Peter is correct about the FAA IR being non-expiring but if I let my MEP lapse I could keep IR current on the SE but not sure if this would be legal as far as the FAA is concerned (a couple of "typos" corrected :)
You are currently allowed to fly N-registered multi-engine land airplanes only if your UK CAA PPL presently allows you to do so.
If you fail to revalidate "your multi-engine privileges" in the UK, you will also cease to be able to exercise "these multi-engine privileges" under your 61.75 FAA pilot certificate.
However, as long as your UK "single-engine privileges" remain valid (current UK BFR....) and you keep satisfying FAA currency requirements (current FAA flight review, "6-in-6" instrument approach currency....) you will continue to be allowed to fly N-registered single-engine airplanes under IFR.
In the past I had to face a very similar "dilemma" to yours.
Antek...........thanks for the info....exactly what I was hoping would be the case....
Many thanks
Ps...just received similar confirmation from the US flight school I used for the IR.....and that anytime in the future could reactivate ME privileges by reactivating ME rating....
Just as a matter of interest Antek, since I see you are based in Canberra, does anybody there operate Nreg aircraft with FAA IR to circumvent the also fairly onerous Australian currency and revalidation requirements?
To the best of my knowledge there are no N-registered airplanes based in Canberra. There is an USAF King Air stationed here that is used by people from the US Embassy. There are, however, several light N-registered craft based at Bankstown, Sydney's "secondary" airfield.
just received similar confirmation from the US flight school I used for the IR.....and that anytime in the future could reactivate ME privileges by reactivating ME rating....
Provided the ME rating on your "foreign licence" (= your UK CAA licence or Its EASA replacement) remains current or is regained after being allowed to lapse.