(Updated as of March 2022)
Frequently asked questions model 720 (March 2014)
No, there is no obligation to report them.
The same criterion applies to the goods and rights subject to the information obligations regulated in articles 42 ter and 54 bis of the General Regulation approved by RD 1065/2007, of July 27, so that, if they are acquired at throughout the financial year and your status as holder over them is extinguished in the same financial year, there is no obligation to report.
No, the date of extinction of the assets included in article 42 ter of the General Regulation approved by RD 1065/2007, of July 27, is not a mandatory field to report.
Therefore, information regarding transfers of homogeneous securities that must be reported may be grouped together.
No, there is no obligation to report in the case of transfer of securities, as long as this does not imply the cancellation of the status of owner or real owner of them.
The cancellation of securities must be reported, with respect to which it was already reported or had the obligation to report in the informative declaration on assets and rights located abroad. (Not from the sale of securities that are acquired and sold throughout the year and before December 31).
Only the set of securities, insurance and income must be reported again (obligation established in article 42 ter of the General Regulation approved by the RD 1065/2007), which are held on December 31, 2013, if the joint value of the same on this date experiences an increase of more than 20,000 euros with respect to the joint value that determined the obligation to present the last declaration of assets and rights located abroad (Article 42 ter.5 of the General Regulation approved by RD 1065/2007, of July 27).
Now, if said loss of ownership was a consequence of purchase-sale operations, and the amounts obtained were fully reinvested in the acquisition of other securities (article 42 ter of the General Regulations approved by RD 1065/2007), the obligation to report on each of the cancellations may be replaced by the obligation to declare the balances as of December 31, regardless of whether the joint value for all the goods and rights included in this article 42 ter of the aforementioned Regulation whether or not it experiences an increase of more than 20,000 euros.
The full amount will be considered to have been reinvested when the amount obtained is reinvested, reduced, where appropriate, by the expenses and commissions inherent or usual in this type of operations.
In accordance with articles 42 bis.5, 42 ter.5 and 54 bis.7 of the General Regulation approved by RD 1065/2007, the cancellation or extinction of the ownership of the shares in the instrumental company must be reported and, in turn, the extinction of the real ownership over the assets and rights located abroad, of which it was in turn the owner. the instrumental entity.
Similarly, and as a consequence of the change in legal form or condition in which the ownership is held on the goods and rights located abroad with respect to those that you are not longer the real owner of, in order to become the owner (legal/formal), you must declare the new ownership (legal/formal) of these goods and rights located abroad.
In this sense, it is necessary to remember the impact that the correct declaration of the form of ownership has for the purposes of direct taxation in accordance with the provisions of section 3 of the eighteenth Additional Provision of the LGT.
Yes, there is an obligation to declare.