Modelo 720 threshold: from what amount must you file?

The ideas in this guide are there to explain when you must file Modelo 720 and how the threshold is measured. 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.

You must file Modelo 720 if you are a Spanish tax resident and your assets and rights abroad go over the legal thresholds per block (the figure most often cited is €50,000 at 31 December in accounts, securities, insurance or property, depending on the block). You do not “pay” the 720: it is an informative return. Crypto custodied abroad goes on Modelo 721, not here.

Modelo 720 is a snapshot for Hacienda of what you hold outside Spain at 31 December. Because it is informative it has no tax due: filing it does not mean paying a tax.

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

The rule in one sentence

If at 31 December you hold, for example, more than €50,000 in securities at foreign brokers (or the equivalent threshold in another block), you have a duty to report it on Modelo 720. If you already filed and the increase in that block does not breach the repeat-filing rules (usually +€20,000 versus the last return), you may not have to file again that year — check the AEAT rule for the year in question.

What counts (and what does not)

Thresholds are per block, not one bucket of “everything I hold abroad”. You can be required to report securities and not accounts, or the other way around.

A worked example

• €55,000 at IBKR (shares) on 31 December → look at the securities block.
• €10,000 at Wise → accounts block; that block alone does not create a duty if it stays under the threshold (though when a duty exists you file the 720 as a whole).
• €60,000 in Bitcoin at a foreign exchange → 721, not 720.

Filing window

The usual Modelo 720 campaign runs from 1 January to 31 March of the year after the information year (e.g. balances at 31 December 2025 → file in 2026). Filing late is a different problem (regularisation / penalties, depending on the case).

How not to mix up the threshold and the statements

Working out the threshold by hand from five PDFs is where people go wrong (currencies, average Q4 cash balance, valuation of securities). 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 thresholds and blocks with the official law as it stands, without hours on forums.

Check whether you must file and prepare the 720 →

FAQ

From what amount must I file Modelo 720?
The figure most often cited is €50,000 per block at 31 December (accounts, securities, insurance or property). Crypto custodied abroad is Modelo 721.

Is it one total for everything I hold abroad?
No. Each block is measured on its own. You can be over on securities and under on accounts.

Does crypto go on Modelo 720?
No. Crypto at a foreign custodian goes on Modelo 721.

What is the deadline?
In practice 1 January to 31 March of the following year.

I already filed. Do I file every year?
Not always. The usual repeat rule is an increase of more than €20,000 in that block versus the last return. Check the AEAT criterion for the year.