The pilot reported that, after takeoff, about 500 ft above the ground he retracted the landing gear and shortly thereafter, the engine sputtered and lost power. He adjusted the fuel mixture, but it did not have any effect. He attempted to return to the airport but noticed he would not make the runway and decided to land in a dirt field near the airport with the landing gear retracted. He recalled having refueled the airplane about a week prior.

The pilot further reported that as a safety recommendation to "Always top off fuel."

The airplane sustained substantial damage to the fuselage.

The Federal Aviation Administration inspector who examined the airplane reported that, upon sumping the center tank and both wing tanks, he was only able to obtain about a cup or two of fuel out of the system. He further checked the fuel gauge; there was only one gauge for the fuel with a single switch which has left, right, and center positions. In the left position, it showed empty, in the center position, which showed total fuel, it read 900 lbs. and on the right position, it also showed 900 lbs.

He further added that the mechanic that assisted with the recovery, said there was no fuel leaks and there were no signs of fuel on the ground. He also stated that they did not remove any fuel from the aircraft.