Another NFA Question For Those Knowledgable About Trusts

[billyblazes]

I have a boilerplate NFA trust I purchased from an online attorney in 2015.  Once ATF Rule 41F went into effect, I made no more purchases of NFA items under the trust but rather acquired NFA items as an individual via Form 4 or Form 1.  On the trust I am the only one listed as Settlor.  I have no trustees/responsible persons listed.  I do list a successor trustee and beneficiary in the event of my death.  My understanding is that only someone listed as current settlor or current trustee must submit pics, fingerprints and 4473 when application is made for a new NFA item under the trust.  Am I tracking correctly so far?

 

I have read the opinions from a couple of different attorneys which I understand to say that after my NFA application has been approved I can add a new trustee by way of amendment to the trust without any need to submit the new trustee's information to ATF.  That newly added trustee can now legally access the NFA items owned by the trust.  Is this correct?

 

I further read that if I make a new NFA application I can first remove all trustees by way of another new amendment, get the NFA application approved with just myself on it, and then create yet another new amendment to reinstate trustees who have previously been removed.  Those listed on the most recent amendment are now legal in the eyes of the law to access the NFA trust items.  Do I have a correct understanding of what I have read?

 

I realize this would have no bearing on the NFA items I have acquired as an individual, but it does provide options for the items in my trust.  Or am I all wet?

[Capbyrd]

Correct. 
 

Correct. 
 

Correct.  But I wouldn’t personally do that or advertise on the internet that I am even thinking of doing that.  But you ain’t wrong.