What information does the Treasury have about my bank accounts?

There are many citizens who wonder about the information that the Treasury has on your bank accountssince it is known that the Tax Agency monitor cash movements or by transfer. However, since there are limits, it is important to know what information is available.

In this regard, it is worth knowing that The Treasury requests annual reports on bank accounts from bankswith information about the balance and the inflow and outflow of money. In addition, for certain operations, the person or the bank must send specific declarations to the Tax Agency, as happens when a certain amount of money is exceeded. This information is requested for better financial fraud control and for the adjustment of the Income Tax return of taxpayers.

In this way, banks send the Treasury the aggregate sum of money inflows and outflows throughout the year, but They do not communicate each of the payments, collections, withdrawals or income that have been made in itHowever, if the Tax Agency is investigating a person, it may request this additional information.

What operations must be reported to the Treasury?

By money laundering prevention actpeople have to make a prior declaration in certain situations, such as when it comes to a movement of a Entry or exit from Spain of money worth 10,000 euros or more or its equivalent in another currency, affecting both cash and prepaid cards, checks, gold, precious metals… And it will also have to be done if it is a question of movements within Spain for an amount of 100,000 euros or moreor its equivalent in another currency.

For its part, the banking entity has the obligation to send information about the bank accounts of its clients when a series of operations take place. In this way, the AEAT receives annual information about the Cash deposits and withdrawals and collections exceeding 3,000 eurosas well as loans and credits with a balance exceeding 6,000 euros as of December 31, as well as financial transactions related to real estate, such as mortgages.

In addition, it will also report on the operations with checks that have been issued for an amount of more than 3,005.06 euros when paid in cash. Likewise, the Treasury has the power to request banks toInformation about all transactions on a client’s bank accountregardless of the amount.

Beyond those mentioned, there are other economic activities that are subject to control by the Tax Agency, such as investments in securities such as shares or participations in investment funds (regardless of their value), Cryptocurrency investmentsdebit and credit card payments of over 3,000 euros net in the case of self-employed workers, or life insurance policies taken out or income received as beneficiaries.