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Tax forms & concepts

Modelo 720

Modelo 720 is an information return covering three separate categories of certain assets and rights abroad: financial accounts; specified securities, rights, insurance, and annuities; and foreign real estate or rights over it.

Plain English: foreign-asset informational return

Definition

Whether a category must be reported depends on the person or entity, ownership or control, exclusions, and that category's valuation rules. The initial €50,000 test is applied separately under those rules; it is not a test of whether one asset crossed €50,000 at any moment during the year. After a category has been reported, a later return is generally required when the relevant total increases by more than €20,000 compared with the last filed amount or when a specified event such as a cancellation or disposal must be reported. The ordinary filing period is 1 January to 31 March of the following year. Since 2022, failures fall under the revised general penalty framework, so use current AEAT FAQs.

  • Apply the official valuation and exclusion rules separately to each of the three categories.
  • A prior filing changes the later-return test; check both the increase rule and specified reportable events.
  • Foreign crypto uses the separate Modelo 721 regime, not the three Modelo 720 categories.

Example: closing a previously reported foreign account can matter even when the remaining category total did not simply cross €50,000 this year.

Where this appears

Modelo 720 can appear in Spanish forms, appointment screens, official letters, PDF instructions, receipts, or portal status messages. This term usually appears in tax returns, invoices, payroll, or AEAT correspondence. Use the definition to understand the public concept, then verify the exact treatment on the official tax source or your own notice.

Use the term as a clue, not the whole answer. A public definition can explain the usual meaning, but a personal document may change the deadline, office route, evidence required, or risk of ignoring the message.

What to check next

  • Match the office

    Check whether the term belongs to AEAT, Seguridad Social, Policía Nacional, Extranjería, city hall, DGT, health services, a bank, or another provider.

  • Find the source of truth

    Use the official source, related guide, or related glossary terms before paying a fee, booking a cita, submitting a form, or responding to a notice.

  • Keep personal decisions inside Ask Guiri

    If this term appears in your own PDF, screenshot, letter, rejection, fine, or deadline, the surrounding text matters. That case-specific reading should happen inside Ask Guiri.

Next action

Modelo (general)In Spanish administration, modelo usually means an officially approved form identified by a number or code for a particular declaration, payment, application, or information obligation.IRPFIRPF is Spain's personal income tax; it generally taxes the total income of people who are IRPF taxpayers, subject to exemptions, special regimes, and tax treaties.AEATAEAT (Agencia Estatal de Administración Tributaria) is the Spanish national tax agency, commonly known as Hacienda.