Probably at the beginning of the year, you are still quietly enjoying your vacation days. However, you should not neglect your duties as a resident in Spain, as you may be obliged to present certain obligations of financial information.

In this sense, during the present month of January 2021, depending on the case, the ETE Form must be submitted to the Bank of Spain and the D-6 Form to the General Directorate of International Trade and Investment, which depends on the Ministry of Industry, Trade and Tourism.

Therefore, we will briefly comment on what these obligations are, in which cases, when and how they must be presented.

 

1. ETE form Bank of Spain

a. What is the ETE form?

The Form ETE is a declaration that must be submitted by those individuals or legal entities resident in Spain on economic transactions and balances of financial assets and liabilities abroad in accordance with Circular No. 4/2012 of 25 April.

b. When should the form be submitted?

This form must be submitted on a monthly, quarterly, or annually basis when the amounts of the transactions carried out during the immediately preceding year, or the balances of assets and liabilities on December 31 of the previous year, are equal to or greater than 300 million Euros (monthly), equal to or greater than 100 million Euros and less than 300 million Euros (quarterly) and finally when they are less than 100 million Euros and greater than 1 million Euros (annually).

c. Special Case: Summary Annual Statement

The referred Circular nº4/2012, foresees a special case as for the possibility of presenting a summarized annual declaration, within the 20 days of the month of January of 2021, as long as the amount of the transactions or the balances previously referred to are higher than 1 million Euros and do not exceed 50 million Euros.

d. How is this statement made?

Only in a telematic way. In the case of individuals, by using an electronic ID card or certificate issued by the Spanish “Fábrica Nacional de Moneda y Timbre” (hereinafter FNMT). Legal entities must have an electronic certificate issued by one of the Certification Authorities accepted by the Bank of Spain (detailed on its official website) or by means of the component certificate issued by this body for legal entities (PKIBDE).

 

2. Model D-6

a. What is the Model D-6?

Form D-6 is a declaration that individuals or legal entities resident in Spain must make before the Registry of Spanish Investments Abroad. In other words, this declaration must be completed for investments in companies listed on a stock exchange or organized market and when the securities are deposited with an entity domiciled abroad or remain in the custody of the holder of the investment.

b. When should it be submitted?

This form may be used both for the declaration of operations for each investment or liquidation made in non-resident companies, and for the declaration of securities deposited abroad (i.e. stocks, bonds, investment fund shares, etc.) as of December 31, 2020.

As we can see, there are two types of Model D-6, but as far as this article is concerned, we will only focus on the declaration of securities deposited abroad.

As for the amounts to be declared, the regulations make no provision for this, so the mere fact of having, even if it is, a share in a listed company deposited abroad, you are obliged to declare it.

c. How and when to file a Model D-6 deposit declaration?

Form D-6 for deposit declarations must be filled out and may be filed electronically, using the AFORIX program together with the electronic ID card or certificate issued by the FNMT.

The filing deadline is January 2021.

 

Conclusion

Perhaps at this point, your peace of mind has begun to wane because, as you can see, the deadlines for submission of the ETE Form and Model D-6 are imminent. The penalties for late filing of these returns are considerable.

Finally, these statements are independent of each other since they are addressed to different agencies.  Likewise, these declarations are independent from the fateful Model 720 for information declarations on goods and rights located abroad, which is presented to the Tax Authorities and whose presentation period has also begun.

At Ventura Garcés we can help you to carry out a study of your investments and deposits abroad, check if you meet the requirements for presenting the declarations and finally, if you wish, proceed with the preparation and presentation of the same.