Good to know · Taxes
Modelo 721 - declaration of virtual currencies (crypto-assets) held abroad
Modelo 721 is the informative return on virtual currencies (crypto-assets) held abroad, approved by Orden HFP/886/2023 of 26 July. It is separate from Modelo 720, which does not cover them.
- Why it matters
- Relevant to any Spanish tax resident, including Americans, who holds cryptocurrency on non-Spanish exchanges or in self-custody arrangements understood to be 'located abroad'; this is a newer and less well-documented obligation than Modelo 720 and is easy to overlook.
- When
- Becoming a Spanish tax resident while holding cryptocurrency on a foreign exchange or in a foreign-situated wallet/custody arrangement above the (unconfirmed) threshold.
- How long it takes
- Unconfirmed; by analogy with Modelo 720 a Jan-Mar filing window is plausible but was not confirmed.
- Official page
- Modelo 721: plazo de presentación (preguntas frecuentes)
- Last checked
- 22 Oct 2026
In the guide: the 4 steps, what to bring (2 items), the office with addresses and hours, and tips and what to watch for, with every official source.
One Easy to miss, on us
Once the 50,000 euro total is passed, all the balances are reported, not only the amount above it.