Armory Sponsor
Posted: 1/3/2015 1:38:23 AM EDT
| I was wanting to ask what you guys think about someone getting into NFA with a trust this late in the game. Would it be worth it for me to form my trust and send in applications this late with the 41P rule changes coming? Or should I see what if any changes are made and go from there. I don't have endless funds so I wouldn't be able to get suppressors soon but was wanting to send off for some SBR. |
| Just to explain what I mean, 41P has been talked about for well over a year now. It could come tomorrow, next week, next month, next year, never, etc. If you just go ahead and get the ball rolling you're not really losing anything. You can get a lot of forms approved in a year. |
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Definitely do it now. Anything that's in the system when the ruling comes down will be grandfathered in (as I understand it). Last I heard the earliest the ruling will come is May of this year.
Things are going fast with Form 1 and Form 4 right now, at least they went quick for me. 300BLK SBR approved in 7 weeks SpecWar762 approved in 4.5 months -Millbarge |
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Quoted:
Definitely do it now. Anything that's in the system when the ruling comes down will be grandfathered in (as I understand it). This seems to be the way most people expect it to happen (myself included, for whatever that's worth), but it certainly is not known to be the case. The 41P NPRM simply did not address the question of what would happen to submissions already in the pipeline when it took effect. Anything anybody says more specific than "we just don't know" is speculating. Nobody knows except for possibly a few insiders at ATF (and I'm not convinced they even do), and they aren't talking. However, there's certainly no harm in starting now. Even if you apply, and 41P takes effect while your Form 4 is in progress, and your application isn't grandfathered, and you're unwilling/unable to provide prints/photos/CLEO certification for everyone on the trust, your application will be disapproved and you'll get your $200 back. |
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