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Frequently asked questions about Form 721 (HTML)

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Which virtual currencies will not be subject to this reporting obligation?

This information obligation will not apply to the following virtual currencies:

  1. Those owned by the entities referred to in article 9.1 of Law 27/2014, of November 27, on Corporate Tax.

  2. Those held by legal persons and other entities resident in Spanish territory, as well as permanent establishments in Spain of non-residents, registered in their accounting records individually and identified by their name, value and custodian entity and country or territory in which they are located.

  3. Those held by natural persons resident in Spanish territory who carry out an economic activity and keep their accounts in accordance with the provisions of the Commercial Code, registered in said accounting documentation on an individual basis and identified by their name, value and custodian entity and country or territory in which they are located.

  4. There will be no obligation to report any virtual currency when the balances as of December 31 of each type of virtual currency abroad valued in euros do not jointly exceed 50,000 euros. If this joint limit is exceeded, all virtual currencies must be reported.