Moving Individual Form 1 items into trust
Posted: Sun May 23, 2021 5:21 pm
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.
(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.