First the gun is owned by a corporation,
seller is local to me about 30 minutes away.
What all do I need in order to do the Form 4, anything special being that it’s a corporation and not an individual? Do I get a Bill of sale to prove it’s mine till the form comes back?

A bill of sale/contract is a good idea for any large purchase like that. As far as the form 4, no you don't have to do anything special. Just make sure the name of the corp in box 3a on your form 4 matches box 2a on the existing form 4 and you shouldn't have any issues.

Thank you

I have always used a sales contract when purchasing a machinegun from an individual.

Given the length of time that transfers take and the pitfalls I have personally gone through, its in your best interest to make sure you have a clear transfer of ownership form between you and the seller should something happen to either of you during the 6 months to 1 year transfers generally take.

Its also good to clearly outline who is responsible for what and the expectations each party has as part of the sale.

I usually outline the following aspects in my NFA sales contract based on my ~20 years of buying machineguns.

- Buyer and Sellers Name (plus City/State locations)
- The item that is being purchased: make, model, serial, condition, transfer status (i.e. transferable to a civilian), and included accessories (uppers, barrels, mags, parts, etc.)
- The seller has physical possession of the firearm and the legal authority to sell the firearm.  (especially from a corp or trust)
- Who is responsible for paying the transfer tax.  
- Who is responsible for submitting the paperwork to the NFA branch and the time frame the paperwork must be mailed/submitted.  
- The firearm will not be removed from the current registrant address, will be stored securely, and will not be shot for the duration of the transfer time period.  (without prior approval from the buyer)
- Time frame that the buyer or seller must notify the other party if a correction letter is received and the time frame that the correction letter must be responded to.
- Time frame that the seller must physically transfer the firearm to the buyer once an approved Form 4 is received by the buyer or seller and the physical transfer location.
- If any shipping is involved, how the firearm and/or accessories should be packaged, carrier used, insurance, and who pays for the shipping cost.

Sellers over the years have asked to add  that the gun is being sold "as-is" with "no warranty" as well as a "no-refund" clause should the buyer fail the NFA background check or be unable to take possession of the firearm for personal reasons (divorce, job loss, move to a restrictive locale, etc).

Good luck and enjoy your gun.

Is the MG all the corp owns?

Not sure?

Thank you for that, really lends some good points to bring up in the Bill of sale/Contract.

I have heard that it's possible to just buy the corp and take ownership of the corporate assets immediately.    If that's all the corp owns it might be worth checking on.  I'm sure someone here will say if that's legit or not.

That's a interesting thought, could I form a corp and tranfer a supressor to it and sell both.  Get my idea?