I have friend that is giving / selling me his suppressor.

Everything will be done in state.

He is NOT a ffl.
The suppressor is owned by his company a INC

That means, we will use a forum 4 right?

It will be going to me a individual, neither one of us are on trusts

1) When I send in the forum 4 do I need to send in a copy, of the 4 forum that he originally purchased it on?
2) Do I need to send in a bill of sale?
3) Do I still need a  CLEO signature? (it has been awhile, and I know somethings have change )
4) When filling out the forum 4 do I use the exact same wording as on the original Example: On the original form_4, he called it a Silencer, and normally I would call it suppressor.

5) It is a AAC.  I look on there website, it has there address in Huntsville, AL
On the original, it has them in Lawrenceville, GA
Which address do I use?

6) what all extra stuff do I need to send in with the forum 4? Is there any extra papers I need to send it also?

Is there any additional info I need to know about how this works?
I have purchased  two different cans in the past, both from dealers. And done a form_1 SBR.
So I know how tricky / picky the NFA game be.

Just wanted to make sure I got all i dotted and t crossed. Doing this we way I am. And wanting to get it done right the first time.

7) What is the general opinion of AAC around here? (I know it use to be very good, but I seem to remember them falling out of favor?

8) What do we think about the 762-SND-6??
Also what do I need to know about this particular can?
User service able?
Locking quricks?
Weird mounts?

9) What do I need to do to be able put this on my 6.5mm Creedmoor, Ruger RPR?

10) I do not own any 7.62 rifles.  Will owning this cause me to buy more rifles to put it on ?

The thread I'm referencing:  https://www.ar15.com/forums/Armory/Work-In-Progress-new-F1-F4-guide-for-41F-submissions/17-465636/

This

GREAT!!!

@D_Man
Thank you very much!!!
For the INFO

I am glad to know I assume correctly, on the wording.
And got most of right.
Just wanted to double check with you guys.

So for the CLEO
Do I send them a copy of my form_4.
At the same time I mail it to NFA / AFT ?

Or after I have my stamp?

And I just fill out the info on the top of page 2. Correct?

Here is the current version of the Form 4:  https://www.atf.gov/firearms/docs/form/form-4-application-tax-paid-transfer-and-registration-firearm-atf-form-53204/download

You will notice it has 3 copies in the file, and at the bottom of each page in red text it explains that the second copy is the "ATF Copy" and the third is the "CLEO Copy".  Also notice the CLEO copy doesn't get all the same info the first two get.  When you mail the first two copies to the ATF, at that time you also mail the CLEO copy to the CLEO you name at the top of page 2.  They don't have to reply, and may or may not.  If they do reply and say you have to do anything extra, ignore it, you only have to send them that copy.

And if you are transferring this to you as an individual, you fill out all of page 2, not just the top.

Not to hijack this thread, but in this scenario, how long would the individual seller need to hold onto the approved Form 4? His old Form 4 could be trashed as it is no longer correct, but how long would he need to hold onto the new one between him and the buyer, if at all?

The seller would not keep the new approved form.  Only one comes back and since it has the stamp, it goes to the buyer.

I forgot there was only one form that comes back. Thanks.

nvm

Since its on a corporation your friend could actually just add you as a member and you could immediately take possession of the silencer no transfer needed!

He wants to dissolve the corporation and close the books on the company.
He and his ex-wife had it, and since they are not longer together.
He want to make to make it now more.

Question, when I do send in the CLEO info?
Right now? or after I get my stamp?

Now, or at the same time you send everything else to the ATF.

Have him sell you the corporation. Leave the suppressor as the only asset left on its books.

There is no need to really dissolve the corp. Just make you the new president.

Remember, there may be ongoing costs and actions required to keep a corporation valid.
Depending on what state the corporation was chartered in may mean compliance with annual fees, recordkeeping, tax reporting, actually holding an annual meeting and even keeping minutes of those minutes. Fail to abide by those may mean the corporation is no longer a valid entity. If the corp was chartered in LA, then he's going to be paying $30 every year to keep that corporation alive.

Buying a corporation may also mean you get its debts and obligations.

In short, it's a bit more headache than a $200 stamp.

I agree that if there are outstanding debts or other circumstances it may not be a viable option, but there is no need to scrap a perfectly healthy corp if that's not the case.

A corporation in MO has an annual fee of $25 if its one of the old Inc style corps.

The newer LLC's are a one time fee of $50 with no further paperwork required.

I realize this is a state to state situation and if there are ongoing renewal fees or tax returns required $200 for a transfer is cheap peace of mind.

OP, if you're never going to marry, don't want to share toys w/ your siblings/folks, and never have any adult kids while you're alive, go individual.  Otherwise, I'd suggest a trust.

My corporation's only hassle is filing $0 sales tax and $0 franchise tax reports all of 5 times a year.

No need?
How about paying $200 ONE TIME vs an annual payment of $30 and recordkeeping requirements?
Math, how does it work?

Would the originally approved Form 4 (for the transfer between the seller and where he originally got the suppressor from) be effectively trash once the new Form 4 to the new buyer was approved? Is there still a market for cancelled ATF stamps or should it just be shredded/destroyed upon approval of the new Form 4 between buyer and seller?

There would be no legal need for anyone to keep that form and stamp, it could be trashed if wanted.

However, interestingly enough, there is a sort of secondary demand for these forms by literal stamp collectors, the same type who collect valuable postal stamps and such.  Search ebay for NFA stamps and you'll see them being sold there.