Foreign-asset inventory
Your foreign accounts, securities and insurance, real estate, and crypto, organized into the reporting categories with year-end values.
Spain Modelo 720 & 721
Foreign-asset reporting, organized before 31 March.
Spanish residents with foreign accounts, investments, property, or crypto above EUR 50,000 generally must file the informational Modelo 720 or 721. We map the categories and thresholds, organize the inventory, and hand a clean file to a licensed Spanish tax adviser.
First call: leave knowing which categories you cross, whether you need to re-file, the deadline, and the adviser handoff.
Researching the route first? Spain Tax Guide
What you get
What we coordinate on foreign-asset reporting.
Reporting goes wrong when a category threshold or a re-filing trigger is missed. We inventory your foreign assets by category, check the thresholds, and hand a clean file to the adviser before the window closes.
Threshold and category check
Which of the EUR 50,000-per-category thresholds you cross for Modelo 720, and whether your foreign crypto crosses the Modelo 721 threshold.
Re-filing check
Whether a prior declaration means you only need to re-file because a category rose by more than EUR 20,000, or lost an asset.
Adviser handoff
A clean file for a licensed Spanish tax adviser who confirms the position and files Modelo 720 or 721 before 31 March.
It is reporting, not a tax
Modelo 720 and 721 are informational declarations. They raise no tax themselves; the point is disclosure of foreign assets held by Spanish residents.
Three categories, EUR 50,000 each
Modelo 720 has three categories, accounts, securities and insurance, and real estate, each with its own EUR 50,000 threshold assessed at year end. Foreign crypto over EUR 50,000 goes on Modelo 721.
The harsh penalties were struck down
In 2022 the Court of Justice of the EU ruled Spain's old Modelo 720 penalty regime disproportionate. Spain replaced it with the ordinary penalties of the General Tax Law, but the filing obligation itself remains.
The window is 1 January to 31 March
Both Modelo 720 and 721 are filed online for the prior year between 1 January and 31 March. After the first filing, you re-file only when a category rises by more than EUR 20,000.
Who this fits
Why use Movingto for a Modelo 720 case?
The valuable work is getting the inventory and the category thresholds right, checking whether you even have to file or re-file, and getting a clean file to the adviser before 31 March, so reporting is handled, not missed.
Good fit for
- New Spanish residents with foreign accounts, investments, or property
- People unsure whether they cross the EUR 50,000-per-category thresholds
- Residents with foreign crypto who may need Modelo 721
- Anyone who filed before and needs the re-filing trigger checked
Not the right fit for
- Non-residents, who do not file Modelo 720
- Anyone wanting Movingto to give tax advice or file as the adviser
- People under the Beckham regime, who are generally exempt from Modelo 720
- Anyone seeking a promise about penalties or Tax Agency outcomes
Service scope
What Movingto coordinates, and what the adviser confirms.
You get an organized foreign-asset inventory and a threshold check. The reporting position, any advice, and the filing stay with a licensed Spanish tax adviser.
- Included workstreams
- 4
- Scope boundary
- Clear
Delivery scopeIncluded vs. referred out
Coordinated by Movingto
Foreign-asset inventory by category
We organize your accounts, securities and insurance, real estate, and crypto into the reporting categories with year-end values.
Coordinated by Movingto
Threshold and re-filing check
We check which EUR 50,000 category thresholds you cross and whether a prior filing means you only re-file on a EUR 20,000 increase.
Coordinated by Movingto
Deadline management
We keep the 1 January to 31 March window on the calendar so the filing is not missed.
Coordinated by Movingto
Adviser handoff
We hand a clean file to a licensed Spanish tax adviser who confirms the position and files.
Handled separately
Tax advice or filing from Movingto
Movingto does not give tax advice or file the declaration as the adviser. That stays with the licensed Spanish tax adviser.
Handled separately
Penalty or outcome guarantee
No adviser can guarantee a penalty position or Tax Agency outcome. The facts and the rules in force control the result.
Reporting path
From foreign assets to a filed declaration.
Each stage turns scattered foreign assets into a governed filing: inventory, thresholds, re-filing check, deadline, then handoff to the adviser.
Case path05 managed stages
- Step 1 of 5
Confirm residency and gather assets
Confirm Spanish tax residency and gather the foreign accounts, investments, property, and crypto with year-end values.
- Step 2 of 5
Sort into categories
Place each asset into its Modelo 720 category, and crypto into the Modelo 721 basis.
- Step 3 of 5
Check thresholds and re-filing
Test the EUR 50,000 category thresholds and whether a prior declaration limits filing to a EUR 20,000 increase.
- Step 4 of 5
Map the deadline
Put the 1 January to 31 March window on the calendar with the adviser handoff.
- Step 5 of 5
Hand off to the adviser
Deliver the file to a licensed Spanish tax adviser who confirms and files Modelo 720 or 721.
Compare the declarations
Modelo 720 vs Modelo 721
| Aspect | Modelo 720 (foreign assets) | Modelo 721 (foreign crypto) |
|---|---|---|
| Covers | Accounts, securities and insurance, real estate abroad | Virtual currencies held abroad |
| Threshold | EUR 50,000 per category | EUR 50,000 in aggregate |
| Window | 1 January to 31 March | 1 January to 31 March |
| Re-filing | If a category rises by over EUR 20,000 | If the balance rises by over EUR 20,000 |
| Nature | Informational (no tax due) | Informational (no tax due) |
General guide only. Thresholds and obligations are confirmed by a licensed Spanish tax adviser. The penalty regime was aligned to the ordinary General Tax Law rules after CJEU Case C-788/19.
Evidence
Evidence you can check.
Scope, professional boundaries, and credential claims stay tied to source pages instead of sitting as unsupported marketing copy.
Source
Modelo 720 - declaration of assets and rights located abroad
View sourceAgencia Tributaria (AEAT)
Source
Modelo 721 - declaration of virtual currencies located abroad
View sourceAgencia Tributaria (AEAT)
Claim support
CJEU judgment of 27 January 2022, Case C-788/19 (Modelo 720 penalties)
View sourceCourt of Justice of the European Union (EUR-Lex)
Source
Ley 5/2022 (revised Modelo 720 penalty regime)
View sourceBoletin Oficial del Estado (BOE)
Common questions
Questions before you engage.
What is Modelo 720?
Modelo 720 is an informational declaration that Spanish tax residents file to report assets and rights held abroad. It covers three categories, bank accounts, securities and insurance, and real estate, each with a EUR 50,000 threshold assessed at year end. It raises no tax itself.
What about foreign crypto?
Foreign-held virtual currencies are reported on a separate declaration, Modelo 721, when they exceed EUR 50,000 in aggregate at year end. It uses the same 1 January to 31 March window and is informational.
When is Modelo 720 due?
Modelo 720 and Modelo 721 are filed online for the prior year between 1 January and 31 March. After your first filing, you only re-file a category if its value rose by more than EUR 20,000, or if you lost a previously reported asset.
Are the penalties still as harsh as people say?
No. In January 2022 the Court of Justice of the EU ruled Spain's old Modelo 720 penalty regime disproportionate and contrary to EU law. Spain then replaced those penalties with the ordinary regime of the General Tax Law. The filing obligation itself, however, remains fully in force.
Do Beckham-regime holders file Modelo 720?
Generally no. Individuals taxed under the Beckham (impatriate) regime are typically exempt from filing Modelo 720 while under the regime. The exemption is personal, so family members are not automatically covered. An adviser confirms your position.
Does Movingto file the declaration?
No. Movingto organizes the foreign-asset inventory and checks the thresholds. The reporting position, any advice, and the filing of Modelo 720 or 721 stay with a licensed Spanish tax adviser.
Private advisory call
Get your foreign-asset reporting organized.
Bring your foreign accounts, investments, property, and crypto with year-end values. We sort them into categories, check the thresholds and re-filing rules, and hand a clean file to a licensed adviser before 31 March.
First call covers
Leave knowing which categories you cross, whether you must file or re-file, and the adviser handoff.
- Route fit
- Country, visa category, family members, and timing.
- Scope
- Documents, legal work, tax points, and investment boundaries.
- Next steps
- What to prepare before engaging the right specialists.