FAA Mandates 21-Day Turnaround For Aircraft Transaction Notices
March 4, 2008 — A final rule issued by the FAA last week requires a person selling or otherwise transferring ownership of a U.S.-registered aircraft to complete the back side of the aircraft's existing registration certificate (FAA Form 8050-3) and return it to the FAA Aircraft Registration Branch within 21 days of the transaction. That requirement becomes effective on March 31, 2008.
This change was part of the final rule published recently that requires all pilots to replace their paper pilot certificate with a counterfeit-resistance plastic certificate within the next two years.
The FAA originally proposed a five-day time limit on reporting the sale or transfer of aircraft, but adopted a 21-day period in response to comments suggesting five days was an unrealistic requirement. Sellers will have to complete the reverse side of the certificate and ensure its arrival at the Registry within that time.
Additionally, the FAA is requiring people applying for aircraft registration to include their printed or typed name with their signature. This change is in response to concerns raised in the FAA Drug Enforcement Resistance Act. The purpose of these changes is to upgrade the quality of data and documents to assist federal, state, and local agencies to enforce the nation's drug laws.