Armory Sponsor
Posted: 4/5/2013 6:55:01 PM EDT
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Hello, I have a properly stamped and legal SBR, how do I transfer this rifle to a family member, or in a will?, I did not set it up in a Trust to begin with.
Thanks, Tim |
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It passes through a will to the heir on a Form 5, tax free transfer. Any other entity it goes on a Form 4, tax paid transfer.
http://www.atf.gov/press/releases/1999/09/090599-openletter-nfa-estate-transfers.html ETA, you could consider setting up a trust, transferring the SBR to the trust (Form 4), and then any trustee can have possession. |
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Thank you for your helpful information.
I decided not to set up another Trust (at present I have seven) and go through the yearly Fed & State of CT tax return, entity tax, etc., my next question is: can I will my pistol collection to a family member, and do they then simply register them in their name? Thanks again, Tim. |
| Pistols and rifles NOT NFA, do NOT need to be "registered" as of today, there is no gun registry and universal background checks do not exist. They may down the road, pending future legislation, in which case whatever laws are enacted, those would need to be followed. Currently, there would be nothing special that needs to be done for other firearms. |
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Quoted:
Thank you for your helpful information. I decided not to set up another Trust (at present I have seven) and go through the yearly Fed & State of CT tax return, entity tax, etc., my next question is: can I will my pistol collection to a family member, and do they then simply register them in their name? Thanks again, Tim. Your question is state level, not federal. You'd have to research state law for CT. |
Armory Sponsor