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Spanish form 720 calculator

Check whether you have to file Spain’s form 720 this year, whether a first declaration obliges you to file again, and what the penalty is today under the regime that replaced the one the Court of Justice of the European Union struck down.

What you held abroad on 31 December add up everything in each block, without pro-rating for your ownership share
Do you file form 720?
Yes
Blocks you report
Accounts · Securities
Filing deadline
31 March 2026
Each magnitude against the €50,000 threshold
Accounts: joint balance at 31/12art. 42 bis RGAT€45,256.00 · under the threshold
Accounts: joint Q4 average balanceart. 42 bis RGAT€58,900.00 · over the threshold
Securities, insurance and annuities: joint valueart. 42 ter RGAT€55,900.00 · over the threshold
Property: joint acquisition valueart. 54 bis RGAT€0.00 · under the threshold
Threshold for each block€50,000.00
  • The threshold is measured on the TOTAL balance or value of the asset, not on your share: if you hold 30 % of a €150,000 account, you report a €150,000 account and state the 30 %.
  • The accounts block has two magnitudes and only one has to pass €50,000. An account emptied on 30 December is reported on its fourth-quarter average alone.
  • Property is measured by its ACQUISITION VALUE, not by what it is worth today: a flat bought in 1998 for €40,000 stays out even if it is worth €400,000 now.
  • Everything is converted into euros at the 31 December exchange rate of the year reported, including the acquisition value of a property bought twenty years ago.
  • If you are self-employed and keep accounts under the Commercial Code, individually recorded bank accounts and property fall outside the duty, but securities do NOT: article 42 ter contains no such exception.
  • Securities, insurance and annuities are valued under the Wealth Tax Act rules, not at the price you paid.
  • Crypto assets held abroad do not go on form 720: they have their own form 721, with its own €50,000 threshold.
  • It does not cover the Basque Country or Navarre: the foral authorities regulate their own version of this declaration.
The deadline, day by day

From 1 January to 31 March of the following year, moved on by article 30.5 of Law 39/2015 if it falls on a Saturday, Sunday or national holiday.

Dates of the filing window
Window opens1 January 2026
Date the Order sets31 March 2026
Last day to file31 March 2026
Tail for a technical failureart. 6.2 of the Order, 3 calendar days3 April 2026

General information, not tax advice. Thresholds and penalties turn on facts only you know; confirm your case with an adviser or with the Spanish tax agency.

Each of the three blocks is measured separately against €50,000.00: they are never added together.

1

Three blocks, three thresholds, and no adding up between them

Form 720 gathers three separate reporting duties and each is measured against its own €50,000: bank accounts under article 42 bis, securities, insurance and annuities under article 42 ter, and property under article 54 bis. Nothing is aggregated across blocks, so you can hold €30,000 in each of the three, €90,000 in total, and file nothing at all. In the other direction, passing the limit in one block means reporting that whole block, including the small accounts or assets inside it.

2

The date it is measured on, and the one almost nobody checks

The snapshot is always 31 December. Securities are taken at their joint value on that date; property at its acquisition value, not its market value, so a flat bought in 1998 for €40,000 stays out however much it is worth now. Accounts are the exception: alongside the 31 December balance the fourth-quarter average balance is measured too, and either one passing €50,000 opens the whole block. Everything is converted into euros at the 31 December rate of the year reported, including the price paid twenty years ago for a house in dollars.

3

When you have to file it again

Once filed, the declaration is only repeated when one of that block’s magnitudes grows by more than €20,000 over the figure that determined the LAST declaration actually filed, and that reference is the point: it is not last year’s. The agency explains it with an example in which two small annual rises, neither reportable on its own, accumulate to €28,000 against a declaration filed two years earlier and reopen the duty. There is also a second route that ignores the amount entirely: if you stop being the holder, the authorised person or the beneficiary of something you already reported, that block is filed again in any event.

4

The penalty today, and the one an older guide will tell you

Form 720 settles no tax, so the only figure at stake is the penalty, and that is exactly what changed. Since 11 March 2022 the general regime applies: €20 per data item or set with a €300 floor and a €20,000 ceiling if you do not file, half of all of it (€10, floor €150) if you file late of your own accord, and articles 199.4 and 199.5 if you file on time with the wrong data or the wrong amounts. The tax agency adds a detail that multiplies the bill: the penalties apply independently to each of the three reporting duties, so anyone who misses all three meets the minimum three times.

5

Crypto assets go on a different form

The eighteenth additional provision has a fourth limb, added in 2021, for virtual currencies held abroad, and article 42 quater of the Regulation has implemented it since 2023. It does not travel on form 720: it has its own form 721, approved by Order HFP/886/2023, with its own €50,000 threshold and the same 1 January to 31 March window. They count as held abroad when whoever custodies them is not required to file the Spanish informative return on virtual-currency balances.

Worked example

An example, and these are the Spanish tax agency’s own figures. On 31 December a resident holds a foreign investment fund worth €55,900 and a foreign current account whose 31 December balance is €45,256 and whose fourth-quarter average balance was €58,900. They also sold an apartment on 30 August, so on 31 December they hold no property abroad. The calculator answers that form 720 is due for two blocks: securities, because €55,900 passes €50,000, and accounts, not on the 31 December balance, which stops at €45,256, but on the quarterly average. The property block stays out. Now move one figure: drop the average to €49,000 and the accounts block disappears from the answer with the same year-end balance, which is precisely the mistake any tool that only looks at 31 December makes. And had the declaration never been filed and the tax office found it, twenty data items in one block cost €400 today against the €100,000 the regime repealed in 2022 would have charged: two hundred and fifty times less.

Frequently asked questions

What is Spain’s form 720 and who has to file it?
It is the annual informative return on assets and rights held abroad, governed by the eighteenth additional provision of the Spanish General Tax Act. It is filed by individuals and companies resident in Spain, by Spanish permanent establishments of non-residents and by the entities of article 35.4 of that Act, when they pass the €50,000 threshold in any of its three blocks: financial accounts, securities with insurance and annuities, and property. It settles no tax: it only reports.
What is the penalty for not filing form 720 in 2026?
The general regime of the General Tax Act, because the special regime was removed by Law 5/2022 after the CJEU judgment of 27 January 2022. Not filing costs €20 per data item or set, with a €300 minimum and a €20,000 maximum, for each of the three blocks missed. Filing late on your own initiative, with no prior demand, halves both the penalty and the two limits: €10 per item with a €150 minimum. Paying in period without appealing takes a further 40 % off.
Do the 150 % fine and the imprescriptibility still exist?
No. The 150 % proportional fine sat in the first additional provision of Law 7/2012 and now reads as repealed. The imprescriptibility sat in article 39.2 of the Personal Income Tax Act, which attributed the undeclared asset to the oldest tax period not yet time-barred, and in article 121.6 of the Corporate Income Tax Act; both were removed with effect from 11 March 2022. It is once again possible to prove that you owned the asset before the limitation period began.
When do you have to file form 720 again?
When one of a block’s magnitudes grows by more than €20,000 over the figure that determined the last declaration filed for that block, or when you stop being the holder, authorised person, beneficiary or attorney of something you already reported. The baseline is not the previous year but the last declaration actually filed, so several small rises can accumulate past €20,000 and reopen the duty even though none of them would on its own.
Does the €50,000 threshold apply to my share or to the whole asset?
To the whole asset. The Spanish tax agency settles it with an example: an account holding €150,000 at 31 December, owned 70 % by a company and 30 % by an individual, obliges that individual to report an account of €150,000 and state their 30 % share, even though their part is €45,000. The total balance is reported without pro-rating. The same goes for a property or any other asset with several owners.
Do crypto assets go on form 720?
No, they go on form 721, which has existed since the 2023 tax year and is filed in the same 1 January to 31 March window. It covers virtual currencies held abroad and custodied by someone providing private-key safeguarding services on behalf of third parties, with its own €50,000 threshold. Article 42 quater of the Regulation treats them as held abroad when the custodian is not required to file the Spanish informative return on virtual-currency balances.
Does filing late trigger a surcharge?
No. The late-filing surcharge of article 27 of the General Tax Act is computed on the amount payable resulting from a self-assessment or on the assessment derived from a late return, and form 720 produces neither, because it settles no tax. The only thing that applies is the article 198.2 penalty, at half the amount and half both limits because you acted before any demand.
What is the deadline for form 720?
From 1 January to 31 March of the year following the one reported, under article 7 of Order HAP/72/2013. The 2025 return is due on 31 March 2026, which is where the taxpayer calendar itself places it. If 31 March fell on a Saturday, Sunday or public holiday, article 30.5 of Law 39/2015 moves it to the next working day, and the Order adds a three calendar-day tail when a technical failure prevents filing online.
What if I am self-employed and keep formal accounts?
The bookkeeping exemption exists, but it does not reach all three blocks equally. If you are an individual carrying on an economic activity and keep accounts under the Commercial Code, individually recorded and sufficiently identified accounts and property fall outside the duty, under articles 42 bis.4.c) and 54 bis.6.c). Securities, though, stay in: the tax agency says so expressly, because that exception was not written into article 42 ter.
Does this form apply in the Basque Country and Navarre?
No. The foral authorities of Álava, Bizkaia and Gipuzkoa and the Chartered Community of Navarre regulate their own informative return on assets held abroad, with their own forms and their own rules. This page describes the common-territory regime. If your tax domicile is in foral territory, check with the tax authority that covers you.

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Author: Thorben Rasmus Idel · Reviewed by: Nahar Geva · Last reviewed: