Model 720 - Disclosure statement of assets and rights located abroad

Who has to submit it?

  • Natural and legal persons residing in Spain.
  • Permanent establishments in Spain of non-resident persons or entities.
  • Inherited inheritances, communities of assets and other entities that, lacking legal personality, constitute an economic unit or a separate patrimony susceptible of taxation.


What data must be declared?

  • Real estate and rights to real estate located abroad.
  • Accounts in financial entities located abroad.
  • Security titles or royalties located abroad.
  • Capital Shares of collective investment institutions located abroad.
  • Life and disability insurance when the insurance company is located abroad.
  • Life annuity obtained as a result of cash disbursement, economic rights or supply of movable or immovable property to entities located abroad.


When do you have to declare this information?

In the first declaration, when the amount of any group of the aforementioned assets or rights exceeds the amount of € 50,000. In the event that said limit is exceeded with any of the groups, the totality of assets and rights owned by each group must be reported, regardless of their individual value.

In the cases of second declarations, there will only be an obligation to submit the declaration when the value of assets or rights previously declared has increased by at least € 20,000; or when there are owners, representatives, authorized persons, beneficiaries, persons with powers of disposition or real owners, who have ceased to have such condition.

What is the deadline?

The presentation will be made between January 1 and March 31, 2021 related to the information of 2020.

What happens if you don't submit the model or if you submit it after the deadline?

Do no submit or submit after the deadline will carry severe penalties, since it is considered a very serious infringement. The minimum penalty is € 10,000, which will increase by € 5,000 for each piece of information or data set that should be declared.

For more information, contact our Tax Department.