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V1291-22 ·7 June 2022 ·consulta-vinculante Medium impact
Tax

Fiscal treatment of IRA and ROTH IRA: taxation, Wealth Tax and Model 720

A Spanish tax resident with US nationality enquires about the fiscal treatment of their IRA and ROTH IRA. The DGT states that IRA is taxed exclusively in the US as a public pension, while ROTH IRA is taxed in Spain as capital gains.

In 6 key points

How it affects those involved

The tax treatment of IRA and ROTH IRA accounts differs between the US and Spain, with implications for tax reporting and compliance in Spain.

Lifecycle

2022-06-07PublishedPublished in the BOE
Official text Based on BOE data (boe.es). Information, not advice.

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This analysis is informational only and does not constitute legal advice or create a client-adviser relationship. BM Consulting.
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