Modelo 720 in Spain and Foreign Asset Reporting

Modelo 720 is Spain’s foreign asset reporting form for Spanish tax residents who hold certain assets outside Spain. Americans in Spain may need to report U.S. bank accounts, brokerage accounts, real estate, insurance policies, or other foreign assets if the relevant reporting thresholds are met. Modelo 720 is an information return, not a tax payment form, but it is still an important compliance obligation.