[1][2] A total of eight teams were to play in the tournament, with players born on or after 1 January 2004 eligible to participate.

[3] On 18 December 2020, UEFA announced the tournament was cancelled due to the COVID-19 pandemic in Europe.

[4] Germany were to be the defending champions, having won the last tournament held in 2019, with the 2020 edition cancelled due to the COVID-19 pandemic in Europe.

[5] On 18 December 2020, the UEFA Executive Committee announced that the tournament was cancelled after consultation with all 55 member associations due to the ongoing COVID-19 pandemic.

[1] A total of 49 UEFA nations entered the competition, and with the hosts Faroe Islands qualifying automatically, the original format would have seen the other 48 teams competing in the qualifying competition, which once consisted of two rounds: Qualifying round, which was to take place in autumn 2020, and Elite round, which was also to take place in spring 2021, to determine the remaining seven spots in the final tournament.