In Spain there are three key forms you must file when you operate with crypto:
foreign balances (Form 721)
total wealth (Form 714)
income/crypto earnings (Form 100)
Below we break down who, what and when you need to submit each of them.
The CryptoBooks precompiled Report in Spain
The report you receive from CryptoBooks is specifically designed to help you accurately complete your Spanish tax return, offering pre-calculated figures and clear, step-by-step instructions.
CryptoBooks’ precompiled reports for Spanish users are tailored to each required tax form and include:
a comprehensive guide on how to file the tax return
all the data you need to declare, presented exactly as it appears in the tax software, with images and in the correct format.
You’ll also receive a complete list of your taxable transactions and year-end valuations, which you can keep for your records in case of a tax audit.
Form 721 - Declaration of foreign crypto asset balances
All residents in Spain who, at any time during the year, hold combined balances exceeding € 50,000.00 in crypto assets managed by third parties outside Spain must file Form 721.
What is considered to be “foreign”?
To understand of an exchange or wallet must be considered foreign or resident in Spain we need to divide them in 2 groups:
non-custodial wallets
you control your private keys and funds yourself (e.g., MetaMask), they never require declaration
custodial wallets
a service holds your private keys and manages your crypto (e.g., Coinbase), they require declaration if one of these consitions is met:
They have no legal headquarters in Spain
They are not registered with the Bank of Spain
⚠️ Warning
If a platform appears in the Bank of Spain register but its legal headquarters are outside Spain, it must be declared as foreign.
How to report crypto assets
To declare your crypto balance, you'll need to open the online declaration tool for Form 721 Link Here.
Then, complete the required fields for each service/provider and each currency held abroad (as of 31 December):
proveedor de servicios/custodio: full name (or corporate name), foreign tax ID (if any), and domicilio o sitio web of the provider
país/jurisdicción del proveedor: country where the provider is established
denominación y siglas de la moneda virtual: e.g., Bitcoin (BTC), Ethereum (ETH), USDC (USDC)
unidades a 31 de diciembre (23:59): number of units held for each currency
valoración en euros a 31 de diciembre: euro value of each currency balance on that date. If the reporting obligation ended before 31 December, put the date on which it ended
Deadlines and penalties
The filing window for Form 721 in Spain runs from January 1 to March 31, 2025. Missing this window may result in a fixed penalty of approx. €200.00 for late submission, €150.00 for incorrect or missing information, and additional interest charges
Form 714 - Wealth tax return
Form 714 is mandatory if your assets exceed €2.000.000,00, or if your net assets are above the exempt minimum.
Generally the threshold is € 700.000,00, but it can vary depending on your autonomous community: for example, the exempt minimum is €600.000,00 in the Valencian Community and €500.000,00 in Catalonia.
Assets to consider when determining if you exceed the threshold:
real estate (fiscal value)
financial investments (stocks, funds, bank accounts)
virtual currencies (official euro value as of 31 of the previous year)
other assets (vehicles, jewelry, works of art, ect...)
How to report crypto assets
To declare your crypto balance, you'll need to open the online declaration tool for Form 714 Link Here.
Then, go to Annex III, Section “Q” – Balances in virtual currencies, where you’ll need to enter the following information for each of your assets:
clave: title of the virtual currency balance - selecting P for Full ownership or N for Bare ownership
titularidad/Usufructo: percentage of ownership of declared cryptocurrencies
nombre o tipo de moneda virtual: extended name of crypto asset (such as Bitcoin, Ether, SOL, USDCoin) or category of crypto asset (such as NFT)
nº de unidades: number of units of crypto assets held as of December 31
valor (euros): value in euros of cryptocurrencies held as of December 31
Deadlines and penalties
The filing deadline for Form 714 in Spain is before June 30. Missing this deadline may result in a fixed penalty of approximately €200 for late submission, €150 for providing incorrect information, and additional interest charges for any late payments.
Form 100 - Income Tax Return and Crypto Earnings
Form 100 covers all your income and capital gains. For cryptocurrencies, you must declare:
gains and losses from sales or swaps of crypto assets in box 1804
airdrops in box 0304
staking and farming rewards in box 0033
How to report your transactions and incomes
To report capital gains go to the section called “Capital gains and losses from the transfer or swap of virtual currencies (individuals)” and enter the following data for each taxable operation in Box 1804:
denominación de la moneda virtual: name/symbol of the crypto (e.g., BTC, ETH).
tipo de contraprestación recibida a cambio: select from the dropdown (e.g., EUR/fiat or another virtual currency).
valor de transmisión (euros): sale value in euros on the transfer date.
valor de adquisición (euros): acquisition cost in euros (include fees, FIFO).
fechas de adquisición y transmisión: day/month/year for each leg of the operation.
To report airdrops, declare the total market value of all cryptocurrencies received as airdrops at the time of receipt in Box 0304 (F1 – non-transfer capital gains).
To report staking or farming rewards, declare the total market value of all cryptocurrencies received from staking or farming at the time of receipt as investment income in Box 0033 (Savings base).
Deadlines and penalties
The filing deadline for Form 100 in Spain is before June 30. Missing this deadline may result in a 5%–20% surcharge on unpaid tax (depending on the delay) or an approx. €200.00 flat fine if no tax is due, plus late-payment interest.