Once a taxpayer has submitted Modelo 720 about one or many obligations, they must only submit it again when one of these obligations increases its value by more than 20.000 euros with respect to the Modelo submitted for the last time.

The increment that must be taken into account is the increment experimented by the joint balance that determined the Modelo had to be presented in the previous submission. Increments are compared between trimesters and every December 31st. Regulations about the frequency of Modelo’s 720 submission can be found at:

  • point 5 of the article 42 bis of Reglamento General approved by RD 1065/2007, July 27th, about accounts in financial institutions located abroad;
  • point 5 of the article 42 bis of Reglamento General approved by RD 1065/2007, July 27th, for securities, rights, insurance and income deposited, managed or obtained abroad;
  • point 5 of the article 42 bis of Reglamento General approved by RD 1065/2007, July 27th, for real estate and rights to real estate located abroad.