16/06/2026
ROYAL DECREE 253/2025 WHAT EVERY RESIDENT IN SPAIN NEEDS TO KNOW ABOUT THE NEW BANK REPORTING LAW
Since January 2026 something significant has changed in Spain that every resident and property owner needs to be aware of. A new law is now in force that fundamentally changes how much information your Spanish bank is required to share with the Spanish tax authorities — the Agencia Tributaria or AEAT.
The law is Real Decreto 253/2025 of 1 April 2025, published in the Boletín Oficial del Estado on 2 April 2025. Its financial reporting provisions came into force on 1 January 2026.
Here is what it means in plain English.
WHAT HAS CHANGED
Previously your Spanish bank was required to report information about your accounts to the AEAT once a year. From January 2026 that reporting is now monthly. Every single month your bank sends the AEAT a complete report on your accounts and financial activity.
This is not a minor administrative change. It is a fundamental shift in how closely the AEAT can monitor the financial activity of everyone with a Spanish bank account.
WHAT YOUR BANK NOW REPORTS EVERY MONTH
Under Article 37 of the amended General Tax Management Regulation every Spanish bank and financial institution must now submit a monthly declaration to the AEAT covering:
The complete identification of every account held at that institution. The full details of every account holder including their name, tax identification number, country of residence and date of birth. The details of all authorised persons, representatives and anyone else with powers over the account. The account balances at 31 December and the average balance for the last quarter of the year. The total amounts of all debits and credits on the account during the year.
This applies to all types of accounts without exception, current accounts, savings accounts, fixed term deposits, credit accounts, payment accounts and any other type regardless of what it is called or whether it pays interest.
This obligation extends beyond traditional Spanish banks. It also applies to payment institutions such as Wise, Revolut and N26, electronic money institutions, and foreign banks and financial institutions operating in Spain whether through branches or providing services remotely.
WHAT IS ALSO REPORTED
Under Article 38 banks must also report annually:
All loan and credit balances over €6,000 at 31 December. All cash deposits, withdrawals and collections over €3,000 regardless of whether made in euros or any other currency.
Under Article 38 bis banks must report monthly:
All card payments and mobile phone associated payments made by businesses and professionals in Spain.
Under Article 38 ter banks must report annually:
All card operations where the total debits or credits on a card exceed €25,000 in the year. This covers all types of cards, debit, credit, prepaid and electronic money cards in any currency.
WHO IS AFFECTED
This law affects everyone who holds a bank account in Spain, residents, non residents, individuals and businesses alike. If you have a Spanish bank account, a Spanish credit or debit card, or use a payment platform operating in Spain your financial activity is now being reported to the AEAT every month.
WHY THIS MATTERS
The Spanish tax authorities are not a passive organisation. They cross reference information from multiple sources — bank reports, airline data, card transactions, social media and padrón records, to build a picture of each taxpayer’s situation. With monthly bank reporting now in place any mismatch between your declared fiscal position and your actual financial activity in Spain will be visible to the AEAT within weeks of it occurring.
If your tax affairs are completely in order this new law changes nothing for you. Your position is clean and consistent and the monthly reports will simply confirm that.
If however there is any discrepancy between your fiscal status and your financial activity in Spain, for any reason, this new monthly reporting dramatically increases the likelihood of that discrepancy being identified and investigated.
The AEAT has up to four years to investigate and reassess tax positions and penalties for unpaid tax range from 50% to 150% of the amount owed plus interest.
WHAT YOU SHOULD DO
If you are confident that your fiscal position in Spain is completely correct and up to date, you are filing the correct declarations, paying the correct taxes and your status with the AEAT accurately reflects your situation, then this law simply confirms that the system is working as it should.
If you have any doubt about your fiscal position in Spain, for any reason, now is the time to address it. Not next year. Now.
Jo Lamb
