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Modelo 721 Crypto Calculator — Spain 2026
Spain's Modelo 721 requires declaring crypto assets held on foreign exchanges when the aggregate value exceeds €50,000. Check your filing obligation for tax year 2026 (deadline: 31 March 2027).
Enter your exchange positions
Exchanges and asset values as of 31 December 2026
Leave unchecked if you previously filed Modelo 720 or 721 and want to verify the €20,000 increment rule.
Total crypto value declared in your last Modelo 720/721 filing.
Filing analysis
Total declarable value (foreign exchanges)
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First-filing threshold
€50,000
Increase vs. previous tax year
Filing required if increase exceeds €20,000
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Filing deadline
31 March 2027
You must file Modelo 721
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No filing obligation
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Breakdown by exchange
Important: Only assets held in foreign exchanges and custodians count toward the Modelo 721 threshold. Crypto in self-custody wallets (hardware or software) or Spanish-registered platforms does not apply — though other reporting obligations may exist.
This calculator is for guidance only. Consult a professional for personalized analysis.
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What is Spain's Modelo 721?
Modelo 721 is Spain's annual informational declaration for cryptocurrency and virtual assets held abroad. Introduced by Law 11/2021 (Anti-Fraud Law) and mandatory from tax year 2022, it specifically targets digital assets held by foreign custodians and exchanges — complementing Modelo 720, which covers other foreign assets.
Filing is triggered when the aggregate market value of all crypto held on foreign platforms exceeds €50,000 at 31 December of the relevant tax year. In subsequent years, filing is also required if the value has increased by more than €20,000 compared to the last declared year — even if the total remains below €50,000.
Penalties for non-compliance are severe: €5,000 per omitted item (minimum €10,000) or €100 per item declared late (minimum €1,500). At BMC, our digital assets tax specialists manage Modelo 721 filings and advise on the full tax picture — income tax (IRPF/IS), Wealth Tax (Patrimonio), and Modelo 172/173 exchange reporting. See our Crypto Tax service.
Frequently asked questions
Do self-custody wallets (cold/hot wallets) count?
No. Crypto in self-custody wallets (Ledger, Trezor, MetaMask, etc.) does not fall under Modelo 721. Only assets held by foreign third-party custodians — exchanges, custodial platforms, DeFi protocols with a foreign counterparty — are reportable.
Which exchanges are considered "foreign"?
An exchange is foreign if it is not domiciled in Spain and does not hold a Spanish CIF registered with the CNMV or AEAT. Most major international exchanges (Binance, Coinbase, Kraken, OKX, Bybit, etc.) qualify as foreign entities even if they serve Spanish customers.
How are crypto assets valued?
Assets are valued at their market price on 31 December of the relevant tax year, converted to euros. For tokens without a direct EUR market, the ECB's official EUR/USD exchange rate on that date applies.
What about staking, lending, or DeFi positions?
Yes, if the assets are under the custody of a foreign provider. Assets deposited in DeFi smart contracts on public blockchains remain a regulatory grey area pending clarification from the AEAT. Professional advice is strongly recommended for complex DeFi positions.
Does Modelo 721 apply to non-residents of Spain?
The obligation applies to Spanish tax residents. If you spend more than 183 days per year in Spain or have your main economic interests there, you are generally considered a tax resident and must comply. Non-residents may still have other reporting obligations under Modelo 172/173.
Need help with Modelo 721?
Our crypto tax advisors handle Modelo 721 filings and provide full guidance on the tax treatment of your digital asset portfolio in Spain.