Differences between Form 720 and Modelo D-6

The ideas in this guide are there to explain how Modelo 720 differs from Modelo D-6. With Aitax you upload the documents: the AI takes care of the heavy lifting. You check that the figures are right. If a question comes up, you ask the specialised AI, trained on the law as it stands.

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If you hold assets or investments abroad, it is essential to distinguish between Model 720 and Model D-6. Although both involve declaring offshore assets, their purpose and, most importantly, their mandatory thresholds are completely different.

What is Model 720? (Tax Obligation)

Model 720 is an informative declaration for the Spanish Tax Agency (AEAT). Its objective is the tax control of assets held abroad.

• Who must file: Tax residents in Spain with assets exceeding €50,000 in any of the three categories (bank accounts, securities/insurance, or real estate).
• Deadline: From January 1st to March 31st.
• Penalties: Following the CJEU ruling, fines have been moderated (€20 per data point), but failure to file can lead to deep tax audits and "unjustified capital gain" assessments.

What is Model D-6? (Statistical Obligation)

Model D-6 is a declaration for the Registry of Foreign Investments of the Ministry of Economy. It no longer affects the majority of retail investors.

• Who must file: Only residents holding a stake of at least 10% of the share capital of a foreign company (or those who are part of its board of directors).
• Retail Investors: If you own shares or funds abroad (e.g., via DEGIRO or Interactive Brokers) but do not reach 10% of the company's capital, you NO LONGER need to file Model D-6.
• Deadline: During the month of January.

Key Differences: Model 720 vs. Model D-6

Practical Example in 2026

1. Investor with €60,000 in Amazon shares: Must file Model 720 (exceeds €50,000), but NOT Model D-6 (as they do not own 10% of Amazon).
2. Entrepreneur with 15% of a startup in France: Must file BOTH (Model 720 for the value and Model D-6 for the percentage of participation).

How Aitax Helps You with Model 720

Model 720 remains the most complex and risky declaration for taxpayers. Aitax simplifies this process:

• Direct document extraction: Upload your bank or broker statements; our AI extracts all relevant data and organizes it according to AEAT requirements.
• Error Validation: Automatically detects incomplete fields or inconsistent data before you submit.
• Ready-to-file format: Generates the official file for direct upload to the Tax Agency website in seconds, ensuring compliance and peace of mind.

With Aitax, you ensure compliance with the Tax Agency without technical errors, minimizing any risk of penalty.

Frequently Asked Questions

Do I need to file anything if I have less than €50,000? No. For Model 720, the limit is €50,000. For Model D-6, unless you are a major shareholder (10%), you are also exempt.

What happens if I miss the deadlines? Model 720 is more critical. Filing late voluntarily carries a minimum fine of €150, while a missed filing discovered by the Tax Agency starts at €300 plus potential audits.

Are cryptocurrencies included in Model D-6? No. Cryptocurrencies held abroad have their own specific form: Model 721.

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