Flight Crew Instrument; Flight Crew Air Transport Pilot (ATP); Flight Crew Multiengine
Situational Awareness
Deviation - Altitude Excursion From Assigned Altitude; Deviation / Discrepancy - Procedural Clearance; Deviation / Discrepancy - Procedural Published Material / Policy; Inflight Event / Encounter CFTT / CFIT
Air Traffic Control Provided Assistance; Air Traffic Control Issued Advisory / Alert; Flight Crew Returned To Clearance
Human Factors
We were flying on the ILS Runway XXR into ZZZ. We were between waypoints ZZZZZ and ZZZZ1. I was completing the Before Landing Checklist when ATC alerted us to our altitude being 500 ft. below the FAF altitude of 2500 ft. I advised ATC that we were recovering to 2500 ft. and we climbed back to 2500 ft. There was no negative impact on the flight. I suggest a more vigilant situational awareness and adherence to SOP calls.
While conducting an ILS approach to Runway XXR at ZZZ; a brief loss of situational awareness occurred and the aircraft descended below the intercept altitude of 2500. It is imperative that the crew must be vigilant at critical times of the flight. The Flying Pilot must have a clear understanding of all ATC instructions.
Air taxi flight crew reported descending below glide slope intercept altitude due to loss of situational awareness.