Get the free Aircraft Value Substantiation Form - AOPA Insurance Services

OFFICE 1995 MIDFIELD ROAD WICHITA, KS 67209 MAIL P.O. BOX 9170 WICHITA, KS 67277 P 800622 APA 2672 F 316 942 0091 coinsurance.org Date Customer No. Aircraft Value Substantiation Form Policyholder

How to fill out aircraft value substantiation form

How to fill out an aircraft value substantiation form:

1. Begin by providing your personal details, such as your name, contact information, and any relevant job title or position.
2. Specify the aircraft information, including the make, model, and registration number. You may also need to provide the aircraft's age, total flight hours, and any modifications or upgrades.
3. Indicate the purpose of the value substantiation form. Are you submitting it for insurance purposes, legal matters, or financial evaluations? Clearly state the reason for completing the form.
4. Provide a detailed description of the aircraft's current condition. This may include information on its airframe, interior, avionics, engines, and any recent maintenance or repairs.
5. Include the market value of the aircraft. This should be supported by thorough research and analysis, considering factors such as recent sales of similar aircraft, market trends, and expert opinions if available.
6. If applicable, include any additional valuation approaches used, such as the Income Approach or the Cost Approach. Explain the rationale behind using these methods and provide detailed calculations or estimates.
7. Attach any supporting documents that validate the value of the aircraft. This may include appraisals, sales contracts, maintenance records, or market research reports.
8. Review your completed form to ensure accuracy and clarity. Double-check all the information provided and make any necessary corrections or additions.
9. Sign and date the form to certify the accuracy of the information provided. If required, have any relevant parties involved in the valuation process sign the form as well.
10. Submit the completed form to the appropriate recipient, following the specified submission guidelines or instructions.

Who needs an aircraft value substantiation form:

1. Aircraft owners - When determining the value of their aircraft for insurance purposes, selling or purchasing decisions, or legal matters, owners may need to fill out an aircraft value substantiation form.
2. Insurance companies - Aircraft insurers may require aircraft owners to complete this form to assess the value of the aircraft and determine appropriate insurance coverage and premiums.
3. Financial institutions - Banks or lenders may request an aircraft value substantiation form to evaluate the worth of an aircraft used as collateral for a loan or during financing transactions.
4. Aviation professionals - Professionals involved in aircraft appraisal, brokerage, or consulting services may utilize this form as part of their assessment process or to provide expert advice to clients.
5. Legal entities - Law firms, regulatory bodies, or courts may request an aircraft value substantiation form to resolve disputes, settling estates, or for legal proceedings involving aircraft assets.

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What is aircraft value substantiation form?

The aircraft value substantiation form is a document used to provide proof of the value of an aircraft for tax or regulatory purposes.

Who is required to file aircraft value substantiation form?

Aircraft owners or operators are typically required to file the aircraft value substantiation form.

How to fill out aircraft value substantiation form?

The form must be completed with detailed information about the aircraft, including its make and model, year of manufacture, and current condition.

What is the purpose of aircraft value substantiation form?

The purpose of the aircraft value substantiation form is to ensure that the value of an aircraft is accurately reported for tax or regulatory purposes.

What information must be reported on aircraft value substantiation form?

Information such as the aircraft's make, model, year of manufacture, current condition, and any recent appraisals or valuations must be reported on the form.