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Posted: 1/18/2009 1:11:49 PM EDT
| when going thru willmaker in the property i need to list, do i place the suppressor im going to buy on it????from what i gather i buy it from the seller then fillout my form 4'with the sot im using .. at that time do i notarize everything with the suppressor listed???? |
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In order for you to do the transfer either individual or trust you need to purchase the suppressor first.
You put the model, manufacturer, caliber and serial number in the trust. When you mail in your form 4 send a copy of the trust. The BATF needs to see the NFA item that you are transferring to the trust in the trust. Just did my first trust 6 months ago using will maker and it went through without a snag. but the wait oooooh the wait.......and from what i have heard it isn't getting any shorter. 
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Quoted:
In order for you to do the transfer either individual or trust you need to purchase the suppressor first. You put the model, manufacturer, caliber and serial number in the trust. When you mail in your form 4 send a copy of the trust. The BATF needs to see the NFA item that you are transferring to the trust in the trust. Just did my first trust 6 months ago using will maker and it went through without a snag. but the wait oooooh the wait.......and from what i have heard it isn't getting any shorter.
Are you sure? I thought you didn't put it in until after approval. Otherwise, if you show the trust as owning it, you would have technically already transferred it without approval, making it an unregistered transfer. But I've never done this before either, I am only going by what I've read. Just be sure before doing that. |
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Get a checking account in the trust’s name, and pay for the item out of the trust account. If you pay for it the NFA item, say with your credit card then transfer it to the trust, it could be interpreted as two transfers (From the dealer to you, and then from you to the trust) making one transfer a Non-registered transfer. This could be an easy target if the anti-gun folks get there way, these items could be considered an illegal transfer from dealer to you then you to the trust, possibly confiscated and destroyed. I figure a checking account in the trust name is cheap insurance for my collection. Just my $0.02.
Later, D |
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Quoted:
Get a checking account in the trust’s name, and pay for the item out of the trust account. If you pay for it the NFA item, say with your credit card then transfer it to the trust, it could be interpreted as two transfers (From the dealer to you, and then from you to the trust) making one transfer a Non-registered transfer. This could be an easy target if the anti-gun folks get there way, these items could be considered an illegal transfer from dealer to you then you to the trust, possibly confiscated and destroyed. I figure a checking account in the trust name is cheap insurance for my collection. Just my $0.02. Later, D As an authorised agent of the trust (the trustee) you can pay any way you see fit. You sign the Form 4 as trustee and can just put TRUSTEE under your signature on a check if you are paranoid... way easier than a new checking account. I paid cash for the can. The form has ONE transfer... to you as trustee. There is not two transfers unless you get it trandsfered to your name as an individual then just transfer it to a trust on your own. You proabably wont have an issue with putting the suppressor on your Schedule A but I didnt do it. I put a hand gun in there just so something was in there. |
Has to be in the trust when you send in the forms. If you're the trustee, no need to go get a freaking checking account for the trust.
Pay for it. Add it to your schedule. Send in the forms. Wait for the wheels of bureaucracy to turn. The transfer doesn't come from the purchase, it comes from the transfer of posession. Just sayin'. |
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Quoted:
Has to be in the trust when you send in the forms. If you're the trustee, no need to go get a freaking checking account for the trust. 
Pay for it. Add it to your schedule. Send in the forms. Wait for the wheels of bureaucracy to turn. The transfer doesn't come from the purchase, it comes from the transfer of posession. Just sayin'. No, it does not have to be. Form 4's get approved either way (currently at least). My lawyer told me not to include it on the Schedule A so I did not. My research indicates that most people do not include the item being transferred on the Schedule A. As someone suggested giving money to the trust and then letting the trust purchase the item is probably the most anal retentively correct thing to do. However, that would lead to something that no one has ever answered for me (I could ask the lawyer who did my trust but he is probably tired of me :-) - if you as grantor gives money to the trust and then the trust then buys the NFA item, the NFA item would never actually go on the Schedule A. The Schedule A (at least in my trust) is for assignment of property from grantor to trust. The scenario above the only thing that would be on the Schedule A is the money transferred from grantor to trust. |
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Quoted:
thanx for the info i really appreciate it!!!!!! what was your wait time if u dont mind me asking????? my wait time was roughly 70days I was told by the BATF to include the NFA item on the schedule A but if you ask 5 agents the same question im sure you will get at least 3 different answers. Put it on the Sch A a form 4 was never denied for having too much info. after about 8weeks i'd call the BATF i waited 6 as it was my first centerfire can....i was chompin at the bit. (304) 616-4500 Tell them you want to check on the status of an NFA transfer. Have the serial number of the item you're calling about ready because they're going to ask for your serial number and then your name. For the record You own an NFA item second you pay for it. Now you cant be in sole possession of this item till the batf says so. Getting a checking acct in the trusts name is just one more thing you have to keep up with and if you do anything that voids the trust you are now in the possession of a illegal nfa item and opps will not cover your ass. I kept everything with my trust simple. The Batf doesn't care who or how the item is paid for only who the dealer is and who the item is going to be transferred to. How this item was payed for will never come up during the transfer on the BATF's end. The only thing that will matter is that the Dealer, the trustee's are in good standing and the trust is valid. then you get your stamp and take possession of your item. A transfer of an NFA item is all about possession of the NFA item not ownership of the NFA item once you pay for it it's yours now whether or not you get to take it home is up to the BATF. just imagine if we had to buy cars this way. 
Good luck and enjoy the hobby. |
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I just did my first Trust form 4. I just got approved 2 days ago, waiting on the papers yay!
I had a Trust attorney AND my dealer say NOT to put the NFA item im getting transfered on the Trust, because I do NOT own that NFA item yet. Your Schedule A CANNOT be blank, making the Trust invalid. I Put a $1 bill for my 1st item in my schedule A. I wrote down the Serial # on my Schedule A, and that is my 1st item on my Trust. But there has to be something! In a nut shell, do not put anything on the Trust that you currently do not have possesion of. But something must be on the Trust, either a dollar, a pistol, or whatever. TabbieEater, you prove great points, ESPECIALLY the fact you literaly can ask 5 agents the same question and get 3 different answers. Its obvious, we've all done our Trusts different ways, but its working for now! Do your trust how you like, seems like its going to get approved anyways lol |
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