You can, but either one still requires a responsible persons form for all involved using it.
Because a Corp is usually a defined entity for its real purpose it i hard to add subtract folks like you can on a Trust.
You can, but either one still requires a responsible persons form for all involved using it.
Because a Corp is usually a defined entity for its real purpose it i hard to add subtract folks like you can on a Trust.
Yup, he's crazy...
like a fox. The dude may be coming in a little too hard and crazy but 90% of everything he says is correct.
Sort of like Toof. But way smarter.
~Scatter Shot
Silent,
I have heard that it is possible to set up a single member trust, convey NFA items to it and then later add other members and avoid them having to get fingerprinted, etc. Is that true?
Yes it is, and what I was eluding too with why a corp isn't a great idea.
Yup, he's crazy...
like a fox. The dude may be coming in a little too hard and crazy but 90% of everything he says is correct.
Sort of like Toof. But way smarter.
~Scatter Shot
I have a single member LLC for rental properties and I was just looking into this.
I need to learn more about the pros and cons myself
I think the trend for some folks has been a separate trust for each item. That gives you the most flexibility. A trust can be created for free.
I can't think of any good reason to bind your NFA items to a business LLC. If a tenant sues your LLC, your NFA items are susceptible to being attached to the settlement.
This.
or
Create one trust for NFA purposes. Take all parties off but one responsible party each time you file a new item. As soon as you have filed put everyone back on.
They just want to make sure all items are tied to some one and that someone isn't a felon. If that 1 person lets felon use the NFA stuff then they are liable.
They went and changed 41f, and then reinterpreted their own rule.
Apparently the change was just for that one reason.
Because technically a felon could be a trustee on a trust and could obtain machine guns and suppressors. Now if the responsible party allows the felon to posses the items they are on the hook.
Originally under 41f everyone on the trust had to get finger printed and photos sent in for a background check.
Then the ATF came back and said but its ok if you drop everyone from the trust except one person, and then add them back....
Why they are creating the trust for each item is really to circumvent a notary.
As long as you have it written in to the the trust that the beneficiaries have instant access to the inventory as soon as they are added, and the Trustee named has the power to add or subtract beneficiaries at will. All you need then is to be motorized. It really comes down to how you write the trust.
The only issue I have with 20 different Trusts is yo have to keep up with 20 different trusts.
What if suppressors become like MG's? I know the push is to take them off the NFA list, but currently they are not off the list. So what happens if they go the other way? Then you will have a nightmare tracking down all the trust papers to sell a item. Or God forbid the item be used in a crime. You are gonna have enough on your hands other than trying to track down a single trust you did in 2019 and it is 2029.
Its too simple to have one written to allow for folks to be taken on and off and then you just have one document.
Yup, he's crazy...
like a fox. The dude may be coming in a little too hard and crazy but 90% of everything he says is correct.
Sort of like Toof. But way smarter.
~Scatter Shot
First time suppressor buyer here so forgive the dumb question. I went thru a silencerco kiosk at a LGS, did the fingerprints, picture, filled out the form. LGS ordered my suppressor, it arrived last week, LGS finished the paperwork, I got my copy in docusign, docusigned it and it says all is complete. But while looking at the form it says the transferee must make notification to Alan Wilson? See image, am I supposed to do this or what? LGS said they didnt know what I was talking about when I called them and asked
Last edited by Frank1; 10-25-2019 at 01:10 PM.
This is my initial submission to atf, who knows how long approval will take. I just don't know if I am supposed to mail this to Alan Wilsons office or not.
What?
What what? See the image, am I supposed to mail this crap or not? That's all I'm asking
Last edited by Frank1; 10-25-2019 at 08:03 PM.
When he said “it arrived last week”, I think he’s referring to the dealer receiving it from the supplier. He will still have to wait on the ATF jail.
We have seen some come back in 4 months and some 10-12 months. No rhyme or reason we can figure out.
The 4 month ones are a few of the latest submitted and were individual. I just sent one off last week as a trust, so we’ll see.....
To answer your question, I don’t think you do anything. I think that’s just the standard lingo on the form. If anything has to be sent your dealer would do it. Maybe I should have paid more attention to my paperwork, I just had my wife fill it all out while I was fingerprinting my daughters.
Thanks, yes suppressor arrived at LGS last week, atf paperwork was just signed and sent out, now the wait begins
Just spoke with my dealer, he says that he always sends a copy of the form4 to the local agency. You should’ve have to do anything.
Thanks, ur not such a dick after all.
I've never had to do any more than the paperwork with the dealer. I never sent anything to my local LEO or to ATF for than matter. I would assume that the dealer sends it but I was hesitant to reply because my assumption and website post won't keep you out of jail if I'm wrong.
like I should have done to start with I called Silencerco (since I did the application thru thier kiosk) and they said they send it to the local authorities as part of the application process. Just an FYI for anyone else wondeing about it. Thanks guys
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