Trade republic simplifies spanish tax season for millions

Millions of Trade Republic users in Spain can breathe a little easier this tax season. The popular neobank is proactively streamlining the notoriously complex process of declaring income from investments, a move that could save clients considerable time and potential headaches with Hacienda.

Early tax report delivery averts last-year's frustration

Last year, delays in receiving the necessary fiscal reports from Trade Republic caused frustration for many users scrambling to meet tax deadlines. This year, however, the company promises a significant improvement. Pablo López, Trade Republic’s head in Spain, announced via X (formerly Twitter) that the fiscal report will be available before the official start of the tax campaign, a welcome change for those who prefer to be prepared.

The shift is largely due to Trade Republic’s adoption of Spanish IBANs starting in June 2025. This crucial change means clients who completed the transition and hold accounts with Spanish IBANs are exempt from submitting Modelo 720/721, a significant simplification compared to previous years. The Dirección General de Tributos has confirmed this exemption, further reducing the administrative burden for Trade Republic’s user base.

Automatic data integration & manual inputs: what you need to know

For clients who migrated to an IBAN, Hacienda will automatically include investment data from the date of migration onwards. However, López cautions that data from earlier periods must be entered manually to avoid potential penalties or adjustments. “It’s vital to pay close attention to these earlier periods,” he emphasized, “to ensure your information aligns with what Hacienda has on record.”

Trade Republic's proactive approach extends beyond simply providing the report. The company is actively communicating key dates and instructions to its users. The 2025-2026 tax campaign officially begins on April 8th, 2026, and extends until June 30th. Telephone submissions are possible from May 6th to June 30th, requiring a prior appointment, while in-person submissions can be made from June 1st to June 30th, also by appointment.

The numbers speak for themselves: Trade Republic boasts over eight million users in Spain, solidifying its position as a leading neobank. This latest move underscores its commitment to simplifying financial management for its clients, even when it involves navigating the complexities of Spanish tax law.

Key dates & faqs

Here's a quick rundown of essential dates and answers to frequently asked questions:

• Tax Campaign Start & End: April 8th – June 30th, 2026
• Telephone Submissions: May 6th – June 30th, 2026 (appointment required)
• In-Person Submissions: June 1st – June 30th, 2026 (appointment required)
• Do I need to submit Modelo 720/721? If you have a Spanish IBAN as of December 31st, 2025, no.
• When will the fiscal report be available? Before the campaign begins, accessible via the Trade Republic app.

Trade Republic’s efforts to proactively manage the tax reporting process demonstrate a genuine understanding of the challenges faced by investors. It’s a welcome development for a significant portion of the Spanish population.