This webinar covers the basic rules for importing aircraft through U.S. Customs and related tariff issues. While imports through Customs have long been required and penalties for violations severe, understanding the requirements is especially important today due to the unfamiliar, complicated, and evolving tariff rules that now apply to aircraft imports.
Key insights from the discussion included:
Don’t be fooled by these Myths!
• U.S. registered aircraft do not need to be imported through U.S. Customs. WRONG!
• Tariffs don’t apply to U.S. registered aircraft. WRONG!
• Tariffs don't apply to used aircraft. WRONG!
Important Considerations:
• Do your due diligence.
• Consider possible tariff implications when deciding where you should conduct a pre-buy inspection (PBI) and/or closing since an aircraft arrival in the US, even for a PBI or closing, could constitute an “import” and subject the parties to a tariff.
• Ensure the purchase agreement is clear as to which party is responsible for paying a tariff (if applicable).
Summary:
• Consult a knowledgeable professional before moving an aircraft to the U.S. since importation rules are complicated, and misunderstanding tariffs could lead to costly mistakes.