Form 720 & Form 721: Declaration of Assets & Cryptocurrencies Abroad (Fiscal Year 2025)

The deadline of 31 March 2026 marks the end of the period to submit the informative declaration of assets and rights located abroad (Form 720) corresponding to the 2025 tax year.

This declaration is informative in nature and requires certain taxpayers resident in Spain to report to the Spanish Tax Agency (Agencia Tributaria) the ownership of certain assets located outside Spain.

You may be required to file Form 720 if, as of 31 December 2025, you are the holder, authorised person, beneficiary, or have power of disposal over assets located abroad and the total value exceeds €50,000 in any of the groups established by the regulations.

One of these groups corresponds to bank accounts held abroad, which include current accounts, savings accounts, or deposits opened with financial institutions outside Spain.

Certain investments and financial products held abroad must also be declared, such as shares or participations in foreign companies, investment funds, securities or bonds, life insurance policies taken out with foreign entities, or life or temporary annuities.

In addition, Form 720 includes the declaration of real estate located abroad, such as residential properties, commercial premises, or other rights over real estate located outside Spain.

If you have already filed Form 720 in previous years, it is not necessary to submit it again every year. It will only need to be filed again when the value of any of the declared asset groups increases by more than €20,000 compared to the last declaration submitted, or when the sale, cancellation, or loss of ownership of any of the previously declared assets occurs.

There is also an obligation to file Form 721 before 31 March 2026 when the total value of cryptocurrencies deposited on platforms located abroad exceeds €50,000.

If during 2025 you have held bank accounts abroad, financial investments outside Spain, real estate in other countries, or cryptocurrencies deposited on foreign platforms, we recommend that you inform us so that we can review whether there is an obligation to file Form 720 or Form 721.

If such an obligation exists, we will need to receive the relevant information before 25 March 2026 in order to prepare and submit the declaration on your behalf within the established deadline.

At ILIA ETL GLOBAL we have a team specialised in international taxation that can help you review your situation and manage the filing of Form 720 and Form 721.

You can obtain more information in the section specifically dedicated to Form 720 on the ILIA ETL GLOBAL website, or contact our Tax Department if you have any questions.