Reporting Assets Outside Spain. Form 720



In the model must be declared,

  1. accounts abroad in financial institutions,





  1. Current account.
  2. Savings account.
  3. Term deposits.
  4. Credit accounts.
  5. Other accounts.







  1. Ownership of the property.


Information to provide



  1. Holder
  2. Representative
  3. Authorized
  4. Beneficiary
  5. Usufructuary
  6. Taker
  7. With power of disposal
  8. Other forms of real property





Cooperation with other States





Example of filling in data for a current account

Frequently asked questions:


the following questions and answers are taken from the AEAT website:






    • The complete identification of the account.
    • The date of the revocation of the authorization.

4. Do I need to declare pension schemes contracted abroad?





Yes, provided that no if no cause of exoneration.










429 respuestas a Reporting Assets Outside Spain. Form 720

  1. Jeff dijo:

    I have more than 50,ooo euros worth in bank accounts outside Spain and I understand that I have to declare this in the modelo 720. I also have around 7,000 euros worth in stocks, so do I also have to declare anything in the investments category or do I declare only the bank account category (which is the only category where I will exceed 50,ooo)?
    Many thanks,

  2. Jeff dijo:

    I have more than 50,000 euros worth in bank accounts outside Spain, so I understand that I have to declare this. I also have some shares held in the UK. Do I have to declare only under the bank account category in modelo 720? Or will I also need to declare the shares under investments?
    Many thanks.

  3. john dijo:

    Are cash ISAs and Premium Bonds under a different category? C2 and V2 respectively?
    In which case, if each of those does not reach €50,000, none needs to be declared?


  4. John dijo:

    We own a property in London I bought it in 2005 for GBP 295,000 (304,837 including taxes). It is not freehold we own a lease until 2112 (103 years). We can convert to freehold by paying about GBP 20k now, this price increases with time. If the freehold owner (us for now) doesn’t pay it the house reverts back to the freehold owner in 2112.

    On 11 December 2017 my wife’s name was added to the property as a ‘joint tenant’ this was before we moved to Spain. She did not pay for this and in the registry the official price paid is still the price I paid in 2005 (295k)

    In the UK a ‘joint tenant’ means you
    you have equal rights to the whole property
    the property automatically goes to the other owners if you die
    you cannot pass on your ownership of the property in your will

    So you could say we both own the property 100% and at the same time 0%. The other joint ownership type in the UK lists exactly the % owned by each person

    Do we have different acquisition dates and valuations? What % do we each own?

    It is a leasehold property, we do not own the freehold. Do we value it using the usufruct tables based on our age?

    Or in other words what would you fill in for each of us in the modelo 720?

    We presently live in Madrid but will one day move to Andalucia so I don’t want to overvalue the property in case we have to pay wealth tax

    • Yes you have different acquisition prices. Each one valuation price of 100% of the real estate when registered as owner.

      In this case I will register it in 720 for as 50% and 50%.

      Yes as you both are as owners in property registry both should fill 720

      In 720 form you report 100% of asset value.

      In wealth tax each declare only valuation of his/her percentage. And there is an exempion of wealtax for 700.000 for each one of you. And now exchange rate is almost 1,1 euro per GBP

  5. Brenda dijo:

    Hi, we have some rental properties in Spain where we are currently residing. We are thinking about moving outside of Europe in the future. If we do go abroad, I understand that we would have to file a non-resident tax form on our earnings from the properties. My question is, the declaration of income would be net, right? I mean income minus expenses, correct?

  6. John dijo:

    How do I calculate the average balance for a bank account to report in the modelo 720? Some of my bank accounts are open for many many years…what do I input for the opening date of the account when I have no idea what the date is?

    • Average balance is not mandatory if your bank does not calculation of it.

      But oppening date of account is an IMPORTANT data. You must find it, bank for sure has, as all banking contracts are stored and dated.

  7. Jesus dijo:

    Hi Javier,

    I have been resident in the UK for several years 2010 to 2017, but I´m resident in Spain from 2018. As I have more than 50k in cash and stocks I have to do the 720.

    I have a couple of doubts:

    1) How should I declare the cash parked in my broker (Interactive Brokers), as I don’t have an IBAN for that cash. And it’s also in 5 different currencies.

    2) How should I declare the cash I have in Premium Bonds and Income Bonds with the UK National Savings and Investments service? I talked to them and they can´t provide an IBAN for those accounts.

    Hope you can help me, I’m sure many spaniards and british living in Spain should have the same issues.

    Kind regards.

    • Stocks and liquidity are declared with different codes.

      Liquidity in brokerage account is declared as account without IBAN,

      Bonds are declared with ISIN code. Premium Bonds do not have ISIN, so declare them with code 2 and number of your account en NSI

  8. Brenda dijo:

    Hi there! I have a question about reinvesting the gains from a sale of a primary residence in Spain. We are currently living in our primary residence in Spain where we are currently also fiscal residents. We would like to sell our home and reinvest the gains on a new primary residence in the US. I know that when we sell in Spain we are allowed two years to reinvest the gains in another primary residence in Spain or Europe. But in our case we would be moving to the US for work and that is where we would like to reinvest. Is this possible or will we have to pay capital gains on the sale because the reinvestment will be done in the US?

    • Yes, it is possible to reinvest in a primary residency, in another country.
      From the date of selling at the notary you have until the same date two years after, to reinvest. You will need to get a public or official document for proving that you did in time.
      Try to do it faster, so you keep your spanish tax residency.

      • Brenda dijo:

        So it makes no difference that the country is outside the EU?
        Finally, what are the tax implications if I don’t reinvest quickly as you suggest. In other words, when I am no longer a tax resident of Spain. I am asking because I would likely like to wait a year before reinvesting, and by then I would no longer be a Spanish tax resident. Why does the timing matter if the reinvestment is done within the 2 year period?

        • Exempion for reinvesting in first residency is in Inconme Tax Law for residents.
          This expemtion is granted in tax year that you sell your residency. Even if you dont fulfil yet reinvesting, but you plan to do it before this two years time.
          Does not matter if you move after selling abroad, and you reinvest abroad in a new first residency, as long as new residency is at least same price as the price of selling old one, and as long as you buy a new residency within this two year time.

          IF this sell happens 22nd Dec 2018, on your tax return for 2018 you need to state capital gain, and apply for exempion in this capital gain claiming you plan to reinvest.
          It is ok if you reinvest in a different country or even as non resident, as long as you do before 22 Dec 2020.
          If you do it after this date, you will need to amend your tax return for 2018 and pay tax for this invalid reinvesting exemption.

  9. Peter John Kendal dijo:

    Hola Javier:
    La última vez cuando hemos tenido que hacer el Modelo 720 ha sido para el año 2014. Desde entonces nuestros fondos en el extranjero han reducido. Por eso hemos consolidado el restante del dinero en solo dos de las cuentas originales y hemos cerrado las otras tres durante 2017.
    ¿A pesar del hecho que ahora tenemos menos dinero tenemos que declarar el Modelo 720 para 2017? Como entiendo lo que he leido parece que si pero no entiendo el porque.

  10. Ron dijo:

    Last year my wife and I reorganised our banking out of Spain, closing four accounts and opening one new one. We did not not exceed the 20k increase in our assets. What do we need to declare this year? Thanks.

    • Jaime Lizana dijo:

      Closings must always be declared in case what has been closed had been previously declared.

      • Paul Hackney dijo:

        I am facing the need to file my first ever Modelo 720 for 2018.
        I am intending to close unnecessary accounts and cash in some unwanted fondos de inversion outside of Spain before the end of the year.
        Even after this i will still be over 50,000€ in both categories and so need to report.
        My question is whether i need to report the closure of accounts in 2018 for which there was never a requirement to declare before 2018.

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