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Posted: 8/18/2012 8:39:14 AM EDT
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How long is it taking for a Form 5 transfer to an heir. A friend of mine passed and I'd like to let hi son know. Also, do you need a certified copy of the death certificate?
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How long is it taking for a Form 5 transfer to an heir. A friend of mine passed and I'd like to let hi son know. Also, do you need a certified copy of the death certificate? Probably the TRUST and death cert. Do Form 5's only work with trusts? No, they work for individuals as well. The executor of the estate must sign the Form 4, and include a copy of the death certificate. As far as turnaround time, they generally run about the same as a Form 4. 
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Straight from the ATFs website since it a NON taxed transfer. From the sounds of it, should take about as long as a form 3Q: How long does it take for ATF to process my NFA application?
The processing time for NFA applications varies depending on the type of application submitted. Certain applications require the processing of making or transfer taxes while others are tax-exempt. Some applications require the prospective transferee to pass Federal background checks based on both name and fingerprints while transferees such as law enforcement agencies or foreign military agencies are exempt from background checks. ATF also must ensure that a proposed transfer would not violate State or local law in the transferee’s place of residence. The time needed to research and verify State and local requirements can vary greatly depending on the legal complexity of laws governing the type of firearm sought or the business structure and status of applicants other than individuals. In addition, the sheer volume of applications submitted for ATF review has dramatically increased in recent years. In fiscal year 2005, for example, ATF processed 41,579 NFA applications of all types. By FY 2011 that number had increased to 105,373, with a 25% decrease in the number of NFA examiners available to process the work. Currently, ATF’s customer service goal is to process an Application to Make and Register a Firearm (Form 1) and an Application for Tax Paid Transfer and Registration of a Firearm (Form 4) within 6 months of ATF’s receipt of a correctly executed application. The customer service standard for processing all other types of NFA applications (i.e., those which don’t generally require tax processing or background checks) is within one month of ATF’s receipt of a correctly executed application. It is important to keep in mind that incomplete or incorrect applications slow ATF’s ability to take final action. If you wish to confirm receipt of an application by ATF or obtain a status check on a pending application, you should call the NFA Branch at 304-616-4500. It will help the NFA Branch locate your application more quickly if you have the serial number of the firearm sought for transfer and the name of the prospective transferee. |
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Straight from the ATFs website since it a NON taxed transfer. From the sounds of it, should take about as long as a form 3Q: How long does it take for ATF to process my NFA application? The processing time for NFA applications varies depending on the type of application submitted. Certain applications require the processing of making or transfer taxes while others are tax-exempt. Some applications require the prospective transferee to pass Federal background checks based on both name and fingerprints while transferees such as law enforcement agencies or foreign military agencies are exempt from background checks. ATF also must ensure that a proposed transfer would not violate State or local law in the transferee’s place of residence. The time needed to research and verify State and local requirements can vary greatly depending on the legal complexity of laws governing the type of firearm sought or the business structure and status of applicants other than individuals. In addition, the sheer volume of applications submitted for ATF review has dramatically increased in recent years. In fiscal year 2005, for example, ATF processed 41,579 NFA applications of all types. By FY 2011 that number had increased to 105,373, with a 25% decrease in the number of NFA examiners available to process the work. Currently, ATF’s customer service goal is to process an Application to Make and Register a Firearm (Form 1) and an Application for Tax Paid Transfer and Registration of a Firearm (Form 4) within 6 months of ATF’s receipt of a correctly executed application. The customer service standard for processing all other types of NFA applications (i.e., those which don’t generally require tax processing or background checks) is within one month of ATF’s receipt of a correctly executed application. It is important to keep in mind that incomplete or incorrect applications slow ATF’s ability to take final action. If you wish to confirm receipt of an application by ATF or obtain a status check on a pending application, you should call the NFA Branch at 304-616-4500. It will help the NFA Branch locate your application more quickly if you have the serial number of the firearm sought for transfer and the name of the prospective transferee. See the parts above that I highlighted in red, then read this: http://www.atf.gov/press/releases/1999/09/090599-openletter-nfa-estate-transfers.html Note the following: Form 5's to individual heirs require fingerprint card submissions for FBI checks on the individual, plus ATF must verify that no federal, state or local law prohibits the heir form receiving or possessing the firearm. So although no tax payment is required, the tax processing is a minor part of the ATF screening of NFA applications. The fingerprint and law review are the time-consuming part, and in that aspect, a Form 5 to an heir is exactly the same as a Form 4 transfer. Thus, it will take just as long as a Form 4. IMHO. Your Mileage May Vary. |
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Where do the trust items (NFA ones really) go between death and Form 5 approval?
They go wherever the trust specifies they should go. This. Usually if all of the trustees are deceased, the successor trustees will be in control/possession of the trust property while it is being transferred to the beneficiaries. |
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Ok, this doesn't involve a trust. Although it might be easier if the heir did have one. However, the heir is out of state. Does it have to go through a dealer in the heir's home state? Thanks No. Again, look at the ATF estate FAQ I linked to: A Form 5 from an estate or trust to an heir in another state may be transferred directly, without involving an in-state FFL. |
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Ok, this doesn't involve a trust. Although it might be easier if the heir did have one. However, the heir is out of state. Does it have to go through a dealer in the heir's home state? Thanks No. Again, look at the ATF estate FAQ I linked to: A Form 5 from an estate or trust to an heir in another state may be transferred directly, without involving an in-state FFL. Tony, I apologize for not reading the link you provided. It answers all the questions I had. I'm going to print out a copy for the heir. Thank you very much. You are a wealth of information. |
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