When purchasing a boat, it is critical for the buyer to get a boat bill of sale. In Illinois, the bill of sale is used to transfer the ownership from the seller to the buyer. The buyer has 30 days from the date of sale, or will face penalties.
Steps to Fill out an Illinois Boat Bill of Sale
- Download the free sample template (below)
- Enter the sales price of the boat
- Enter the purchaser’s name and address
- Enter the seller’s name and address
- Enter the description of the boat. Typical information includes make, year, hull ID number, motor model, horsepower and serial number.
- If a trailer is included in the sale, enter information about it including the make, model, year and serial number.
- The buyer and seller must both sign the bill of sale either in front of a non-related witness or a notary public. Not doing so will invalidate the document.
Q – Do I have to send in a bill of sale in Illinois when buying a boat and trailer from an individual?
Answer – There are a few steps to complete the registration for a boat and trailer.
- Complete the Watercraft Application from the Department of Natural Resources
- Mail the completed watercraft application and signed title along with the boat transfer fee paid by check or money order to DNR.
- Fill out the RUT-75 tax form, which is the Use Tax Transaction Return from the Illinois Department of Revenue.
- Send the completed RUT-75 and boat bill of sale along with a check or money order payable to the Department of Revenue.