Form 720 remains mandatory for anyone who is a tax resident of Spain and has accounts, securities, or real estate abroad worth more than €50,000. The CJEU ruling of January 27, 2022, overturned the disproportionate penalty regime: the obligation remains, but there are no longer confiscatory fines. We’ll help you comply thoroughly and smoothly.
Form 720 requires the reporting of accounts, securities, insurance policies, and real estate located abroad when the value of each category exceeds €50,000. The return must be filed between January 1 and March 31 of the following year, and it need only be refiled if there are significant changes from what was previously reported.
Following the CJEU ruling in January 2022, disproportionate penalties were eliminated, but the obligation to file a tax return remains fully in effect. The problem today is not the penalty: it is overreporting, miscalculating, or failing to update one’s tax return following a sale or an inheritance.
We review your accounts, securities, and real estate holdings outside of Spain and determine which categories exceed the threshold and must be reported.
We determine balances as of December 31, average balances, and acquisition costs in accordance with regulations to avoid errors and overreporting.
We prepare and file Form 720 between January and March, and Form 721 if you hold cryptocurrency abroad.
If you did not file a return at the time, we will regularize your status in an orderly manner following the reform of the penalty system.
We're updating Form 720 in light of the 2022 CJEU ruling: we know what remains mandatory and which penalties no longer apply.
We coordinate Form 720 with Form 721 for cryptocurrencies and your income tax return so that everything lines up and nothing is left undeclared or duplicated.
You speak directly with the tax attorney handling your case, not with an intermediary. Remote service in four languages.
A tax attorney reviews what you need to report on Form 720, carefully evaluates it, and files it on time. No surprises.
