A neural network based approach is applied to model a PMSM. A multilayer recurrent network provides a near term fundamental current prediction using as an input the fundamental components of the voltage signals and the speed. The PMSM model proposed can be implemented in a condition based maintenance to perform fault detection, integrity assessment and aging process. The model is validated using a 15 hp PMSM experimental setup. The acquisition system is developed using Matlab®/Simulink® with dSpace® as an interface to the hardware, i.e. PMSM drive system. The model shows generalization capabilities and a satisfactory performance in the fundamental current determination on line under no load and load fluctuations.