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V3973-15 14 December 2015 · SG de Tributos Criterion in force
OTRO · modelo 720

Obligation to file Form 720 due to account cancellation or balance increase exceeding 20,000 euros

The inquirer asks about the obligation to report via Form 720 following the cancellation of accounts or changes in foreign investment products and insurance. The DGT clarifies when the obligation to file the annual informative return persists.

The question raised

Question posed

The DGT's ruling

The filing of Form 720 is mandatory if a previously declared savings or current account is cancelled. Likewise, the obligation to file returns in subsequent years is maintained if the combined balances have experienced an increase exceeding 20,000 euros compared to the last return. For investment products and insurance, the net asset value or surrender value as of December 31 must be considered, applying the prevailing exchange rate if the currency is different from the euro.

Apply this to a real case

What is published here, applied to a company or a specific case. The first meeting is free.

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