Unofficial translation provided for information purposes.
Please note our language policy.
As stated in current regulations, reporting institutions are bound to declare to the Centralized Banking Account Register (FTF, from its initials in Spanish) the opening, cancellation and changes of any current accounts, savings accounts, fixed term deposits and any other payment accounts, as well as safe deposit box rental contracts and their rental period, regardless of their commercial name.
This communication shall be done on a monthly basis and shall include, in any case, the identification data of the owners, beneficial owners, representatives or authorised persons, as well as any other persons with powers of disposal, and shall include any variation regarding data on those account holders. The information on the products to be declared shall, in any case, include the numbering identifying the product, the type of product declared and the dates of opening and cancellation. In the case of safe deposit boxes, the duration of the rental period shall be included. Other identification data to be declared may be determined by regulation.
Data reports to FTF shall not include information on the safe deposit boxes, accounts and deposits of branches or subsidiaries of Spanish reporting institutions abroad.
Credit Institutions, electronic money institutions, payment institutions and their branches in Spain of both EU and non-EU foreign institutions, are due to report relevant information to the FTF.
Data reports must be done according to the specifications provided by the “Instrucciones para la declaración de información al FTF”.
In Spanish only. Fichero de Titularidades Financieras (FTF) Instrucciones para la declaración de información al FTF
Reporting institutions are responsible for the quality, integrity and accuracy of the data declared to the FTF, having to apply the necessary validation procedures at origin. The information contained within the reporting files must fulfil the quality validations defined by Sepblac, for which a quality verification tool is provided by the latter.
In Spanish only. Herramienta 10.2.1
Should any omission or error be noted, Sepblac, notwithstanding any due liability, shall request reporting institutions to immediately provide the data omitted or to revise the wrong data reported.
Within the first seven business days of every calendar month, reporting institutions shall submit to Sepblac a file containing the opening, cancellation and changes to products, as well as to any holder in them, registered in the immediately preceding calendar month.
Reporting institutions that at the end of any calendar month have no information to report shall submit to Sepblac, within the first seven business days of the following calendar month, a nil monthly report in which this circumstance will be communicated.
In the case of new creation reporting institutions or foreign reporting institutions opening a branch in Spain, the first submission must be done within the first seven business days of the calendar month following to its inclusion in the Institutions Register by the Bank of Spain. In case the new institution not have opened any FTF reportable product during the first month, a nil report shall be submitted.
In any case, the following formality aside, reporting institutions shall submit a monthly file referred to the previous month within the first seven business days of every calendar month.