This is an early release draft of an IRS tax form, instructions, or publication, which the IRS is providing for your information. The. Repossession Affidavit must be submitted with the transfer of ownership documents.Instructions for Completing the Repossession Affidavit. 1. Gather all necessary information about the vehicle and ownership. Voluntary repossession could be a way of dealing with financial distress. Read our article to learn what the pros and cons are. It's a deceptive trade practice if your lender repossesses your vehicle before then. Use Form 9465 to request a monthly installment agreement (payment plan) if you can't pay the full amount you owe shown on your tax return. How to fill out the Motor Vehicle Repossession Services Agreement? Use Schedule C (Form 1040) to report income or (loss) from a business you operated or a profession you practiced as a sole proprietor.
