Declaring Revolut in Spain: what still applies

The confusing part of Revolut is that one app blends a bank, a broker and a crypto custodian, each with its own rule. The recent good news: Revolut operates in Spain as a branch of Revolut Bank UAB registered with the Banco de España (branch no. 1583) and has been migrating accounts to Spanish IBANs, so the banking piece stopped being a “foreign account”. Rules verified as of the date above; no screenshots (they change with every version), and general information, not advice.

The account: check your IBAN country

With the Spanish branch, migrated accounts carry ES IBANs under Banco de España supervision: no form 720 for that balance. Check the IBAN country in the app: if for any reason you still hold the old Lithuanian one, that balance remains a foreign account and counts toward form 720 with the joint 50,000 threshold. In both cases deposits stay covered by the Lithuanian guarantee fund up to 100,000 EUR, because the branch still belongs to Revolut Bank UAB. Interest from the savings features goes into your return either way.

The stocks: the return is fixed, custody rules the 720

Gains and dividends into the savings base (19-30% since 2025), FIFO, and export the annual statement every January because rebuilding it later is expensive. US dividends carry the 15% treaty withholding at source (Revolut processes the W-8BEN when you activate trading), creditable in your return. And the securities 720? It depends on WHERE your titles are custodied and whether that entity reports to the Spanish tax agency from Spain: check in your contract which entity provides the securities service on your account and where it sits; near the 50,000 threshold, ask an advisor with that datum in hand.

The crypto: the same principle for form 721

Crypto on Revolut is custodied by the platform, not your keys. Selling or swapping realizes a gain into the return (the FIFO arithmetic is our calculator’s job); and for form 721 the same principle as securities applies: the criterion is the custody’s domicile, not the app’s brand. The Trade Republic case (exemption confirmed by the tax directorate after its Spanish branch opened) shows the pattern: these criteria move, and they deserve re-checking every campaign.

The January routine

Export the stock statement and the crypto history, note the country of your IBAN and your custodies on 31 December, and decide from that which forms apply. Fifteen minutes, once a year. Checked 2026-08-22 against Revolut’s Spanish IBAN announcement.