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[bud]

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Edited June 18, 2016 by bud

[Hozzie]

As I understand it, it will now require Head Law Enforcement Sign Off and Fingerprints submitted for everyone on the trust.

[bud]

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Edited June 18, 2016 by bud

[Obiwan]

Facts: http://www.nfafa.org/atf41p.cfm

http://blog.silencershop.com/overview-of-atf-41p/

Straight from the horses mouth: https://www.atf.gov/file/100896/download

 

Note that there may still be misconceptions regarding the new ruling. For example, this link (NFA Layers) states that co-trustees do not have to submit prints/pics. The way I read it, as long as they have the power to posses an NFA item (regardless if have no other powers, rights or responsibilities in a trust), they need to submit prints. Unless you consult a lawyer and receive information to the contrary, I would err on the side of caution and have every co-trustee (anyone that can use/posses your NFA items) submit their prints/cards. Beneficiaries are expressly excluded though.

Edited May 27, 2016 by Obiwan

[Jct1911]

For trusts: prints and photos for every responsible party for every application. New trust documents only if 2yrs has passed since last approval. 

Individual: no more Cleo sign off, only notification

 

 

I will not be doing anymore Form 1's after implementation. Pretty much got everything I want filed already. My Trust will have 14 NFA items when said and done .

[tmauto769]

Same here, got mine all sent in, and that will be it for me. 

[bud]

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Edited June 18, 2016 by bud

[Jct1911]

If you have had an approval in last 24months, and nothing has changed, you don't have to send new trust documents. I would send them anyway if I were still going through the hassle with pics and prints. 

Edited May 27, 2016 by Jct1911

[bud]

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Edited June 18, 2016 by bud

[Jct1911]

The trust isn't the issue. The photographs and fingerprints are. Currently, my items are owned by an entity, not an identity. My other trustees have no desire(currently) to own or possess the trust items, but they can if needs be or they want. None of them are "on file" for my hobby, nor will they be in the future. Same with my beneficiaries in the future, my kids are not sending in fingerprints and photos to own these items when the time comes. 

Everybody keeps saying 41f isnt that bad. I think it's terrible. This is how we lose, in small steps. 

[Mindless-Focus]

Here's what I know:

•CLEO must be notified (no sign off tho)

•Must have fingerprints on file of trustee and co-trustees and all responsible parties 

•all Trust parties as above should have 2x2 photo sent in

•will not have to repeat the above if you have an approval within 24 months

I have a can on Form 3 now. Waiting for approval to do Form 4. This will be my last NFA item. The members on my trust have no desire to go through the fingerprints or photo part. In honesty, it'd be easier to herd cats. 

[bud]

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Edited June 18, 2016 by bud

[Mindless-Focus]

Could you not buy it as an individual and then put it on your trust or would that need a Form 4?

[drewski]

depends on your reason for the trust, and need to pay more tax stamps for the trust-trust transfer.  Mine is to make sure the family isn't committing a felony when they grab the NFA item to defend the home, or otherwise access the safe in my absence, or death.  I've read and re-read the current and impending rules until my eyes bled, and haven't found any way to protect the family if those situations occur, without a trust.  

 

[bud]

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Edited June 18, 2016 by bud

[Jct1911]

Inheritance items are a non-tax transfer. A single person trust is the same as an individual under new rules. Best to name a beneficiary other than yourself, they are not a responsible person and can not be in possession until written in as trustee. 

Ill file as an individual from here on out. Everything I've got is Form 1 stuff anyway, and the trust was easiest way to file when this began via e-file. 

[John Wells]

The short version of what we know so far:

If anyone on your trust has the right to be in possession of your trust property, they are "responsible persons" under the new rule and will have to submit fingerprint cards and photos for all stamps filed for after the 13th of July.

If you have other questions, feel free to contact me directly. I will be filing for a SBR on the 14th so I can report back on the process to everyone.

Sent from my iPhone using Tapatalk

[bud]

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Edited June 18, 2016 by bud