Tax Calendar
Form 720
Informative declaration of assets and rights held abroad — bank accounts, securities and real estate outside Spain.
Informational content updated to 2026. Deadlines, amounts and percentages shown on this page may change due to regulatory updates. For your specific case, please consult with our certified professionals before taking action. Schedule free consultation →
What is Form 720?
Form 720 (Modelo 720) is the mandatory informative declaration of assets and rights located abroad held by individuals or companies who are tax residents in Spain. It is a purely informative obligation: Form 720 does not assess any tax or generate a direct payment.
There are three categories of declarable assets: (1) bank accounts at foreign financial institutions; (2) securities, rights, life insurance or annuities deposited at foreign entities; (3) real estate located abroad and rights in rem over such property.
The Form 720 penalties regime was reformed by Law 5/2022 following the CJEU ruling of 27 January 2022 (Case C-788/19), which found the prior sanctions disproportionate. The penalties currently applicable differ significantly from the previous ones and depend on the specific circumstances of each case. For any matter related to Form 720, we strongly recommend consulting our specialists in international taxation.
Who must file?
- Individuals and companies tax-resident in Spain who are holders of or authorised signatories on foreign bank accounts with a balance exceeding €50,000 at 31 December (or where the maximum balance during the year exceeds this threshold).
- Spanish tax residents holding securities, shares, investment funds, life insurance or annuities at foreign entities with a value exceeding €50,000.
- Spanish tax residents owning real estate abroad with an acquisition value exceeding €50,000.
- The €50,000 threshold applies independently per category (categories are not aggregated).
Exceptions and exemptions:
- Those who previously filed Form 720 and the value of their assets has not changed by more than €20,000 from the last declared value in each category.
- Those with foreign assets below the €50,000 threshold per category.
- Certain entities may benefit from additional exemptions depending on their legal nature. Consult our specialists in international taxation to confirm whether your entity qualifies.
Filing deadlines
| Period | Deadline |
|---|---|
| Full calendar year | By 31 March of the following year Form 720 for 2025 is due by 31 March 2026. |
A new filing is only required if the thresholds are exceeded for the first time, or if the value in an already-declared category has changed by more than €20,000 from the last filed return.
How to file
- 1 File electronically — mandatory — at sede.agenciatributaria.gob.es.
- 2 Log in with a digital certificate or Cl@ve.
- 3 Select Form 720 and the tax year.
- 4 For each asset or right: enter the category, country, custodian institution (bank, broker), account or reference number, balance or value at 31 December, and maximum balance/acquisition value.
- 5 Submit the return and save the confirmation.
Required documentation
- Foreign bank statements showing year-end balance and maximum balance during the year.
- Certificates of foreign securities or investment funds with value at 31 December.
- Purchase deeds or documents for foreign real estate with the acquisition price.
- Life insurance or annuity contracts at foreign entities.
- Details of each foreign institution: name, country, foreign tax ID if applicable.
Penalties for non-compliance
- IMPORTANT: The penalty regime was reformed by Law 5/2022 following the CJEU ruling of January 2022.
- The former penalties proportional to the value of assets (150% of the differential tax quota, or minimum €5,000 per data item) are no longer applicable in their original form.
- The Form 720 penalties regime was reformed by Law 5/2022 following the CJEU ruling of January 2022. The penalties currently applicable differ significantly from the previous ones and depend on each individual case. It is essential to consult a specialist in international taxation for any question related to Form 720 and its consequences.
Given the significant legislative and jurisprudential changes to the Form 720 penalties regime, specialist advice is essential before making any decision.
Last reviewed: June 2026. Tax regulations change frequently — check our tax calendar or contact our professionals for advice tailored to your situation.
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