Posted: 3/10/2015 4:31:24 PM EDT
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Hey guys, recently ordered my first can through silencershop.com , went with a trust through them. Is a bank account in the trusts name required in AZ, I have heard this but didn't see anything about it when i set the trust up. Anyone know the current wait times? I submitted last week and its already killing me. |
| I didn't register mine and have been approved for three stamps already. Time wise you should prepare for 5-7 months of waiting. It seems like Form 3s are taking over a month and the Form 4 will likely be at least 90-120 days. I'm waiting on a few to clear myself, so I can definitely commiserate with you. |
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You should set up an account in the Trust's name and run ALL of your NFA purchases through it. Reason? IF the ATF finds a reason to run an audit on you, you want to be able to show them the paper trail that the Trust goodies were purchased with Trust funds (thereby helping to establish ownership/assignment to the Trust). Let's say you use your personal checking account to pay for the NFA item ---and/or it's $200.00 transfer fee--- the ATF could interpret that now as a "personal" item and not a item assigned to, and protected by, the Trust. And don't forget --- if you pay with cash there again is no paper trial. Protect your hiney (and your assets) and make it easy for the ATF to see who's purchasing the item and where it's going. The ATF has been working to refine and crack down on just what constitutes ownership and control [of said assets]. |
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Quoted:
You should set up an account in the Trust's name and run ALL of your NFA purchases through it. Reason? IF the ATF finds a reason to run an audit on you, you want to be able to show them the paper trail that the Trust goodies were purchased with Trust funds (thereby helping to establish ownership/assignment to the Trust). Let's say you use your personal checking account to pay for the NFA item ---and/or it's $200.00 transfer fee--- the ATF could interpret that now as a "personal" item and not a item assigned to, and protected by, the Trust. And don't forget --- if you pay with cash there again is no paper trial. Protect your hiney (and your assets) and make it easy for the ATF to see who's purchasing the item and where it's going. The ATF has been working to refine and crack down on just what constitutes ownership and control [of said assets]. What the furry guy said..... A good place to have an account that is minimal on charges for smaller deposits would be a credit union. I personally like SunWest. |