Buying&Selling 2.qxp_Finance 21/12/2021 09:18 Page 1
BUYING & SELLING AIRCRAFT
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…
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ircraft 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 deregistration from the FAA registry and/or issuance of an export certificate of airworthiness
54 Vol 26 Issue 1 2022 AVBUYER MAGAZINE
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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. As the failure to comply with applicable export laws (including making Electronic Export Information (EEI) filings when required), may result in significant www.AVBUYER.com
