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Posted: 7/1/2016 7:05:05 PM EDT
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First of all sorry to the guy I replied to the other day as my lawyer was adamant about this so I took it as gospel.
Anyway I was told as soon as I paid for something add it to my Form 4 assignment of property before submitting. My dealer today advised against saying he has seen them come back. Called 4 other dealers in the area. One agreed with my dealer, one said either way doesn't matter, one said no one has ever done it that way and one said just make sure I do the $1 to the trust deal first. Trust is currently empty. I was fixing to submit several Form 1s Sounds like most don't add it till the Stamp comes back....opinions? |
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Nevermind re-read my attorney's notes. I am confusing assignment of property and Schedule A as the same thing. Schedule A needs an asset and is not optional. Assignment of Property is optional. Correct. I used my Assignment of Property when I first established the trust, and transferred my long guns I planned to SBR, just to have something to list on Schedule A, all my other Form 4s are listed as trusts, so it's as if my trust bought them in the first place, no real need to assign them to the trust. |
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When you take possession of said item. ATF knows what you have. They just admitted as much by sending you a canceled stamp. No one sees your list of accets unless you want them to. No cancelled stamp...just trying to avoid one. Actually some dealers, according to my lawyer, will try the ole "I need a copy too". I have yet to encounter one however. |
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No cancelled stamp...just trying to avoid one. Actually some dealers, according to my lawyer, will try the ole "I need a copy too". I have yet to encounter one however. Quoted:
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When you take possession of said item. ATF knows what you have. They just admitted as much by sending you a canceled stamp. No one sees your list of accets unless you want them to. No cancelled stamp...just trying to avoid one. Actually some dealers, according to my lawyer, will try the ole "I need a copy too". I have yet to encounter one however. They may just have routinely copied the documents when they came in - long as they pass the original on to you, you don't know, and needn't care if they kept a copy for their records. |
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Canceled stamp was ment as you applied for a tax stamp. The stamp is no longer worth $200 when is is crossed over. Crossed over stamp means they accepted your registration and payment. Crossed over or..a stamp across the tax stamp nullifys the value of the tax stamp just like regular mail. It s just a means of verifying payment in full and compliance with regulation. Your Form with a canceled stamp attached is a receipt you complied with regulation.
99% of the time ATF does not ever get a list of accets listed in Schedule A. No ones Busniess what you have in trust but you and heirs. ATF knows what you have NFA wise. ATF only gets first page with qualifying accet that funded the trust as per your states rules. Unless your State happens to require a filing with the County Clerk then no one even knows the trust exists until someone finds it after you die. The ATF only cares that your Trust was set up correctly as per your states rules and that none of the people listed are prohibited persons with Reguards to firearms possession. Approved. |
| i was curious aboutvthis too. so i called the atf nfa branch and a nice lady said to add the item to my schefule a after receiving the stamp and the trust takes full possession. while you own the nfa item it is not in your contol. the way she explained it was the batfe sees the scheule a as a list of items in control and physical posession of the trust |
| I've had guys send in completely blank Schedule A's even though their trusts holds multiple items. The NFA branch isn't updating their records based on what your Schedule A says. They don't care what's in your Schedule A, just that you sent in a copy (if referenced in your trust...) |
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