SC IMF UPDATE

Updated Infrastructure Maintenance Fee (IMF) procedure

The following information is an update on the department’s new IMF form, potential exemptions, IMF refunds, as well as Bill of Sale. IMF is to be paid at the time of titling and registering a newly purchased vehicle unless an exemption applies. The IMF is 5% of purchase price, not to exceed $500. In addition to the IMF, there are fees associated with titling and registering the vehicle, as well as property taxes.
Updated IMF Form
The South Carolina Department of Motor Vehicles has implemented a change of form associated with the IMF. The new form, TI-IMF, replaces TI-002T effective immediately. This new form is only to be used for reporting and submitting payment of the IMF collected for sales to government agencies, commercial fleet, commercial vehicles, and out of state purchases. Commercial vehicles additionally need a commercial insurance policy.

Exemptions
Sales of motor vehicles to non-resident active duty military personnel. This exemption does not include motor vehicles designed primarily to carry property such as trucks (with an empty weight of greater than 9,000 lbs. and a gross weight greater than 11,000 lbs.) cargo vans or motor homes.
IMF Payments & Refunds
The retailer is still required to remit the IMF within 45 days from the date of sale.
A signed Bill of Sale/Buyer’s Order will be required for all title transactions showing the total sale prices of the vehicle, minus any trade-in value. This requirement is listed in SC Code: 56-3-627(C) (3).
Customers bringing in a leased vehicle to SC that is registered out-of-state, will be required to pay the $250 move-in fee, unless they meet authorized exemptions.If a customer leased a vehicle and eventually buys the vehicle through the lease to own option, the customer does not have to pay the IMF a second time as long as the registration stays in that customers name. The owner can add a name as long as the previous owner’s name remains of the title/registration.When the department, through error, collects any fee not required to be paid, please email your request to cartaxes. The refund request must be made within six months after the date of such overpayment to receive a refund. Requests for refund submitted after 180 days will not be processed.

Kat Messenger
Carolina Dealer Training

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