Model 720: Obligation to declare assets and rights located abroad

On March 31, 2021, the deadline for submitting to the Tax Agency the annual informative return on assets and rights located outside of Spanish territory ends through form 720.

Who is obliged to file the declaration?

All natural and legal persons residing in Spanish territory who as of December 31, 2020 (or at any time in 2020) have found themselves in any of these situations:
  • That they have been owners, representatives, authorized, beneficiaries or have had power of disposal over current accounts in financial entities located abroad.
  • They have been holders of securities, rights, life or disability insurance and life or temporary income deposited, managed or obtained abroad.
  • That they have been owners of real estate or real rights over real estate located abroad.

What goods and rights should be reported?

  • Block 1: Current accounts and deposits in financial entities located outside of Spanish territory, when the balances at 12/31/2020 or the average balances for the last quarter of 2020 together exceed 50,000 euros.
  • Block 2: Shares, obligations, participations in entities and investment funds, rights, life or disability insurance and income, life or temporary, deposited, managed or obtained abroad, when their value at 12/31/2020 is, jointly , greater than 50,000 euros.
  • Block 3: Real estate and rights thereon located abroad, provided that their combined value is greater than 50,000 euros.

When must the declaration be filed?

The deadline to present ends on March 31, 2021.

If I made the declaration in previous years, should I re-file Form 720?

It will be mandatory to make the declaration again with respect to the year 2020 when the balances or values of the goods and rights declared in the last declaration have experienced an increase in value of more than 20,000 euros.
Likewise, it will be mandatory to make the declaration again when during 2020 the condition of owner, authorized, representative or beneficiary of the accounts, securities or real estate declared in the previous declaration has been lost.

What other obligations related to assets abroad exist?

In addition to Form 720, taxpayers with assets abroad may be obliged to complete their reporting obligations with the Bank of Spain, through the ETE form, and with the Ministry of the Economy, through Form D-6, whose deadlines The submission period ends on January 20 and 31 respectively. These are informative returns for statistical purposes and that only affect the holding of certain types of assets abroad.
For any questions or clarification, you can contact Virginia Cirera (
Very cordially,
CINC Business Consulting


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