Statewide Iowa — If you buy or sell vehicles as a private party in Iowa, you should know that there is a change on the horizon starting soon.
Effective January 1, 2020, according to county treasurer officials, all vehicle or trailer transfers in most counties will be required to provide a bill of sale, whether the transaction is private or through a dealership.
They tell us that the bill of sale should include the seller’s name, buyer’s name, make of vehicle, year of the vehicle, Vehicle Identification Number (VIN), date of sale, purchase price and signature of both the buyer and seller. This information can be handwritten on a piece of paper or you can contact your treasurer’s office.
The change will happen in O’Brien and Osceola counties, effective January 1st. In Lyon County, Treasurer Russ Hopp tells us that at this point, they are suggesting a bill of sale, but haven’t decided to require it. He says it is a change that is being pushed by state officials, but it’s up to the individual county treasurers to decide. Sioux County Treasurer Randy Jacobsma says Sioux County has been requiring a bill of sale on all transactions for around four years now. He says the Treasurer’s Association would like uniformity amongst all counties and the Department of Transportation and Department of Revenue would like purchase price assurance on all transactions.
Treasurer officials tell us the Iowa State County Treasurers’ Association along with the Iowa Department of Revenue are trying to validate vehicle purchase prices, which have a direct impact on the State’s Road Use Tax Fund. The Department of Revenue is making the bill of sale a best practice for all Iowa counties in 2020, and they say this will make all Iowa counties more consistent. The Treasurers’ Association Executive Board and county treasurers are trying to be proactive and require the bill of sale prior to it being mandated by the Department of Revenue.
