Statements of foreign assets or transactions for residents in Spain
We have in Spain three different compulsory reports of foreign assets or transactions abroad: the Modelo 720 of the Spanish Tax Agency, the modelo ETE from the Bank of Spain, and the D-6 of the Ministerio de Economia which also requires to report financial transactions.
Modelo 720
Report of assets abroad when exceeding of value €50,000. Please refer to complete information in this website https://ustaxconsultants.es/services/modelo-720/
Modelo ETE
The economic transactions and the balances of financial assets and liabilities abroad of residents in Spain are subject to an obligation of reporting through the “modelo ETE” of the Bank of Spain, when the value exceeds of 1 million Euros.
The information must be sent to the Statistical Department of the Bank of Spain, by telematic means, through the virtual office Bank of Spain, where you can download the form and start the reporting process:
| Frequency | Time Frame | Value of transactions during the previous year, or the statement of assets and liabilities on December 31st of the previous year. |
| Monthly | Within 20 days following the end of each calendar month. | Equal to or greater than 300 million euros. |
| Quarterly | Within 20 days following the end of each quarter. | More than 100 million euros and less than 300 million euros. |
| Annual | January 20th of each following year. | Less than 100 million euros. |
D-6
Another bank of Spain form. Its purpose is to report marketable securities deposited abroad even if the issuers are Spanish, for both fixed income and variable income securities, provided that they are regarded as marketable securities, and holdings in collective investment undertakings (investment funds, SICAVs etc.). The deadline is January 31st for the positions of the preceding year. There is no minimum exempt threshold.
The D-6 must be filed when an operation (investment or settlement) takes place in which any of the following circumstances are applicable:
- a) The resident’s interest in share capital before or after the operation reaches 10%.
- b) The resident investor belongs to its governing body.
- c) The amount of the transaction exceeds €1,502,530.26.
Please, do not hesitate to contact us, if you have further doubts. We will make sure that you and your company comply with all the legally established requirements and obligations.
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