Doctrine by topic · DGT Observatory

Reporting Obligation: DGT doctrinal evolution

How the DGT's position on this topic has evolved, and the rulings it rests on.

← DGT Observatory

How the DGT's position has evolved

Settled doctrine High confidence 14 rulings · 2017–2024

Current position

Accounts in investment platforms and electronic money accounts with current account functionality must be declared in Form 720 under the category of accounts in banking or credit institutions. In the case of investment platforms, key 'C' and subkey '5' must be used to identify the entity. Under community property regimes, both spouses must file the declaration if there is both formal and beneficial ownership.

The DGT has maintained a consistent line regarding the requirement to declare instrumental cash accounts abroad, applicable to both electronic money and investment platforms. The doctrine has specified the nature of these assets, clarifying that, although certain goods such as physical gold are not subject to reporting, the accounts managing them are. No change in criterion is observed, but rather a technical application of the rule to new financial instruments.

Turning points

  1. V2911-20

    Clarifies that CFDs and FOREX are not securities subject to reporting, but the instrumental cash account in the foreign broker is subject to Form 720.

  2. V1088-21

    Establishes that physical gold in foreign vaults is not subject to reporting, but the instrumental deposit account for its management is.

Analysis based on 13 of 14 rulings with a stated position. Updated 26 September 2026.

Rulings on this topic

14
V2616-22 23 Dec 2022

Regulatory framework for reporting foreign cryptocurrencies still pending

SG de Tributación de las Operaciones Financieras
criptomonedasmonedas virtualesbienes inmaterialesganancias patrimonialesobligación informativa LIRPF — Ley 35/2006 del IRPF art. 33.1LGT — Ley 58/2003 General Tributaria art. disposición adicional decimoctava
Affects CompanyExpat · Non-residentIndividual
V1133-22 20 May 2022

Foreign e-money accounts must be declared in Form 720

SG de Tributos
modelo 720dinero electrónicoobligación informativasaldo mediotipo de cambio LGT — Ley 58/2003 General Tributaria art. 29LGT — Ley 58/2003 General Tributaria art. 89.1
Affects CompanyExpat · Non-residentIndividual
V1088-21 26 Apr 2021

Physical gold abroad not to be declared in Form 720, even with bank account used

SG de Tributos
modelo 720oro físicocuenta instrumentalobligación informativabienes en el extranjero LGT — Ley 58/2003 General Tributaria art. disposición adicional decimoctavaRGAT — RD 1065/2007, Reglamento General de Actuaciones Tributarias art. 42 bis.1
Affects CompanyExpat · Non-residentIndividual
V0939-21 15 Apr 2021

Foreign crowdlending investments must be declared in Form 720 based on legal structure

SG de Tributos
crowdlendingfinanciación participativamodelo 720valores representativospréstamos participativos RGAT — RD 1065/2007, Reglamento General de Actuaciones Tributarias art. 42 bisRGAT — RD 1065/2007, Reglamento General de Actuaciones Tributarias art. 42 ter
Affects CompanyExpat · Non-residentIndividual
V2911-20 25 Sept 2020

Cash accounts with foreign brokers must be declared in Form 720

SG de Tributos
modelo 720contratos por diferenciasinstrumentos financieros derivadoscuenta instrumentalobligación informativa LGT — Ley 58/2003 General Tributaria art. 29LGT — Ley 58/2003 General Tributaria art. 93
Affects CompanyExpat · Non-residentIndividual
V0553-18 27 Feb 2018

Futures contracts not declared in Form 720, but brokerage cash account is

SG de Tributos
modelo 720instrumentos financieros derivadoscontratos de futuroscuenta instrumentalobligación informativa RGAT — RD 1065/2007, Reglamento General de Actuaciones Tributarias art. 42 bisRGAT — RD 1065/2007, Reglamento General de Actuaciones Tributarias art. 42 ter
Affects CompanyExpat · Non-residentIndividual
V1239-17 18 May 2017

Balance of a foreign prepaid card must be declared in Form 720

SG de Impuestos Patrimoniales, Tasas y Precios Públicos
modelo 720dinero electrónicotarjeta prepagocuenta corrienteimpuesto sobre el patrimonio RGAT — RD 1065/2007, Reglamento General de Actuaciones Tributarias art. 42.bisRGAT — RD 1065/2007, Reglamento General de Actuaciones Tributarias art. 42.ter
Affects CompanyExpat · Non-residentIndividual
Email
Contact