Purpose and the right form
Modelo 720 is an information return for covered assets and rights abroad, including foreign accounts, specified investments and insurance, and real estate. A reporting obligation is not the same as a tax payment. Check residence, exemptions and each asset category.
What to prepare
Collect account and institution details, year-end and relevant average balances, acquisition values and dates, ownership percentages, investment or insurance information, property records and your previous 720 returns.
Spanish fields to review
Check asset-type and ownership codes, country, valuation rules and whether the record is new, previously reported or terminated. A single total for all worldwide assets is not an adequate category-by-category assessment.
Reporting thresholds need separate checks
The usual initial threshold is more than €50,000 for the relevant information block, not a single combined allowance for all asset types. Different account-balance and valuation tests apply. Later reporting can arise after an increase exceeding €20,000 compared with the last required declaration, or from termination of a previously reportable position. Exemptions and special tax-regime rules require their own review.
How to submit yourself
Open the official AEAT service below and select the correct year and period. Identify yourself using a method accepted by that service, or use an authorised representative. Complete the form, validate it, correct blocking errors and review warnings. Select the appropriate payment or result option. Finish the official signing and sending process yourself. Download the filed declaration and receipt with its verification code; a saved draft, preview or payment alone is not proof of filing. Use the official web form or compliant file route. A saved session is not submission. After filing, check which records were accepted and correct omitted or erroneous records using AEAT’s procedure.
Deadlines and payment
The ordinary window is 1 January–31 March of the following year. Repeat-reporting rules consider changes since the last required declaration and terminations, so do not assume that either annual repetition or no further filing is always correct.
Common mistakes and next steps
Modelo 720 does not report virtual currencies; Modelo 721 is a separate procedure where applicable. Do not infer exemption from 720 only from a visa type or a pending special-regime application.