Doctrine by topic · DGT Observatory

Average Balance: DGT doctrinal evolution

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

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How the DGT's position has evolved

Settled doctrine High confidence 12 rulings · 2014–2024

Current position

The obligation to file the informative return on foreign accounts arises when the balances as of December 31 and the average balance of the last quarter jointly exceed 50,000 euros. If either of these two limits is exceeded, all accounts must be reported. There is no obligation if both balances are below said amount.

The DGT's position remains constant in the interpretation of the quantitative limits for the reporting obligation. Consultations repeatedly confirm that the calculation is based on the sum of the balance as of December 31 and the average balance of the last quarter to determine whether the 50,000 euro threshold is exceeded.

Analysis based on 12 of 12 rulings with a stated position. Updated 27 September 2026.

Rulings on this topic

12

V2062-24 25 Sept 2024

Requirement to file Model 720 if foreign account balances exceed 50,000 euros

SG de Tributos

modelo 720declaración informativacuentas en el extranjerosaldo mediotitularidad LGT — Ley 58/2003 General Tributaria art. 89.1LGT — 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

V0753-22 7 Apr 2022

Obligation to file foreign accounts declaration if balances exceed €50,000

SG de Tributos

declaración informativacuentas en el extranjerosaldo mediotitularidadmodelo 720 LGT — Ley 58/2003 General Tributaria art. 29LGT — Ley 58/2003 General Tributaria art. 89.1

Affects CompanyExpat · Non-residentIndividual

V2165-21 29 Jul 2021

No obligation to file foreign accounts declaration if funds transferred to a Spanish bank account

SG de Tributos

declaración informativacuentas en el extranjerotitularidadobligación de informarsaldo medio LGT — Ley 58/2003 General Tributaria art. 29LGT — Ley 58/2003 General Tributaria art. 89.1

Affects CompanyExpat · Non-residentIndividual

V0861-18 27 Mar 2018

Duty to file Form 720 if foreign account balances exceed €50,000

SG de Tributos

declaración informativacuentas en el extranjerosaldo mediomodelo 720obligación de informar LGT — Ley 58/2003 General Tributaria art. 29LGT — Ley 58/2003 General Tributaria art. 89.1

Affects CompanyExpat · Non-residentIndividual

V1768-17 7 Jul 2017

Wealth Tax accrues based on ownership of assets as of 31 December

SG de Impuestos Patrimoniales, Tasas y Precios Públicos

devengosujeto pasivocapacidad económicasaldo mediotitularidad LIP — Ley 19/1991 del Impuesto sobre el Patrimonio art. 12LIP — Ley 19/1991 del Impuesto sobre el Patrimonio art. 29

Affects CompanyExpat · Non-residentIndividual

V0813-17 30 Mar 2017

Obligation to declare foreign bank accounts and derivatives: distinction between bank accounts and derivative instruments

SG de Tributos

modelo 720instrumentos financieros derivadoscuenta instrumentalvalores representativosobligación informativa LGT — Ley 58/2003 General Tributaria art. 89.1LGT — Ley 58/2003 General Tributaria art. Disposición Adicional decimoctava.1.a

Affects CompanyExpat · Non-residentIndividual

V3167-16 6 Jul 2016

Must file Model 710 if foreign account balances exceed €50,000

SG de Tributos

declaración informativacuentas en el extranjerotitularidad conjuntasaldo mediomodelo 710 LGT — Ley 58/2003 General Tributaria art. 29LGT — Ley 58/2003 General Tributaria art. 93

Affects CompanyExpat · Non-residentIndividual

V1225-15 20 Apr 2015

Obligation to file Model 720 if you have disposal power over foreign accounts

SG de Tributos

declaración informativacuentas en el extranjeroautorizadopoder de disposiciónmodelo 720 LGT — Ley 58/2003 General Tributaria art. 29LGT — Ley 58/2003 General Tributaria art. 89.1

Affects CompanyExpat · Non-residentIndividual

V0861-15 23 Mar 2015

Valuables and cash to be calculated separately for Model 720 obligation

SG de Tributos

declaración informativacuenta de valoresvalores mobiliariosefectivotitularidad LGT — Ley 58/2003 General Tributaria art. 17LGT — Ley 58/2003 General Tributaria art. 29

Affects CompanyExpat · Non-residentIndividual

V0965-14 4 Apr 2014

Obligation to file Model 720 upon account cancellation or balance increase above 20,000 euros

SG de Tributos

declaración informativacuentas en el extranjeromodelo 720saldo mediotitularidad LGT — Ley 58/2003 General Tributaria art. 29LGT — Ley 58/2003 General Tributaria art. 89.1

Affects CompanyExpat · Non-residentIndividual

V0460-14 20 Feb 2014

Obligation to file Model 720 upon cancellation and opening of foreign accounts

SG de Tributos

declaración informativacuentas en el extranjeromodelo 720titularidadcancelación de cuenta RGAT — RD 1065/2007, Reglamento General de Actuaciones Tributarias art. 42 bisLGT — Ley 58/2003 General Tributaria art. 29

Affects CompanyExpat · Non-residentIndividual

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