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#MODELIO EXAMPLE HOW TO#

This form can be tricky to fill in, especially if Spanish isn’t your native language so make sure you give yourself lots of time to meet the deadline. What happens if I don’t file the Modelo 720 form? This means that your declaration of assets held outside of Spain in the year 2020 must be filed before the Modelo 720 deadline of 31st March 2021. It must be submitted between 1st January and 31st March of the year following that for which the information must be reported. This form is only available online, so you can only file the Form 720 electronically and not in person. This declaration of your overseas assets must be submitted via the Modelo 720 form.

#MODELIO EXAMPLE HOW TO#

When and how to submit the Modelo 720 in 2021 If the sum total of any of the three groups mentioned before does not exceed 50,000 euros, you don’t have to declare these overseas assets.

real estate and any profits coming from real estate outside of Spain.įiscal residents in Spain are also obliged to declare any representatives, beneficiaries or people who have power of attorney over those assets.

balances, incomes, insurance and taxes deposited, managed or obtained abroad.

bank accounts in financial entities abroad.

What happens if I don’t file the Modelo 720 form?Īll physical or legal persons resident in Spain who own assets outside of the country with a total value of more than 50,000 euros on 31st December of the previous year must submit Form 720.

When and how to submit the Modelo 720 in 2021.