Tell me about a NFA Trust?

My FFL dealer just told me not to get a typical trust but an NFA Trust. He said it was a different from trusts most make. He gave me an attorney that sets them up. Are there questions i should ask the attorney to see if it's just some typical trust? I plan on making a short barrelled 300 blk with a can on it.

Thanks.

An "NFA" Trust is a standard trust. Usually they just have a few more words describing use to be allowed with the national firearms laws.

Ask in your hometown forums for recommendations on lawyers in your area.

You are in Texas, so you are in Luck. There are a couple members here, who are attorneys. Member : bigcbass does them for $300


Christopher Bass, Esq.
Law Office of Christopher M. Bass
Dallas Co., Texas
214-596-8314
christopherbass01@gmail.com

Home of the $300 Texas Gun Trust!

Not sure what the other one charges..... Member: SC-Texas

Sean Cody

http://www.texasnfatrust.com/


A trust is a trust, period. Some people think you need whiz bang legal mumbo jumbo NFA this, GCA that language. You do not. If your trust is valid in your state, then you are good to do.

The only thing I added in mine was under the distribution catergory, something worded like "if my beneficiary was unwilling, unable to, or prohibited from receiving certain controlled trust property items, said items shall be sold or destroyed according to state and federal law.

Give me a call, I would be happy to help you out. My trust are tailored for NFA ownership.

Wish you had an office in Indiana too

Your rate is reasonable. I'm not gonna go pay $600 for a simple trust. I don't have several different properties, stocks, bonds etc. Just want the basics.

I'm gonna roll the dice and try the "roll my own" method, and hope by adding the verbage i said earlier, is enough to satisfy the ATF.

Give me a call, I'll be happy to discuss the trust with you.

While on the topic of trusts, I just want to make sure i have included all the right things.

I have:

-Cover sheet
-2 copies of form 1
-2 copies of the Compliance form
-Declaration of trust with a copy of the notarized page
-Certification of trust with a copy of the notarized page
-Assignment of property with my NFA item listed
-schedule A with my NFA item listed
- $200 check

Anything missing or not needed?

I don't think you need a certification of trust to go along with the declaration. It's redundant since the certification is just a shorthand summary that leaves out sensitive things like property assignments.

Ah alright. Thanks man!

Sean or Chris, are either of you able to set up NFA trusts in New Mexico?

Since the trust cannot take possession of the NFA item until your form 1 is approved, I don't believe you can have that in your Schedule A. Schedule A would only list the property in the trust at the time of its inception, e.g. grantor contributions. The only thing that will be on my schedule A when my trust is sent in is the money I have contributed to the trust (which will be residing in a bank account owned by the trust from which I will cut the check to BATFE). Once your form 1 is approved, you amend Schedule A to include the added trust property. Someone correct me if I'm wrong, but I don't think I am.

call this dude right here.

This is what I plan on sending in. The ATF forms in duplicate, the declaration of trust, & the schedule A.

Certifications of Trust or Summary of Trusts are usually what are given to banks when the trust wishes to establish an account. It provides the bank with, as you say, just the basic information needed to establish an account. It is not necessary to provide the entire trust document to the bank. It is none of the bank's business to know what your trust is about or what is contained in it.

I guess i meant it more as "the soon (or not so soon) to be NFA item." It seemed like it was a good idea to show ownership of the lower receiver in the trust. When i get the form 1 back i'll amend it to say "blah blah blah 10.5" SBR serial # xxxx"

So a Certification of Compliance with 18 U.S.C. 922(g)(5)(b), (5330.20) is no longer required? I was about to ask whether or not my wife and I (both Grantors and Trustees) both need to file a Certification of Compliance.

Also, given that I fully expect the bureaucrats to have my application for one year or more before approval (delays are increasing rapidly) and I also expect to move within six to twelve months to another silencer-friendly state, what must I do to not suffer additional delays and ensure that my stamp is sent to my new address (address unknown at this point)?

Hopefully, I will get my permission slip before I die. ;) At any rate, approval times are often taking a significant portion of many citizens' remaining lifetimes to obtain!

Thanks for the help!

One of the other threads about this topic brought up trusts not needing to send in Certification of compliance, and linked to the ATF bulleting about it....

However, I don't think it would hurt anything by sending one in anyway.

Thanks, Chesh97! Found it on page 5, here, under

TRANSFER OF A NATIONAL FIREARMS ACT
FIREARM TO A CORPORATION OR
OTHER LEGAL ENTITY
http://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&ved=0CDIQFjAB&url=http%3A%2F%2Fwww.atf.gov%2Fpublications%2Fnewsletters%2Fffl%2Fffl-newsletter-2008-11.pdf&ei=XeEqT-7EKdDaiQLCtNGsCg&usg=AFQjCNGyem6t72pw7ryX5tWrO6EYs4vVNA

Sure enough; it says it's not required––at least for a Form 4 (and presumably, a Form 1 too). The doc is dated Nov., 2008 and the ATF changes its mind a lot so I guess there's no harm in including it anyway.

I always submit the Cert of just to be safe.

And sorry...can't do them in New Mexico, not licensed there.

If he is doing a form 1 he is building it. In the case of building a sbr using an existing gun the existing gun should be listed in the trust. At very least the Trust in many if not most areas needs property in it to be valid. A lot of people list a few bucks showing the trust owns something.

How about Colorado, for either of the lawyers?

Chesh97

last time i sent in Declaration of Trust, they returned it to me.
asking for full copy of trust

so i just send in full copy of trust each time now

ymmv

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