We hereby remind you of the obligation to file the informative return on assets and rights located abroad (form 720) that must be filed, with respect to the 2025 financial year, before 31 March 2026.

Recall, however, that the Court of Justice of the European Union (CJEU) concluded, in its judgment of 27 January 2022 (case C-788-19), that the penalties provided for in the event of non-compliance or imperfect compliance with the obligation to declare assets and rights abroad (Form 720) are disproportionate and also contrary to EU law (specifically,  against the free movement of capital). However, the obligation to file the informative return persists, with a sanctioning regime comparable to the sanctioning regime provided for non-compliance with the rest of the informative obligations included in our internal regulation (arts. 198-199 LGT).

The main characteristics of this tax obligation:

Sample return: 720

 Submission period: From 1 January 2026 to 31 March 2026 (2025 financial year).

 Required to file the form:

• Natural and legal persons resident in Spanish territory who own assets and/or rights abroad.

 Groups of assets to be declared:

• Bank accounts: Accounts in financial institutions located abroad.
• Securities: Securities, rights, insurance and income deposited, managed or obtained abroad.
• Real estate: Real estate and rights over real estate located abroad.

By clicking HERE you will find the explanatory document of the information that must be declared in Form 720 regarding each of the previous assets of which you are the owner, this information is what you must request from the different entities and send us for the completion of the Form.

 Obliged to declare with respect to each group of assets:

• Bank accounts: The holders, representatives, authorised persons or beneficiaries, or those who have or have had powers of disposal over them, or have been the real owners of them.
• Securities: The real holders or holders.
• Real estate: The owners or real owners.

Quantitative limits with respect to each group of assets to be declared:

• Bank accounts: Balances as of 31 December or average balances in the last quarter of more than 50,000 euros.
• Securities: Value as of December 31 greater than 50,000 euros (value is understood as net asset value, redemption value, capitalization value, etc., depending on the type of financial product in question).
• Real estate: Value greater than 50,000 euros.

(*) The information to be submitted in subsequent years will only be mandatory when the combined value of all the securities has increased by more than 20,000 euros.

(**) There are several cases in which there is no obligation to file this informative return, such as, for example, that it is an entity totally exempt from Corporation Tax or that the asset to be declared is duly identified in the accounts of the entity obliged to declare. These cases must be examined one by one to determine whether or not they should be declared.

In the event of non-filing of the informative return or, even if it is filed, not doing so completely, incorrectly or including false data, the regulations provide for the imposition of very serious penalties that will consist of a fine of 5,000 euros for each piece of information omitted with a minimum of 10,000 euros for each block of information provided for (current accounts,  securities and real estate).

Taking into account the large volume of information that must be submitted by foreign financial institutions, and in the event of a possible collapse of the same, we recommend that, as soon as possible, they proceed to request the financial information of their bank accounts and securities from their financial institutions abroad, as well as inform us about the acquisition of new properties or rights over them during the 2025 financial year.

Our fees for the completion and filing of Form 720 will be calculated according to the special complexity that may be observed because of the volume of information that must be analysed.

If you need any clarification or additional information, please contact us.

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