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Aircraft Export Laws: Owners, Beware!

Aircraft Export Laws: Owners, Beware!

With an increase in US government enforcement actions for failure to comply with applicable aircraft export laws, it’s vital to understand these complex requirements and regulations. Here, the National Aircraft Finance Association (NAFA) breaks them down.

Aircraft transactions are complicated and involve a host of tax and regulatory issues. While attention has rightly been focused on federal and state tax planning and compliance with FAA, DOT (among other agencies) regulations, compliance with US export laws has often been inadvertently overlooked.

In many cases, parties have failed to properly export aircraft due to confusion over, and lack of awareness of, the requirements.

  • One common misconception is that de-registration from the FAA registry and/or issuance of an export certificate of airworthiness satisfy US export clearance requirements.
  • Another common misconception is that export laws and export clearance requirements are not applicable to US registered aircraft.
  • Further, the export regulations are not written with aircraft in mind, so applying them within the context of aircraft transactions can be difficult.

Nevertheless, recent government enforcement actions, including an uptick in aircraft seizures, have placed a spotlight on the importance of compliance with US export laws.

Read full article here.

This article was originally published by AvBuyer on January 10, 2022.


 January 24, 2022