Frequently asked questions about model 721 (HTML)
Skip information indexWhat information must be provided in form 721?
Those required to submit form 721, “Informative declaration on virtual currencies located abroad” will be required to provide the information contained in the annex to Order HFP/886/2023, of July 26 , which approves model 721 "Informative declaration on virtual currencies located abroad", and establishes the conditions and procedure for its presentation, in accordance with the provisions of article 42 quater of the RGAT.
Thus, the information to be provided to the Tax Administration will include:
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The name and surname or company name or full name and, where applicable, tax identification number of the country of tax residence of the person or entity that provides services to safeguard private cryptographic keys on behalf of third parties, to maintain, store and transfer virtual currencies, as well as your home address or website address.
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The complete identification of each type of virtual currency.
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The balances of each type of virtual currency as of December 31 expressed in virtual currency units and their valuation in euros.
If the obligation to declare had expired before December 31, the information to be provided will be that corresponding to the date on which said extinction occurred.
For more details you can consult Contents of the informative declaration on virtual currencies located abroad, model 721
The presentation of the declaration can be made using the web form available in the Electronic Headquarters of the Tax Agency which can be accessed through the route: Home/All procedures/Taxes, fees and property benefits/Informative declarations/ Form 721.Informative declaration on virtual currencies located abroad.
In the case of using an external program, it must be taken into account that the sending will be carried out electronically by sending messages in XML format, specifically in accordance with the technical specifications contained in the annex to Order HFP/886/2023, of July 26, which approves model 721 "Informative declaration on virtual currencies located abroad", and establishes the conditions and procedure for its presentation.
No. The information must be provided individually for each virtual currency located abroad, identifying them with a different DeclaredRegistrationID.
In the DenominaciónMonedaVirtual and SiglasMonedaVirtual fields, the denomination and acronym of the virtual currency for which the information is being provided must be entered, respectively, as they appear on reference cryptographic rating sites, such as CoinMarketCap.
For example:
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DenominationVirtualCurrency: Bitcoin and AcronymVirtualCurrency: BTC.
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DenominationVirtualCurrency: Ethereum and AcronymVirtualCurrency: ETH.
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DenominationVirtualCurrency: Tether USDt and SiglasMonedaVirtual: USDT.
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DenominationVirtualCurrency: BNB and AcronymVirtualCurrency: BNB.
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DenominationVirtualCurrency: XRP and AcronymVirtualCurrency: XRP.
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DenominationVirtualCurrency: USDC and AcronymVirtualCurrency: USDC.
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DenominationVirtualCurrency: Cardano and AcronymVirtualCurrency: ADA.
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DenominationVirtualCurrency: Dogecoin and AcronymVirtualCurrency: DOGE.
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DenominationVirtualCurrency: Solana and AcronymsVirtualCurrency: SUN.
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DenominationVirtualCurrency: TRON and AcronymVirtualCurrency: TRX.