This form must be filled in by all Spanish Tax residents possessing assets abroad over 50.000 euros and must be submitted during the first quarter of each year.

In this tax form you should declare:

–            Accounts abroad in financial institutions,

–            Stocks, bonds, values, financial rights, and savings in insurance companies, deposited, managed or obtained abroad

–            All types of Real Estate and rights over Real Estate abroad.

You are obliged to submit the tax form if you are over 50.000 euros in each of these three asset categories.

If you already filled in this 720 form in any previous years, you should only submit a new one if you have increased any of the three categories in at least 20.000 euros, or you have sold, cancelled or closed any of the assets that you declared.