Form 347: the transactions that go over €3,005.06
An informative return: nothing is paid. You declare who you moved more than €3,005.06 with during the year, and Hacienda cross-checks your return against the other party's. Most of February's letters come out of that cross-check.
What form 347 is
Form 347 is an annual informative return. You declare every client and every supplier with whom, adding up the whole year, you have gone over €3,005.06 including VAT.
Nothing is paid over. Its use to Hacienda is the cross-check: if you declare €12,000 with a supplier and he declares €9,000 with you, the alarm goes off. That is why the 347 generates so many formal queries without anybody having evaded anything: it is enough for one party to assign an invoice to December and the other to January.
Who has to file it
Business people and professionals who have gone over that amount with someone. But there are important exclusions:
- Anyone on the SII does not file the 347: they already send that information daily.
- Transactions already covered by other informative returns are not declared, such as the intra-Community ones on the 349 or the withholdings on the 190.
- Nor are transactions where there is no obligation to issue an invoice or to identify the customer.
Non-profit bodies file it for the transactions they carry out outside their exempt activity, something many of them find out late. And comunidades de propietarios, the owners' associations of a block of flats, are inside it too, with their own rules.
When the 347 is filed
With the weekend shifts already applied: when the last day falls on a Saturday, a Sunday or a public holiday, the deadline ends on the next working day.
| Period | Deadline | Note |
|---|---|---|
| Full tax year | 1 February → 2 March | In 2026, because 28 February falls on a Saturday |
And a clarification that needs repeating every year: the 347 is still filed in February. There was an order bringing it forward to January, but it was left without effect before it ever applied. There are still guides out there saying otherwise.
What to keep in mind
- The amount includes VAT. A client you have invoiced €2,600 plus VAT is already over the threshold: €3,146.
- It is declared quarter by quarter. The annual total is not enough: you have to break down how much fell in each quarter, and that is where the mismatches with the other party show up.
- Sales and purchases are declared separately, with code A for purchases and code B for sales. If you are both a client and a supplier of someone, that is two lines.
- Cash payments received above €6,000 from the same person are reported separately.
- The letting of business premises has its own treatment.
Why it throws up so many mismatches
Almost always because of differences in timing: the December invoice that the supplier assigns to the fourth quarter and the client to the first quarter of the following year. And the striking part is that both parties are doing it correctly: the rules require each transaction to be assigned to the period in which the invoice has to be entered in the record book, and that entry does not fall in the same quarter for the party issuing it as for the party deducting it.
The second cause is the base without VAT against the base with VAT: one declares €3,000 and the other €3,630. It is the same money and the cross-check still grates.
The mistakes that come up most on the 347
The 347 does not cause trouble because of what you declare: because of what the other party declares.
Counting without the VAT
The €3,005.06 threshold includes VAT. Counting only the taxable base leaves out clients who did have to be declared.
Not breaking it down by quarter
The annual total is not enough. You have to say how much fell in each quarter, and that is the figure Hacienda cross-checks in most detail.
Assigning it by the invoice date
The period is set by the entry in the record book, not by the date of the transaction. The December invoice you deduct in the first quarter goes to the first quarter, even though your supplier declares it in the fourth.
Filing it while on the SII
Anyone keeping their books through the Immediate Supply of Information is exempt from the 347. Filing it anyway is not a crime, but it is unnecessary.
Screenshot of the ERP: the form 347 screen
Where every number on the 347 comes from
Nothing has to be typed in again: the form is worked out from the invoices and the expenses you have already entered during the period.
- It works out on its own which clients and suppliers go over the threshold, VAT included.
- It breaks each one down by quarter, which is what the form asks for.
- It separates the purchase and sale codes when someone is both.
- And it flags the cases hovering around the threshold, so you can review them before February.
And you can open any box
Every amount on the form can be expanded to see exactly which invoices and which expenses make it up. That is what turns a figure into something you can defend if you are asked.
The 347 comes out of what you have already entered
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Questions about form 347
This page is for information and is reviewed whenever the legislation or the calendar changes. It does not replace your accountant: for your own case, ask someone who knows your numbers.
So the 347 stops taking an afternoon
If the invoices and the expenses are in, the form is already done.
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