Note
Modelo 720: declaration of assets abroad for Spanish residents
Quick answer
Modelo 720 is an information return for assets located abroad. It applies to individuals resident in Spanish territory. A threshold of 50,000 euro applies to each block of assets, and for real estate the combined value is used. The period for exercise 2025 was 1 January to 31 March 2026.
Applies toPeople who are or are about to become Spanish tax residents and hold accounts, investments or property abroad.
On this page: 8 sections
§ 1What it is
Modelo 720 is an information return on assets and rights located abroad. It is not a tax: it is a declaration. It matters for people who become Spanish tax residents, because it can be a new duty for them. The points below come from the tax agency, and the residence rules behind them are in an overview of Spanish tax residence.
§ 2Who must file
The agency states that the obligation applies to individuals resident in Spanish territory, and adds categories such as certain officials treated as residents and heirs of undivided estates. The agency notes that a person who moved abroad during a year is bound only if the rules require it. A non-resident owner of a Spanish home does not file it for that home, since the return concerns assets located abroad. The full picture of residence is in how becoming tax resident works.
§ 3The threshold
The agency’s examples apply a limit of 50,000 euro to each block of assets. For accounts, it compares the year-end balance and the average balance of the last quarter. For securities and funds, it uses the year-end value. For real estate, it uses the combined value of the properties. If the combined value of the properties is below the limit, no property is reported. If it is above, all are reported. A later sale of a previously reported asset must also be reported.
§ 4When
The agency states the filing period for exercise 2025 as 1 January to 31 March. The periods are published each year, so check the current page for the exercise you need. If the return cannot be filed online by technical reasons, a short extension is allowed, according to the agency.
§ 5Crypto-assets
The agency states that virtual currencies are not reported in this model, and that a separate return on virtual currencies abroad was not required for exercise 2022. Rules in this area change, so check the current position with an adviser.
§ 6Penalties and rules
The rules on penalties for this return have been the subject of legal challenge and reform. We do not state them, because we did not read an official text that sets out the current position. Ask a tax adviser about the rules that apply to the year you need, and file on time.
§ 7Preparing
Before you move, list your foreign accounts, investments and property with their values at the end of the year. Update the list each year. If you will be resident in Spain, include the filing in your calendar. The treatment of foreign property of residents is a separate topic to the Spanish home covered in the costs section.
§ 8More on this topic
How the centre of economic interests works explains the economic base test and Tax residency TIE breaker treaty Spain explains how treaties decide dual residence.
FAQRelated questions
Who has to file it?
Individuals who are resident in Spanish territory, among others named by the agency, when their assets abroad pass the thresholds. A non-resident owner of a Spanish home is not the target of this return, which concerns assets located outside Spain.
How is the threshold applied?
Per block of assets, with accounts compared at year-end and by the last-quarter average, securities by year-end value and real estate by combined value. Check the agency’s examples for your case and ask an adviser.
When is it filed?
The agency’s page gives the period for exercise 2025 as the first quarter of 2026. Deadlines and formats are published each year, so check the current page. Filing late or not at all can attract penalties, which your adviser can explain.
Sources
- Agencia Tributaria: Modelo 720: forma de calcular el límite que obliga a declarar (official source, opens in a new window), Threshold examplesLast checked 17 October 2026
- Agencia Tributaria: Modelo 720: plazos de presentación (official source, opens in a new window), Filing periodLast checked 17 October 2026
- Agencia Tributaria: Modelo 720: preguntas frecuentes, contribuyentes obligados a declarar (official source, opens in a new window), Who must fileLast checked 17 October 2026
Legal note. How the process works in general. It is not legal advice, and it never replaces an independent Spanish lawyer acting for you.