Do I have to declare my foreign bank accounts, investments and property in Spain (Modelo 720)?

Checked on 2026-10-25

Yes, if you are resident in Spain and, at 31 December, one category of your foreign assets exceeds €50,000: bank accounts, securities and insurance, or real estate. You file Modelo 720 online between 1 January and 31 March of the next year. Later years you file again only if a category grew by more than €20,000.

Key facts

What	The law says	Source
Who must report	Individuals resident in Spain (also companies and others)	Ley 58/2003, DA 18; RD 1065/2007, arts. 42 bis.1, 42 ter.1, 54 bis.1
Bank accounts abroad	Report all accounts if the joint balances at 31 December, or the joint average balances of the last quarter, exceed €50,000	RD 1065/2007, art. 42 bis.4.e
Securities, funds, life and disability insurance, annuities abroad	Report all of them if their joint value exceeds €50,000	RD 1065/2007, art. 42 ter.4.c
Real estate abroad	Report all of it if its joint value exceeds €50,000	RD 1065/2007, art. 54 bis.6.d
Who counts as holder	Account holders, representatives, authorised persons, beneficiaries, anyone with power of disposal, and beneficial owners	RD 1065/2007, art. 42 bis.1; Ley 58/2003, DA 18
Deadline	1 January to 31 March of the year after the year reported	RD 1065/2007, arts. 42 bis.5, 42 ter.5, 54 bis.7; Orden HAP/72/2013, art. 7
Later years	File again only when a category’s joint value grew by more than €20,000 since your last Modelo 720	RD 1065/2007, arts. 42 bis.5, 42 ter.5, 54 bis.7
How	Online at the Tax Agency’s electronic office; you need an NIF	Orden HAP/72/2013, arts. 4, 5.2.a

Three separate €50,000 tests

The regulation sets a separate €50,000 limit for each kind of asset: accounts (art. 42 bis), securities, insurance and annuities (art. 42 ter), and real estate (art. 54 bis). Within a category, once the limit is exceeded you report every item in it, not only the part above €50,000.

For accounts, there are two figures: the balances at 31 December and the average balance of the last quarter. If either joint figure is above €50,000, you report all your foreign accounts.

What you report

For accounts, the regulation lists: the bank’s name and address, the full account identification, the opening or closing date (or the dates your authorisation started and ended), and the balances at 31 December and the average balance of the last quarter (RD 1065/2007, art. 42 bis.2).

If you closed an account during the year

The obligation also covers people who were holders, authorised persons or beneficiaries at any time during the year. They report the balance on the date they stopped being one, and for those accounts the declaration is compulsory in all cases (RD 1065/2007, art. 42 bis.1, 42 bis.3, 42 bis.5). For real estate sold during the year, you also report the sale value and date (art. 54 bis.5).

Crypto held with foreign custodians is reported separately, with the same €50,000 and 31 March rules. See the page on Modelo 721.
When you become resident: see the page on the 183-day rule (Ley 35/2006, art. 9).

Sources

Change history

2026-10-25: Page created

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