Trading 212: which report for Modelo 720 and Spanish income tax
Trading 212 is a foreign broker: securities and cash held outside Spain. Modelo 720 applies if a group goes over €50,000. Which report for the 720 and for Renta.
The ideas in this guide are there to explain why Trading 212 belongs on Modelo 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.
Trading 212 is a foreign broker, and its securities and cash are held outside Spain. You will have to file Modelo 720 if, at 31 December, the group of foreign accounts or the group of foreign securities goes over €50,000. You add up all brokers, not Trading 212 alone, and the total is done by group. The detail, with examples, is in the threshold guide.
Spanish income tax (Renta / Modelo 100) is a different tax return. On that one you declare the gains and losses on investments you made during the year: sales, dividends, interest and withholding for the year.
Sources: Royal Decree 1065/2007, the Spanish Personal Income Tax Act (LIRPF), the AEAT Modelo 720 FAQ (Agencia Estatal de Administración Tributaria, Spain’s tax agency) and Trading 212’s pages on countries, custody and funds.
Which report to use for Modelo 720 and for Renta
Do not use the same document for both. Modelo 720 needs the portfolio as it stood at 31 December. Renta needs the history of trades since you opened the account.
| What for | Report |
|---|---|
| 720: securities | Annual statement (PDF, open positions on the Invest account) |
| 720: cash | Movement history (no last-quarter average; it is rebuilt) |
| Renta (Modelo 100) | The same movement history, year by year |
What Modelo 720 asks for: where the securities and cash sit
At Trading 212 the usual picture is that money and shares sit outside Spain (Germany, Cyprus or the United Kingdom, depending on the account), but that can change, so you should check it yourself or pass your reports to a tool like Aitax. The country that counts is where the securities and the cash are held, not the broker’s country and not the share’s.
Cash and shares go in separate groups. Each group has its own €50,000 limit. For cash, Modelo 720 asks for the 31 December balance and the average of the last quarter.
What Renta asks for: gains, dividends and withholding
A sale this year may rest on a purchase from three years ago. So Renta needs the history: buys, sells, dividends, interest and withholding, since you opened the account. Trading 212’s annual summary is useful to check figures; it does not replace that history.
Spanish law requires FIFO — first in, first out — to calculate capital gains and losses: the first share you bought is the first one treated as sold. If you use more than one broker, you have to line up in time every buy and sell of the same instrument — shares or ETFs — to get the real gain or loss. Aitax rebuilds that history and applies the other rules Hacienda requires, such as the two-month rule and European Central Bank currency conversions. How it orders the purchases · Why the draft leaves out Trading 212.
What Aitax does with those reports
Aitax reads your reports and rebuilds the full history: buys, sells, dividends, interest and withholding. It infers custodians, brokers, securities and so on, and calculates everything Hacienda requires on each return. You simply upload the documents to Aitax, review, and file your return with Hacienda — all in minutes.
Frequently asked questions
Does uninvested cash at Trading 212 have to be reported?
Yes, if your foreign accounts go over €50,000. It is money at an entity outside Spain. It is not reported with the shares.
Can I use the same report for Modelo 720 and for Renta?
No. The 720 uses the annual statement for securities and the history for cash. Renta needs that history since you opened the account so FIFO across brokers can be calculated and rules such as the two-month rule can be applied.
Are Trading 212 cash and shares held in Spain?
No. In principle the custodian is usually outside Spain (Germany, Cyprus or the United Kingdom), but that can change case by case — best to use software like Aitax for your specific situation.
Do my Trading 212 dividends appear on the Spanish tax draft?
No. Trading 212 is not a Spanish broker, and Hacienda’s draft does not include those accounts.
How to prepare Modelo 720 and Renta with Aitax
With Aitax you upload your Trading 212 statements. You get the document ready for Hacienda, with gains, dividends and withholding already calculated at the European Central Bank rate. You review the result, then file it on the AEAT site.
Ready for Modelo 720?
Upload your statements and generate the file for Hacienda.
Related guides
Back to guides- How to declare foreign brokers in Form 720Specific guide for investors using foreign brokers.
- XTB: which report for Modelo 720 and Spanish income taxDoes using XTB mean you must file Modelo 720? Where it holds securities and cash, which keys to use, and which report is for the 720 and which for Renta.
- Modelo 720 threshold: from what amount must you file?When Modelo 720 applies (~€50,000 per block), what counts as foreign assets, and what goes on Modelo 721.