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Posted: 7/21/2022 7:44:10 AM EDT
A Kentucky LLC (of which I am the only member) has a few stamps (Form 1 and Form 4) that were acquired back when that was the easier route than filing as an individual (pre 41 changes). I was not thinking far enough ahead when we did this because one of these days I'll retire and there will be no reason to maintain the LLC. (In KY it currently costs almost $200 per year in taxes and fees to maintain an active LLC)

So to eventually transfers these NFA items from the LLC to me (or a Trust).... is there any route short of filing for new stamps on each item and paying $200 each (which is still cost effective in a few years) to make this transfer?

Do the Form 1 items get transferred on a Form 4 given that said item are already “made” ?

Link Posted: 7/21/2022 7:56:17 AM EDT
[#1]
You would have to transfer them all on form 4s to yourself as an individual, and pay the $200 for each stamp. If it's only a few items it probably still makes financial sense to do so if you're paying $200 a year to maintain the LLC.
Link Posted: 7/21/2022 7:56:34 AM EDT
[#2]
Yeah everything would have to be transferred on a form 4 with a tax stamp paid. But you’d be able to keep them in your possession since you are the trust.
Link Posted: 7/21/2022 11:15:42 AM EDT
[#3]
As was said they go to you via Form4.  You sign the form twice etc.  I did that a few years ago for same reason. I dissolved my s corp from 22 years ago and form4'ed a bunch of can's to myself vs filling corporation tax returns.  Well, I did the transfer first =)

Link Posted: 7/21/2022 3:23:09 PM EDT
[#4]
Who holds them while in Jail(waiting for approval)?

Just kidding...
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