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Posted: 3/8/2014 1:41:53 PM EDT
| So my SOT is new to the efile world (actually Class 3 altogether) and today when I went to look at my cans he told me that he didn't send in my schedule A with the rest of the trust when he efiled my 3 form 4s. He tried to tell me it wasn't necessary and all the trusts that he had been submitting this far didn't have Schedule As and mine was the only one that did. Is this normal or are mine (and everyone else's) going to be rejected? He said he would call on Monday to double check. Any insight/experiences? |
| Just for some variation, one dealer who does a lot of efiling told me the schedule A needed to be blank. Another told me it does not matter and that is what they have been told by the ATF. Generally, in MO you need to have something in the Schedule A, as I understand it. I have no idea. |
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yeah, you may be waiting an extra month or 2. I didn't include it last time but had not previously and it went into error status.
I figured they already knew what would be on my schedule A so why send it in. They are probably making sure that its being kept up to date. |
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Quoted:
Does your trust documentation refer specifically to Schedule A? Without looking I think it says something along the lines that an item will be added to the trust with an signature from the trustor/grantor and acknowledged/received with a signature from the trustee. I hadn't added the supressors to the schedule A yet, but already had my two lowers that I Form 1ed in there. Who knows. I just don't want to wait, and then in 4 months find out I need it and then have to resubmit, especially with 41P looming. That was the whole reason I purchased these when I did. |
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From SilencerShop:
Please note that the uploaded file MUST contain all pages of the trust as well as any attachments it mentions (like Schedule A). It must also show the signatures and notary stamps, so don’t just upload the PDF document the lawyer sent to you. http://www.silencershop.com/understanding-electronic-submissions |
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Quoted:
From SilencerShop: Please note that the uploaded file MUST contain all pages of the trust as well as any attachments it mentions (like Schedule A). It must also show the signatures and notary stamps, so don’t just upload the PDF document the lawyer sent to you. http://www.silencershop.com/understanding-electronic-submissions That's what I was afraid of. 
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Then the question becomes does something have to be on the Schedule A? One dealer treated it as it needed to be blank, but included, because in his words the ATF had kicked those back them that were not blank.
Frankly, I find it odd that (at least I think) that the ATF is using non-attorneys to make legal determinations of the validity of a state's trust. I have dabbled in trust law and taken CLE courses, it can be quite complex. |
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Quoted:
Then the question becomes does something have to be on the Schedule A? One dealer treated it as it needed to be blank, but included, because in his words the ATF had kicked those back them that were not blank. Frankly, I find it odd that (at least I think) that the ATF is using non-attorneys to make legal determinations of the validity of a state's trust. I have dabbled in trust law and taken CLE courses, it can be quite complex. I would also like to know if something has to be on the schedule A. I'm getting ready to purchase a supressor (first NFA item) and need to know if I need to list anything on schedule A. If so, does any one have an example? I've read that you only need to send in a complete schedule A if your trust references schedule A. I've also read that there has to be something on the schedule A for the trust to be valid. So what does the first time supressor buyer do? |
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Quoted:
I would also like to know if something has to be on the schedule A. I'm getting ready to purchase a supressor (first NFA item) and need to know if I need to list anything on schedule A. If so, does any one have an example? Quoted:
Quoted:
Then the question becomes does something have to be on the Schedule A? One dealer treated it as it needed to be blank, but included, because in his words the ATF had kicked those back them that were not blank. Frankly, I find it odd that (at least I think) that the ATF is using non-attorneys to make legal determinations of the validity of a state's trust. I have dabbled in trust law and taken CLE courses, it can be quite complex. I would also like to know if something has to be on the schedule A. I'm getting ready to purchase a supressor (first NFA item) and need to know if I need to list anything on schedule A. If so, does any one have an example? Typically, something should be on there, depends on state law. I should be okay to have something in the Schedule A, but who knows with the ATF. |
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Quoted:
I would also like to know if something has to be on the schedule A. I'm getting ready to purchase a supressor (first NFA item) and need to know if I need to list anything on schedule A. If so, does any one have an example? Quoted:
Quoted:
Then the question becomes does something have to be on the Schedule A? One dealer treated it as it needed to be blank, but included, because in his words the ATF had kicked those back them that were not blank. Frankly, I find it odd that (at least I think) that the ATF is using non-attorneys to make legal determinations of the validity of a state's trust. I have dabbled in trust law and taken CLE courses, it can be quite complex. I would also like to know if something has to be on the schedule A. I'm getting ready to purchase a supressor (first NFA item) and need to know if I need to list anything on schedule A. If so, does any one have an example? [b]
I've read that you only need to send in a complete schedule A if your trust references schedule A. I've also read that there has to be something on the schedule A for the trust to be valid. So what does the first time supressor buyer do? I was also told that I need to send in a Schedule A if my trust references it. When my attorney created my trust he had me photocopy a $5 bill and told me to keep the photocopy with my trust paperwork. He also told me to add the serial number from the bill to my Schedule A. When I purchased my first suppressor I sent in my trust paperwork including the Schedule A with the $5 listed on it. The ATF approved my paperwork with no issues. Once I got my new suppressor out of jail I added it to the Schedule A along with my other NFA acquisitions. I have read the reason for adding $5 to the schedule A is that in many states a trust can be considered invalid if it has no assets attached to it. The $5 bill acts as a 'placeholder' to protect the validity of the trust until you add an asset to it. Once you add an asset to the trust you can remove the $5 from the Schedule A if you want to. Adding an asset to a new trust as a placeholder is considered by many to be a minor issue and often gets overlooked... |
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Quoted:
Does your trust documentation refer specifically to Schedule A? Doesn't matter. My trust has a Schedule A (don't they all?), but makes no mention of it anywhere in the trust. On one of my paper submissions last year, I accidentally left off the Schedule A and it still went into error status. It cost me somewhere on the order of an extra 30-60 days of wait. Bottom line, include everything related to the trust. If it's not needed, then they'll just ignore it. |
| Not all trusts use a Schedule A, some trusts instead use separate assignment forms for each asset (which don't typically need to be sent with the rest of the paperwork). If your trust specifies a Schedule A (or B or C) then it needs to be included for the trust paperwork to be complete. |
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Quoted:
Not all trusts use a Schedule A, some trusts instead use separate assignment forms for each asset (which don't typically need to be sent with the rest of the paperwork). If your trust specifies a Schedule A (or B or C) then it needs to be included for the trust paperwork to be complete. Yeah, mine does. I'm frusterated because I gave him all the files (ie trust and schedule a) but he didn't submit it. IMO it's better to submit too much instead of too little. |
| My trust references a schedule A and also recites elsewhere that the trust has $10 in assets (but there is no specific $10 bill listed on my schedule A). I made my first e-form filing in October. I submitted my schedule A along with the trust, but the schedule A was blank (as the trust didn't own any NFA items yet). I was approved. |
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Hmmm...
My trust does not mention a Schedule A, nor do I have one. I have successfully submitted two Form 4's without a Schedule A here in VA. All these new rules and opinions have come out about trusts since I submitted the F4 im waiting on now... My ticket should be getting close as they cashed my check in August. I did NOT submit a Schedule A this time. It was not submitted on an eFile, so if I do go into problem status, all is not lost... On a side note, when I called my attorney guy the other day about getting a digital copy of the trust for eFiling my next stamp, he asked how we funded my trust and what did it say on my Schedule A... I said "You didn't give me a Schedule A, you said I didn't need one" He said "Oh..." Should be interesting to see what happens... 
~WTS |
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Quoted:
Your trust will need to show that it owns some sort of asset. E forms do not go into problem status. They get kicked back and you have to start over. I had a dealer tell me several days ago, that if there is a problem with my efile submissions, the ones he did on my behalf, that the ATF would let him know and that it would not hurt my place in line. 
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