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V1051-26 13 May 2026 · SG de Tributos Criterion in force
IRPF · modelo 720

Requirement to report foreign property and accounts in Model 720 under specific conditions

A Spanish resident asks how to declare in Model 720 a property still held, one sold in 2025 with proceeds deposited in a foreign account. The DGT explains the conditions for reporting foreign property and accounts.

The question raised

Question raised

The DGT's ruling

The obligation to report real estate exists if one is a resident in Spain and the owner as of December 31, unless the values do not exceed 50,000 euros. In the event of loss of ownership during the year, the value and date of transfer must be reported. For bank accounts, the obligation arises if one is a resident and the owner or beneficiary, provided that the quantitative limits are not exceeded. The sale of real estate generates a capital gain or loss in the Personal Income Tax (IRPF), and leases are considered income from real estate capital if they do not constitute an economic activity.

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