What are the requirements and fees on a transfer of ownership?
A purchaser of an aircraft who will be basing and operating the aircraft for more than 30 days in Iowa shall provide the following to the department within 30 days of purchase date: • the notice of transfer of ownership; • fully completed aircraft registration application; and • five percent use tax with a copy of a bill of sale, or • a letter of exemption from the Department of Revenue and Finance; • proof that the aircraft was purchased by a licensed aircraft dealer for resale, rent or lease. If the aircraft is currently registered, the fees shall transfer to the purchaser of the aircraft. The notice of transfer of ownership must be submitted within 30 days from the date of purchase to avoid a $5 penalty. Any delinquent registration fees and penalties must be paid at the time of transfer.
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