On April 11, 2021, about 1615 Pacific daylight time, a Cessna 182H, N2030X, was substantially damaged when it was involved in an accident near Blakely Island, Washington. The pilot and passenger sustained minor injuries. The airplane was operated as a Title 14 Code of Federal Regulations Part 91 personal flight. The pilot reported that, on the day of the accident flight, he conducted a preflight inspection of the airplane and drained fuel from each of the wing fuel sumps that appeared blue in color and clear of debris. Shortly after departing from runway 1 at Blakley Island Airport (38WA), he made a right turn and paralleled the eastern shoreline of the island. During climb out, he set the engine power settings to 22” manifold pressure and 2,300 RPM. While over the waters of the Rosario Strait, at an altitude of about 700 ft above ground level, the engine sputtered once followed by a complete loss of power. The pilot initiated a forced landing to the water near the shoreline. During the landing, the airplane nosed over and became submerged in about 50 ft of salt water. The pilot further reported that, the airplane had been refueled on February 27, 2021, in Anacortes, Washington and had been flown for about 2 hours before to the accident. The airplane was relocated to Skagit Regional Airport (KBVS), Burlington/Mount Vernon, Washington for the annual inspection. The airplane was kept out of weather until the day before the accident flight, where it was relocated and positioned on the ramp at 38WA. Both days were sunny, warm and dry. Postaccident examination of the recovered airframe and engine revealed that both wings were substantially damaged. The recovery personnel had drained the fuel from both fuel tanks and moved the fuel selector lever from both to the off position. Visual inspection of the left and right fuel caps revealed that both fuel caps rubber seals appeared worn. Corrosion was observed on the left and right fuel filler port. The left- and right-wing fuel tanks exhibited wrinkles along the bottom of the fuel tank bladders. Throttle, carburetor heat and mixture control continuity were established from the cockpit controls to the carburetor and all levers moved from stop to stop when actuated by hand. The engine’s crankshaft was rotated by hand, and continuity was established throughout the engine and valve train. Examination of the cylinders with a lighted borescope revealed no anomalies. A small amount of water and fuel was present throughout the fuel system, carburetor, and gascolator. Debris and corrosion within the fuel system consistent with submersion in salt water was observed. Subsequent examination of the magnetos revealed that significant corrosion was present in both magnetos. The corrosion prevented a functional check of the magnetos. Examination of the recovered airframe and engine did not reveal evidence of any mechanical anomalies that would have precluded normal operation.