On March 11, 2023, about 1331 eastern standard time, an experimental amateur-built Velocity SE RG, N343BD, was substantially damaged during a ditching in Florida Bay, near Bahia Key, Florida. The pilot was seriously injured. The airplane was operated as a Title 14 Code of Federal Regulations Part 91 personal flight. The pilot, who owned the airplane, reported that he was en route from Florida Keys Marathon International Airport (MTH), Marathon, Florida, to his home airport, Summerland Key Cover Airport (FD51), Summerland Key, Florida, which was about a 15-minute flight. Since he had not flown in several months, he veered north of course to practice the slow speed descent and power settings that he would be using during approach to FD51. He slowed the airplane and reduced power, “when the engine suddenly, and without warning, quit.” He immediately turned on the electric fuel pump, which brought a momentary “burp” of power. The “burp” was less than 1 second and he observed a low fuel pressure warning (0 to -1). At that point he turned north and ditched the airplane in Florida Bay, near the shore of an island. The pilot stated that he had not flown the airplane in 2 to 3 months as he was performing the annual condition inspection. The inspection took longer than normal because he and his wife had taken an “RV” trip during the inspection. The pilot performed the inspection himself and did not work on the fuel system, other than moving the fuel shutoff valve to off to clean the filters; however, he stated that he moved the valve back to on as he flew uneventfully from FD51 to MTH about 3 hours before the accident. The pilot further stated that the “sump tank” center fuel tank held 2 gallons of fuel, and a red light would illuminate in the cockpit if the fuel level was low. He departed on the accident flight with 19 gallons of fuel (22 gallons of fuel from FD51 on the prior flight) and the red (low fuel) light never illuminated. The wreckage was examined by two Federal Aviation Administration inspectors during recovery and after it was transported back to FD51. They observed fuel, mixed with sea water in both wing tanks and the center tank; however, the fuel injector lines, and fuel manifold were absent of fuel. The mechanical fuel pump contained slightly more than 1 ounce of fuel. Residual fuel was also found in the electric boost pump. The mechanical fuel pump was removed and it operated normally when actuated by hand. The electric boost pump switch was in the on position and when the electric boost bump was tested with a 12-volt battery it operated normally. The top spark plugs were removed and no anomalies were noted with their electrodes. When the propeller was rotated by hand, crankshaft, camshaft, and valvetrain continuity were confirmed to the rear accessory section of the engine. Additionally, thumb compression was attained on all cylinders. The engine was equipped with an electronic ignition system that could not be tested. A Grand Rapids Technology 6000 Engine Information System (EIS) was retained and forwarded to the National Transportation Safety Board Vehicle Recorders Laboratory, Washington, DC. Data were extracted from the unit; however, the EIS did not record any parameters relevant to engine performance.