NFA Trusts

[Gregolian]

So, I'm thinking about doing the paperwork to set on up and I have a question.

I know it is (plain English) essentially setting up a "company" that purchases all the NFA items and only select people you choose can be members of the trust and you can (for now) will the trust to people if you were to pass away.

THAT said, I ALSO know if you don't have a trust and buy say a suppressor or SBR that thing is tied to your address and you have to tell the ATF when you move so they can update the address for those items. I am moving beginning of August (staying in the same county so it's not far) but I was wondering, with an NFA Trust is it still that way? Or is the address "meaningless" essentially?


Also, are there any storage requirements?

 

[Gregolian]

Welp, I filled out the forms and filed them. Here goes nothing.

@spamking will finally be happy with me doing this I bet.

 

[Stoic1]

I can help you with any questions you have. I have at least 14 stamps. But you need to act fast. July is almost here.

So you have executors and trustees who can be in possession of your ATF items. They are assigned to the address in your state you originally purchase the item. When you move you file a form 5220.20 for EACH item and you can move them across states into that new residence. That form can be temporary (up to a year) or permanent.

The state the trust is created only matters for those initially purchases you make. Once you move you file that 5220.20 and move to your new state. Once you arrive in that new state you can buy any new NFA items with the original trust and you do not need to change the address of the trust. For example I live in Vermont and the Trust was created in Georgia. I have moved across 4 states and bought NFA items in all of them on the same trust.

BE WARNED: A major advantage of a trust is going to be lost mid-July.

 

[Gregolian]

I can help you with any questions you have. I have at least 14 stamps. But you need to act fast. July is almost here.

So you have executors and trustees who can be in possession of your ATF items. They are assigned to the address in your state you originally purchase the item. When you move you file a form 5220.20 for EACH item and you can move them across states into that new residence. That form can be temporary (up to a year) or permanent.

The state the trust is created only matters for those initially purchases you make. Once you move you file that 5220.20 and move to your new state. Once you arrive in that new state you can buy any new NFA items with the original trust and you do not need to change the address of the trust. For example I live in Vermont and the Trust was created in Georgia. I have moved across 4 states and bought NFA items in all of them on the same trust.

BE WARNED: A major advantage of a trust is going to be lost mid-July.

I heard/read that if you filed FOR a trust (not necessarily have one) you will get to keep the benefits of the trust prior to like July 14.

So for me, since I am just moving within the County say I get approved for my trust in the next day or two, I won't be moving till August maybe hold off on getting any NFA stuff until after the move to avoid the need for all the forms?

Where I got my info:
http://199trust.com/41f/

 

[Cubo de Sangre]

If you're moving within the county I don't believe any notification need be given to the feds. I don't believe there are any special storage requirements.

I'm confused about what you mean regarding filing for a trust prior to July 14. Are you saying that if the trust is established prior to that date then the new rules don't come into play? I would think you'd need to have applied for the tax stamp for that to be the case.

 

[Gregolian]

If you're moving within the county I don't believe any notification need be given to the feds. I don't believe there are any special storage requirements.

I'm confused about what you mean regarding filing for a trust prior to July 14. Are you saying that if the trust is established prior to that date then the new rules don't come into play? I would think you'd need to have applied for the tax stamp for that to be the case.

Per what I read:

• 41F is set to kick in July 13, 2016.
• All applications ‘Pending’ (submitted) before then WILL NOT be affected by the rule change as it will not be retroactive.

I guess it does apply to the actual tax stamp. Oh well. Still, I'll finally have taken the step of getting a trust set up.

 

[Cubo de Sangre]

Per what I read:
I guess it does apply to the actual tax stamp. Oh well. Still, I'll finally have taken the step of getting a trust set up.

The trust is easy. I used Quicken Willmaker. List "NFA Items" under the section of assets contributed. Get it notarized.

What are you buying again?

 

[Gregolian]

The trust is easy. I used Quicken Willmaker. List "NFA Items" under the section of assets contributed. Get it notarized.

What are you buying again?

Nothing yet. I would LIKE to get a suppressor for my Para 1911 as it has a threaded barrel and suppressor sights on it already.

Maybe down the road someday a 14" .300 Blackout will finally be something I could pursue.

 

[Cubo de Sangre]

Well shit man, there's been attempts to get legislation off the ground that would remove suppressors from the NFA. Now wouldn't that be nice?!? I wouldn't hold my breath though.

 

[Gregolian]

Well shit man, there's been attempts to get legislation off the ground that would remove suppressors from the NFA. Now wouldn't that be nice?!? I wouldn't hold my breath though.

Yeah I wouldn't either. I do like how they framed it though as the "hearing loss prevention act" or some such thing.

 

[Stoic1]

You waited too long.

 

[Gregolian]

You waited too long.

FUCK

 

[spamking]

I toldja man . . . shoulda pulled tha trigger sooner . . . @Gregolian