en/web/dou/-/instrucao-normativa-rfb-n-2.060-de-13-de-dezembro-de-2021-367486045
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