The Ultimate Guide to Form 720 in 2026: Step-by-Step Filing

Form 720 continues to generate questions for those with assets abroad. This guide explains what it is, who must file it, which assets to declare, deadlines, and how to do it correctly in 2026, with clear examples and practical tips.

What is Form 720?

Form 720 is a mandatory informational declaration for tax residents in Spain with assets or rights abroad exceeding certain thresholds.
Its purpose is to allow the Spanish Tax Agency (AEAT) to verify that these assets are correctly declared in the Income Tax (IRPF) or Wealth Tax.

It is not a tax and does not require payment, but it is mandatory if the thresholds are met.

Who must file Form 720 in 2026?

Individuals and legal entities resident in Spain who, as of December 31, have assets abroad exceeding €50,000 in any of these three categories:

• Bank accounts
• Securities, insurance, and income
• Real estate or property rights

The threshold applies per category, not cumulatively. You only need to declare the category that exceeds €50,000.

Which assets must be declared?

Here are the three asset categories with practical examples:

1. Bank accounts abroad

Includes all current accounts, savings accounts, and online accounts at foreign banks.

Example:
Bank account in Germany with €52,000 → Must be declared.

2. Securities, insurance, and income

Includes stocks, investment funds, ETFs, life insurance abroad, and temporary or lifetime income.

Example:
Life insurance in Luxembourg worth €65,000 → Must be declared.

3. Real estate abroad

Includes homes, land, and property rights such as usufructs or bare ownership.

Example:
Apartment in Portugal valued at €120,000 → Must file Form 720.

When to file Form 720

The filing period in 2026 is January 1 to March 31.
Submission is online only via the Spanish Tax Agency website.

Do you have to file Form 720 every year?

Only if:

• You acquire new assets abroad
• The value of a category increases by more than €20,000
• You sell or cancel previously declared assets

Otherwise, re-filing is not required.

What happens if Form 720 is not filed or is incorrect?

Although penalties have been softened, Form 720 remains sensitive. Common errors include:

• Declaring assets in the wrong category
• Incorrect valuation of accounts, insurance, or properties
• Omitting relevant information

These errors can trigger AEAT inquiries and unnecessary complications.

How to file Form 720 correctly: why use Aitax

Filing Form 720 can be confusing, but Aitax makes it simple.

You just upload your documents, and they are automatically organized in the style of Form 720. Each field includes clear instructions on what to enter, why a value is assigned, and whether adjustments are needed. Its AI, trained on Form 720 regulations and AEAT FAQs, guides you step by step.

With Aitax, you can:

• Know immediately if you must file
• Enter your data clearly and correctly
• Avoid common errors in valuations or categories
• Keep all information organized for future filings
• Save time and reduce risks

Finally, you get the file ready to submit directly in the official AEAT format, without hassle. With Aitax, Form 720 becomes a clear, safe, and fast process.

Frequently Asked Questions

Does Form 720 require paying taxes?
No. It is only an informational declaration.

Is it required even without Wealth Tax?
Yes, these are independent obligations.

What happens if I make a mistake?
AEAT may issue inquiries. Aitax helps minimize errors and guide you throughout the process.

Conclusion

Form 720 in 2026 does not have to be complicated. With clear information, practical examples, and a reliable tool like Aitax, you can comply with AEAT quickly, safely, and without mistakes.

For more details and guided filing, visit aitax.es.