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Frequently asked questions about Form 721 (HTML)

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What 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 of Order HFP/886/2023, of July 26 , which approves form 721 "Informative declaration on virtual currencies located abroad", and establishes the conditions and procedure for its submission, in accordance with the provisions of article 42 quater of the RGAT.

Thus, the information to be provided to the tax authorities will include:

  1. The full name and surname or company 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 their address or website address.

  2. The complete identification of each type of virtual currency.

  3. The balances of each type of virtual currency as of December 31 expressed in virtual currency units and their valuation in euros.

If the status of taxpayer having to file a declaration has expired before 31 December, the information to be provided will be that corresponding to the date on which said extinction occurred.

For more details, please consult Contents of the information declaration on virtual currencies located abroad, form 721

The declaration can be submitted using the web form available at the Electronic Office of the Tax Agency, which can be accessed via the following route: Home/All procedures/Taxes, fees and property benefits/Information declarations/Form 721.Information declaration on virtual currencies located abroad.

In the case of using an external program, it must be taken into account that the submission will be done electronically by sending messages in XML format, specifically in accordance with the technical specifications contained in the annex of Order HFP/886/2023, of July 26, which approves form 721 "Informative declaration on virtual currencies located abroad", and establishes the conditions and procedure for its presentation.

No. Information must be provided individually for each virtual currency located abroad, identifying them with a different IDRegistroDeclarado.

In the fields VirtualCurrencyDenomination and VirtualCurrencyAcronym, the denomination and acronym of the virtual currency for which the information is being provided must be entered, respectively, as they appear on the reference cryptographic rating sites, such as CoinMarketCap.

For example:

  • VirtualCurrencyDenomination: Bitcoin and Virtual Currency Acronyms: BTC.

  • VirtualCurrencyDenomination: Ethereum and Virtual Currency Acronyms: ETH.

  • VirtualCurrencyDenomination: Tether USDt and Virtual Currency Acronym: USDT.

  • VirtualCurrencyDenomination: BNB and Virtual Currency Acronym: BNB.

  • VirtualCurrencyDenomination: XRP and Virtual Currency Acronym: XRP.

  • VirtualCurrencyDenomination: USDC and Virtual Currency Acronyms: USDC.

  • VirtualCurrencyDenomination: Cardano and Virtual Currency Acronyms: ADA.

  • VirtualCurrencyDenomination: Dogecoin and Virtual Currency Acronym: DOGE.

  • VirtualCurrencyDenomination: Solana and AcronymsVirtualCurrency: SUN.

  • VirtualCurrencyDenomination: TRON and Virtual Currency Acronyms: TRX.