Forms 720 and 721: declaring assets and cryptocurrencies abroad

Spanish tax residents must declare their assets and rights located abroad when they exceed €50,000 per category.

Form 720: assets and rights

• Bank accounts with foreign financial institutions.
• Securities, shares and funds held outside Spain.
• Real estate abroad.

Form 721: cryptocurrencies

Since 2024, cryptocurrencies held on foreign exchanges (Binance, Coinbase, Kraken, etc.) worth more than €50,000 at 31 December must be declared on Form 721.

Deadlines and penalties

It is filed between January and March of the following year. After the CJEU ruling, the disproportionate penalties have been moderated, but non-compliance is still punishable. At DPL Asesores we handle both forms.