Do ETFs and funds at foreign brokers go on Modelo 720?

The ideas in this guide are there to explain why foreign ETFs and funds belong on the 720 and what goes on Renta. 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.

ETFs and index funds at a foreign broker (DeGiro, Interactive Brokers, Trading 212 and the like) do go on Modelo 720 if you are a Spanish tax resident and you go over the thresholds of the securities block. They are not a “special product” outside the 720: for the informative return they are securities located abroad. At Interactive Brokers the positions report is a Flex Query different from the one for Renta: which report to download.

The gain when you sell them is a different filing: it goes on Spanish income tax (Renta / Modelo 100) with FIFO and ECB rates, not on the 720.

Modelo 720 is an informative return: a snapshot for Hacienda of what you hold abroad at 31 December. Because it is informative it has no tax due.

Updated 11 October 2026. Sources: Royal Decree 1065/2007, the Spanish Personal Income Tax Act (LIRPF) and the AEAT Modelo 720 FAQ (Agencia Estatal de Administración Tributaria, Spain’s tax agency).

Where each piece goes

• Custody at a non-resident broker or bank → securities block of Modelo 720 (if the threshold creates a duty).
• “Spanish” funds / ETFs at a resident entity → not the typical 720 case of something “abroad”; the 720 looks at where the asset or right sits.
• Crypto → not on the 720; custody at a foreign exchange → Modelo 721; a sale → Renta.

The securities threshold

The 720 duty for securities kicks in, for a typical investor, when that whole block goes over the legal thresholds (the usual reference is €50,000 at 31 December, with repeat-filing rules if the increase exceeds €20,000 versus the last return). Always check the AEAT rules and FAQs for the year: thresholds are per block, not “per ETF”.

Example: €40,000 in a global ETF at IBKR + €15,000 in shares at DeGiro → you look at the securities block as a whole, not each ISIN as if it were a separate return.

The detail of how the threshold is measured is in the threshold guide.

What data the 720 usually wants

For each relevant position: identification of the security, number of shares or units, valuation at 31 December (and the valuation rules the law sets), the depositary and the country. Broker statements usually already have this; the work is mapping it to the 720 format, not reinventing the ISIN.

Common mistakes

1. Thinking “it is an Irish UCITS ETF so it stays off” — custody at a foreign broker is what opens the informative 720.
2. Putting crypto on the 720.
3. Mixing the 720 (informative picture of wealth abroad) with Renta (capital gains).
4. Copying a 2019 forum thread on penalties or thresholds without checking it.

How to do it without an endless spreadsheet

Aitax is the specialised AI for Modelo 720, 100 and 721: you drag in your broker documents and it leaves the return ready for Hacienda; it also answers the harder questions on those same forms (for example whether a given ETF belongs on the 720) with the official law as it stands, without hours on forums.

Prepare Modelo 720 from your statements →

FAQ

Do ETFs at a foreign broker go on Modelo 720?
Yes, as securities, if you are a Spanish tax resident and the securities block goes over the threshold.

Does an Irish UCITS ETF stay off the 720?
No. What opens the 720 is custody at a foreign broker, not the fund’s domicile.

Do I measure the threshold per ETF?
No. You add the whole securities block. €40,000 in one ETF plus €15,000 in shares is one block.

Do gains on the sale go on the 720?
No. Sales go on Renta (Modelo 100), with FIFO and ECB rates.

Does crypto go here?
No. Crypto custodied abroad is Modelo 721; a sale is still Renta.