I am going to SBR one of my lowers and I am looking for a Form 1 SBR how to guide for a trust. I found some but they are from a while ago, when the photo prints were not required. Any links to a good how to site would be appreciated.
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I am going to SBR one of my lowers and I am looking for a Form 1 SBR how to guide for a trust. I found some but they are from a while ago, when the photo prints were not required. Any links to a good how to site would be appreciated.
Are you going the trust route for a spsific reason? With the reworking of things that went down a while ago its no longer easier to do the trust as apposed to filing as an individual. Im also skeptical of these "instant trusts" that companies offer. Id get a real live meat and bones trust lawyer to write one up for you if thats the road you really want to go down.
There are still tremendous advantages to the trust route. Simplest; your significant other can be a trustee, and thus legally possess any/all of the trust assets (i.e., have the ability to open the safe). If you go the individual route, it is you and you alone who may be in possession of the assets.
This is very true. I have actually been contemplating having a trust drawn up and having my nfa items moved to the trust. Biggest reason being my wife and daughter being able to have my stuff if I "buy the farm" at it were.Quote:
Originally Posted by OlongJohnson
Even if not, they can’t use the stuff without you physically present so if you have an SBR and/or can for the house gun, there is a potential problem waiting to happen.Quote:
Originally Posted by snow white
OP, I can’t help with the how-to guide but if you want the easiest route and don’t mind paying a bit extra and waiting a little bit longer, Capitol Armory has a Form 1 service that I used for mine. I think it was about $65 and they either did everything or gave me specific details on the stuff I had to do.
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My trust was written by a trust lawyer. I have a couple of items on it already, I just haven't gone down the form 1 route yet.
I'll be doing one in a few weeks and actually watched this this morning. I've done paper versions before, but haven't done the e-file process before.
https://youtu.be/colyR1Gjv1I
If you transfer your items from individual to a trust you will need to pay the $200 transfer tax on each item. If you die you wife can have them transferred to her without a tax on a form 5.Quote:
Originally Posted by snow white
I was aware of needing to pay the 200 again but not the form 5. Screw it then..she can do the damn paperwork.Quote:
Originally Posted by 5pins
Last year when I was getting my lowers engraved the guy in front of me was trying to add another suppressor to his trust and was surprised to learn the six or so people he had listed had to provide fingerprints, etc. for each new item added.
I did mine as an individual. If going the trust route and there's the chance you might want to add a bunch of stuff as time goes on then you might also want to have everyone get their prints done by a digital service like identigo and order a bunch of the finished cards all at once. The more people on the trust, the longer that could delay the process while you're herding cats to get everyone printed (again). Especially if you've got a bunch of family members that aren't really gun people listed.
Adding and removing trustees is as simple as signing and notarizing a form.Quote:
Originally Posted by jh9
The lowers in the post you quoted are my first NFA items, so I'm still new to this. What do you think was going on with having all the people on his trust needing to provide fingerprints and pictures then?Quote:
Originally Posted by littlejerry
Or are you saying you can remove everybody from the trust, add new items, then add everyone back without having to provide prints/photos?
I am not a lawyer and I'm not giving legal advice. I have been counseled that only the people on the trust during the application and review process are subject to the application and review. Anyone added after an item has been approved is not subject to the application and review.Quote:
Originally Posted by jh9
Draw your own conclusions and consult with your attorney.
In 2016 the ATF started requiring all responsible people, on the trust, to provide fingerprints, photos, and the responsible person form.Quote:
Originally Posted by jh9
https://www.nationalguntrusts.com/pa...questions-faqsQuote:
Before the ATF 41F regulations were enacted on July 13th, 2016, citizens were allowed to purchase NFA firearms with a gun trust like today, but the responsible persons in the trust were not required to send in fingerprint cards and photo cards. After the ATF 41F laws were enacted all citizens who are applying for NFA firearms with or without a NFA Gun Trust are required to send in photo cards, fingerprint cards and the responsible persons form. NOTE: All responsible parties of a NFA Gun Trust are required to send in photo cards, fingerprint cards and the responsible persons questionnaire.
My wife is a member of my LLC that holds all of my NFA stuff. I have a stack of her fingerprint cards. She would only consent to 5 sets so she knows that I can only buy 5 NFA items at most. If decide to go the individual route without telling her, the police will already have my fingerprints to identify me when my body is found.
Form 1 Efile for SBR submitted 03/23/2021
Approved 04/25/2021
:o