My son and I recently set up an NFA trust for suppressor purchases through the Silencer Shop. So far, we have have two cans paid for and are now waiting for the ATF to do their Kabuki theater. I also have a couple of SBRs on Form 1s that Id like to move into the trust. They were done as Individual purchases back when it took a CLEO signoff. What is the process to move them? I am assuming on a Form 4 along with the extortion fee, but do I need to use an SOT to handle it the transfer?
(This move is part of estate planning as well as fun sharing with my son. I am aware that they can go tax free on Form 5 once I am on the elevator down to hell, but I'd rather not have them worry.) I trust my son with my stuff and want him to be able to enjoy them without me have to be there.
Moving Individual Form 1 items into trust
Form 4 should do it, plus the $200 per form.
If the guns are in your name, the transfer to a trust is straightforward.
You do have to submit a complete copy of the Trust with each transfer, and I think there is now additional supporting paperwork concerning the Trustees (fingerprint cards and possibly photo).
Check with the ATF about the fairly new paperwork for the Trustees, for your private registered ownership transfer to a Trust.
My son set up our family trust 15 years ago.
My eldest son and I are the Trustees, and my younger son and my older son's wife are the current Benefactors.
I transferred all 13 NFA toys in my name to the trust in one batch shortly there after.
Back then it was just the Form 4, a copy of the Trust and the $200 per gun; yes, 13 times!
If the guns are in your name, the transfer to a trust is straightforward.
You do have to submit a complete copy of the Trust with each transfer, and I think there is now additional supporting paperwork concerning the Trustees (fingerprint cards and possibly photo).
Check with the ATF about the fairly new paperwork for the Trustees, for your private registered ownership transfer to a Trust.
My son set up our family trust 15 years ago.
My eldest son and I are the Trustees, and my younger son and my older son's wife are the current Benefactors.
I transferred all 13 NFA toys in my name to the trust in one batch shortly there after.
Back then it was just the Form 4, a copy of the Trust and the $200 per gun; yes, 13 times!