Model 289 FAQ
Skip information indexGeneral information requirements
The gross income derived from the sale or amortisation of financial assets paid or entered in the account, i.e. for the value of the asset disposal or refund obtained, must be reported. The income produced from this transaction in terms of interest shall not be reported.
Funds cannot be aggregated by countries, as, in accordance with the CRS, it must be registered as declarer of the fund, not the managing company.
No. The standards for the aggregation of the account balance do not apply to those that are excluded from the concept of financial account.
Technically, the label may be optional (as it involves a choice between one type of information or another, from several possible options), but if it is legally required that said information be recorded in Form 289, the financial institution must complete the Model with the information you have about that information field, in any case. That is, if you have it, you cannot choose whether to declare it or not.
Article 5 of Royal Decree 1021/2015, of November 13, establishes the information to be provided for each of the accounts subject to communication of information, being Annex III of Order HAP/1695/2016, of October 25, by which model 289 is approved, for the annual informative declaration of financial accounts in the field of mutual assistance, and by which other tax regulations are established, which details the content of the information that Model 289 must contain. For example, the type of account number must be provided, even if it is information that in Form 289 corresponds to an optional label.
No. The tax identification number that must be obtained and included in Form 289 (within the TIN field) is the one issued by the jurisdiction of your residence and not the TIN assigned by the Spanish authorities (the NIF).
Therefore, the TINs that must be completed in form 289, being those issued by the country or jurisdiction of the person or entity not resident in Spain, must conform to the structure established in said country or jurisdiction .
For these purposes, you can access the information consultation portals of each country in relation to the issuance, obtaining and, where appropriate, structure and operation of the corresponding TIN, through the section “Web portals for TIN validations (NIF). )” of Form 289 found in the AEAT Electronic Headquarters, whose link is:
https://sede.agenciatributaria.gob.es/Sede/en_gb/procedimientoini/GI42.shtml
To complete the information related to the address of persons or entities not resident in Spain, the financial institution must proceed as follows, regardless of whether it is recorded in free or structured format:
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You must complete the correct address in the jurisdiction in which you are resident in application of due diligence rules.
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It will always be completed with correct data that corresponds to the complete address provided by whoever holds ownership or control of certain financial accounts.
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Therefore, should not include alphanumeric characters or words (***, 000, zzzz, nnn, among others) that do not constitute or form part of the real address of the owner or person that exercises control.
The obligation to provide information related to the address is established in article 5.1 a) of Royal Decree 1021/2015, of November 13, and the address associated with each of the accounts subject to communication of information must be provided. The specific detail of the information to be provided is found in number 18 of Annex III of Order HAP/1695/2016. As indicated in the Technical Manual for the presentation of Model 289, this information must be recorded:
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In structured format , through the fields established in this regard, or
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In free format , if the structured format is not possible or when the fields of the latter do not reflect all the casuistry of the address in the country of residence of the person or entity not resident in Spain that holds ownership or control
The Technical Manual for the presentation of Form 289, which is available at the AEAT Electronic Headquarters within the section "Information on the presentation through Web Service of Form 289", is accessible through the following link:
https://sede.agenciatributaria.gob.es/Sede/en_gb/procedimientoini/GI42.shtml
When entering or not recording said value in Form 289, it must be taken into account that:
- The account number is not limited to the IBAN or ISIN codes , but may be different depending on the category of financial account in question.
- Only in the event that the financial institution does not have any unique identifier, functional equivalent or numbering that allows it to identify the declared financial account, must it enter the characters "NANUM".
- If “NANUM” was recorded due to having the information aggregated by client in its databases, the financial institution must provide the identifying numbers of the accounts individually considered as this aggregation is not correct according to with the applicable regulations.
In short, the use of the value “NANUM”, must be considered exceptional, being recorded only in those cases in which the financial institution does not have the identification code of the financial account in question.
The regulatory basis for the above is found in the following sections:
Article 5.1.b) of Royal Decree 1021/2015 , of November 13, which establishes the obligation to identify the tax residence of the people who hold ownership or control of certain financial accounts and to report on them in the field of mutual assistance, when determining the information that must be provided with respect to each of the accounts that are declared, among others, includes the following: "b) The account number ."
Similarly, Order HAP/1695/2016 , of October 25, which approves model 289, annual informative declaration of financial accounts in the field of mutual assistance , and by which other tax regulations are modified, in Annex III, section 7, the content of the declaration includes:
"7. Account number , indicating whether it is an IBAN code or other bank account number, an ISIN code or other securities identification number, or whether it is another identifier, such as for example the reference number of an insurance contract. When the declared financial account has an IBAN or ISIN code, it must be entered in form 289."
Account number means, as stated in section E of Section VIII of the Annex to Royal Decree 1021/2015:
"6. "Account number" means the identification number assigned by the financial institution to distinguish it from other accounts opened in it, including an equivalent functional element.
Therefore, the account number is not limited to the IBAN or ISIN codes, but can be different depending on the category of financial account, and only in the event that no unique identifier of the declared financial account is available. , you must enter the characters "NANUM" ( no account number ).
According to the Second Additional Provision of Royal Decree 1021/2015, its standards must be interpreted in accordance with the OECD Comments on the Model Agreement for the Competent Authority and the Common Information Communication Standard, in whose Annex 3 "User Guide to the Standard Common Report", section IVd. Account Number is specified:
"The account number used by the Financial Institution to identify the account in question must be provided. If the Financial Institution does not have an account number, the functional equivalent used by the financial institution to identify the account will be provided. Required for financial institutions that have an account number (including alphanumeric identifiers).
For example: The account number may be that of a Custodial Account or a Deposit Account; ii) the code (ISIN or other) related to a Debt or Equity Participation (if not held in a Custody Account), or iii) the identification code of a Cash Value Insurance Contract or of an Annuity Contract.
In exceptional cases , when there is no account numbering system, "NANUM" will be used to indicate the absence of the account number, since this is a Validation element. This account number format is the same as that contemplated by FATCA and can be used in both structured and free format account numbers. Additionally, a non-standard account identifier or insurance contract number may be included in this field."
Finally, in the event that they have not provided an account number because they have submitted the information added by client , in accordance with the applicable regulations, they should provide the identification numbers of the accounts individually considered , the aggregation by clients not being correct.
Under no circumstances will model 289 accounts be included whose ownership or control is held by persons whose only jurisdiction of tax residence is Spain, even if they are undocumented accounts for which the financial institution must or may know that the ownership or The control of said accounts corresponds to a tax resident in Spain.
Yes, it is compulsory.
As a consequence of the modification of article 4 of RD 1021/2015, of November 13 (RD of CRS), Order HAP/1695/2016, of October 25, of model 289, is also modified to include the obligation to present of the informative declaration model 289 even in cases of non-existence of accounts to be reported by the financial institution obliged to declare after the application of the due diligence rules.
In these new cases of uncommunicated accounts declaration, the content of model 289 is limited to the concepts included in numbers 1 to 5 of Annex III of Order HAP/1695/2016, as well as the new concept introduced by this order. “6.2. Declaration without accounts to communicate” (*).
To facilitate the presentation of form 289 “without accounts to communicate”, a simple Form has been enabled that will be available in the Electronic Office.
However, this presentation can also be done through the already enabled Web Service. More information:
https://sede.agenciatributaria.gob.es/Sede/en_gb/procedimientoini/GI42.shtml
In accordance with the provisions of article 5.1 d) of Royal Decree 1021/2015, of November 13, which establishes the obligation to identify the tax residence of the people who hold ownership or control of certain financial accounts and to report on them in the field of mutual assistance, among the information to be provided corresponding to each of the accounts subject to communication of information must include the balance or value of the account at the end of the calendar year considered . In the case of a insurance contract with cash value or an annuity contract, the cash value or surrender value will be taken.
Without prejudice to how the cash value must be determined in accordance with the definition provided in Section VIII.C.8 of the Annex to Royal Decree 1021/2015, in accordance with Section VIII. C. 6 and 8 of the aforementioned royal decree, both in the annuity contract and in the insurance contract with cash value, for the purposes of calculating the balance or value of the financial account, the financial institution obliged to communicate information may use , where applicable, the capitalization value or the redemption value referred to in Order EHA/3481/2008, of December 1, approving model 189 of the annual informative declaration about securities, insurance and income.
For these purposes, Law 11/2021, of July 9, on measures to prevent and combat tax fraud, transposing Council Directive (EU) 2016/1164, of July 12 of 2016, which establishes rules against tax avoidance practices that directly affect the functioning of the internal market, modifying various tax rules and the regulation of gambling , has modified article 17 of Law 19/1991, of June 6, on the Wealth Tax , relating to life insurance and temporary or life annuities to which Order EHA/3481/2008, of in accordance with the following wording that must be taken into consideration, if applicable, for the purposes of determining the redemption or capitalization value:
One. Life insurance will be computed at its surrender value at the time of accrual of the Tax.
However, in cases in which the policyholder does not have the power to exercise the full right of redemption on the date of tax accrual, the insurance will be computed for the value of the mathematical provision on the aforementioned date in the tax base of the policyholder.
The provisions of the previous paragraph will not apply to temporary insurance contracts that only include benefits in the event of death or disability or other complementary risk guarantees.
Two. Temporary or life annuities, constituted as a consequence of the delivery of capital in money, movable or immovable property, must be computed by their capitalization value on the date of accrual of the Tax, applying the same rules that are established for the constitution of pensions. in the Tax on Property Transfers and Documented Legal Acts.
However, when income, temporary or life, is received from life insurance, these will be computed by the value established in section One of this article."
In the case of joint accounts, in order to declare the account balance in form 289, each owner will be attributed the balance or total value of the joint financial account at the end of the calendar year considered. It is also applicable for the purposes of aggregating balances, as stated in points 1 and 2 of section C of Section VII of Annex I of Royal Decree 1021/2015, of November 13, aggregation used to determine whether it is exceeded or not the thresholds established in said Annex.
Information regarding the other holders of the declared joint accounts for whom information should not be reported in application of the provisions of Royal Decree 1021/2015, of November 13, should not be included in form 289.
No. The amount of the “Inflow of funds” field of form 291 ( annual informative declaration of the Income Tax of non-residents. Accounts of non-residents without permanent establishment ) does not correspond to what must be declared in the "Interest" field of Form 289.
This is because the "Fund Inflows" field is defined in model 291 as the total annual amount for the sum of notes to the credit of the account or sum of credits, which does not strictly correspond to the concept of interest. , these being the total gross amount of interest paid or recorded in each case in the account (or in relation to the account) during the calendar year.
The account must not be declared in Form 289 if it is found that the requirements demanded by Royal Decree 1021/2015, of November 13, are met to consider it as one of the excluded accounts defined in section C.17 of Section VIII of the Annex I
Thus, in letter d) of section C.17 of Section VIII of Annex I, an excluded account is considered “an account maintained solely by the relic estate if the documentation for that account includes a copy of the decedent's will or death certificate . ”
Please also take into account what is indicated in number 92 of the Comments to Section VIII of the Common Information Communication Standard (CRS):
92 Pursuant to subsection C(17)(d), an account related solely to the estate of an individual may be an Excluded Account if the documentation for that account includes a copy of the will or death certificate of the deceased . To this end, the Reporting Financial Institution must consider that this account retains the status it enjoyed prior to the death of the Account Holder until the date on which a copy of the aforementioned documentation is obtained. To determine what is meant by “succession”, reference should be made to the specific legislation in this area in each jurisdiction that governs the transmission or inheritance of rights and obligations in the event of death (such as universal succession rules). .
You can access these Comments through the section “ Additional information on the CRS in the OECD ” which is available on the OECD Electronic Office.
In short, the financial accounts of deceased clients must be included in Form 289 if the requirements described above are not met.