ATF 41F and You....

[Tejano Scott]

Are you having trust done by attorney? If so, I'd consult him. I still believe the NFA Trust is the best method to own NFA items even after 41f goes into effect tomorrow. It allows for multiple people to possess the item and plans an organized inheritance succession plan. It did become easier to buy as an individual, but that won't matter if you want someone else to be able to legally possess the item you buy.

 

[Tejano Scott]

Here's a link to helpful article and video by Prince Law Firm

https://blog.princelaw.com/2016/07/08/atf-releases-atf-41f-faq/

 

[locke_n_load]

Can someone fill me in on all this? I am having a trust done, but really don't understand all of this right now.

Trust no longer needed?

Individuals can now buy NFA items without having the local sherriff sign off?

New rules?

This is some confusing stuff.

Links to threads explaining it all would be appreciated.

Dude, you are a day late and a dollar short to the NFA game.

In the past, people made trusts because to file for an NFA item because as an individual, you needed CLEO signoff, and there was no requirement for law enforcement to sign off, and most would refuse. As business entity, trusts did not need this signoff. Now, 41F goes into effect tomorrow, removing the requirement for CLEO signoff for everyone, just a notification that you are getting an item approved, but with it, all trusts will need all responsible persons on it to submit passport photos/fingerprints and fill out a questionaire.

Get a trust with you and your significant other on it for now, get your prints/photos done for the two of you, get most of your items you want, then amend your trust to add other family members/kids/beneficiaries.

 

[Tejano Scott]

Dude, you are a day late and a dollar short to the NFA game.

The NFA game still has plenty of days and dollars left. But his timing might actually help so he can properly structure his trust as you suggest.

 

[Tejano Scott]

OMG! SilencerShop's post. 1200 pounds

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[Tejano Scott]

I just threw up thinking about wait times.


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[Texas42]

I just threw up thinking about wait times.


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Im with you there. Wish I'd done this sooner. Oh well. I guess I'll wait a while for my first.

 

[baboon]

I just threw up thinking about wait times.


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I read somewhere it will be a year!

 

[Tejano Scott]

At least. That load of Form 4's from SS was over $2 million in tax stamps alone. I am stunned.


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[35Remington]

At least. That load of Form 4's from SS was over $2 million in tax stamps alone. I am stunned.


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Here's to hoping they bought insurance on those packages!

 

[Tejano Scott]

Haha, so true. I read this was the largest single dealer submission of Form 4s in the History of the NFA.

 

[locke_n_load]

The NFA game still has plenty of days and dollars left. But his timing might actually help so he can properly structure his trust as you suggest.

I should have said "a day late and a dollar short for easy NFA submissions". The days before needing prints/photos/questionaires for everybody. But I would definitely still go the trust route so you can just keep amending it, then hand over grantor/settlor rights to your offspring before you clock out.

 

[deemus]

Here's a link to helpful article and video by Prince Law Firm

https://blog.princelaw.com/2016/07/08/atf-releases-atf-41f-faq/

Gracias!

 

[Tejano Scott]

I'm sure some folks today are all like:

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[locke_n_load]

Ha. Yesterday they were singing it for their wallets!

 

[Tejano Scott]

7/12/2016. The day my wallet died.


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[Charlie]

7/12/2016. The day my wallet died.


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Give it the honor burial!

 

[Shady]

It would depend on how many items you plan to own. What kind of items you plan to own. Do you want others to play with your toys when you are not with them. Do you have a wife and kids. Do you care what happens to your toys when you die ?

Can someone fill me in on all this? I am having a trust done, but really don't understand all of this right now.

Trust no longer needed?

Individuals can now buy NFA items without having the local sherriff sign off?

New rules?

This is some confusing stuff.

Links to threads explaining it all would be appreciated.

 

[Tejano Scott]

Another good informational link-

https://nlolegal.wordpress.com/2016...ule-why-gun-trusts-are-still-the-best-option/

 

[HKShooter65]

Seriously? Tell me you are being sarcastic!



How does forcing background checks on everyone, and fingerprints and photographs on the vast majority of people who buy the stuff make it better for anyone?

Sean:
Your observations are fair and you are correct.

I never said "better".
A year or two ago it looked potentially ominously worse.

All my form 1's and 4's from years ago and the licensure of my profession .....they have my prints and photos in myriad computers.

I can get a billion hits on a google search in 0.01 seconds so I've never understood the months of waits to begin with. The ATF can check any one of us in less time that I can get the billion google hits.

I don't want to give an angstrom of my 2ndA rights away either.
As one who got fingerprinted for pre-86 form 1s and shook hands with CLEOs in 4 jurisdictions to beg signatures I saw the tightening of the trust loophole from it's early days.
I view it with distain but knew it's inevitability.

Like many, however, I breathed a sigh of relief at the benign, albeit annoying, changes in NFA transfer rules. I feared far worse whilst they were being formulated. Witness the doom and gloom prophesy on these forums from not too long ago.


I've more that I need at the moment, though I have not thought for a second that I'll cease aquiring.

I'll let the buying frenzy pass and in, maybe September, I'll register another SBR or buy another suppressor or three and hope the wait gets truncated a bit. I'm the perpetual optimist.


HKS