The FAA issued a Notice of Proposed Rulemaking (“NPRM”) on February 28, 2008 proposing significant changes to its aircraft registration requirements. As with all NPRMs, it is merely a proposal at this point in time and is not a final regulation. However, the proposed changes will affect current aircraft owners, as well as future aircraft transactions. I encourage all aircraft owners to send in comments to the NPRM. To assist interested parties in providing comments to the FAA, I have provided an overview of the NPRM here.