Form 720: Obligation to declare assets and rights located abroad

31 March 2022 is the deadline for submitting the annual information return on assets and rights located outside Spanish territory to the Spanish Tax Agency via form 720.

Who is obliged to file the declaration?

All natural and legal persons resident in Spanish territory who on 31 December 2021 (or at any time in 2021) were in any of these situations:
  • Who have been holders, representatives, authorised persons, beneficiaries or have had power of disposal over current accounts in financial institutions located abroad. 
  • Who have been holders of securities, rights, life or disability insurance and life or temporary annuities deposited, managed or obtained abroad. 
  • Who have been holders of real estate or rights in rem over real estate located abroad.

What assets and rights must be reported?

  • Block 1: Current accounts and deposits in financial institutions located outside Spanish territory, when the balances at 31/12/2021 or the average balances in the last quarter of 2021 together exceed 50,000 euros. 
  • Block 2: Shares, bonds, shares in investment entities and funds, rights, life or disability insurance and annuities, life or temporary, deposited, managed or obtained abroad, when their value at 31/12/2021 is, jointly, greater than 50,000 euros. 
  • Block 3: Immovable property and rights thereon located abroad, provided that their combined value exceeds 50,000 euros.
  • Block 4: Virtual currencies located abroad, provided that their combined value on 31/12/2021 exceeds EUR 50,000.

When must the declaration be submitted?

The deadline for submission is 31 March 2022.

If I filed the return in previous years, do I have to file Form 720 again?

It will be obligatory to make the return for 2021 when the balances or values of the assets and rights declared in the last return have increased in value by more than 20,000 euros.
Likewise, it will be obligatory to make the return again when during 2021 the status of holder, authorised person, representative or beneficiary of the accounts, securities or real estate declared in the previous return has been lost.

What other obligations related to assets abroad are there?

In addition to Form 720, taxpayers with assets abroad may be obliged to comply with the reporting obligations with the Bank of Spain, through form ETE, and with the Ministry of Economy, through Form D-6, whose filing deadlines are 20 and 31 January respectively. These are informative declarations for statistical purposes and only affect the holding of certain types of assets abroad.
If you have any doubts or queries, please contact our Tax Department (
Yours sincerely,
CINC Asesoria de empresas.

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