NFA Trust - Pensacola Fishing Forum

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Old 02-12-2016, 02:46 PM   #1
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Default NFA Trust

Can anyone give me a run down of some of the reasons why to do this and what does it cover. I pretty much know nothing.

Last edited by Splittine; 02-12-2016 at 03:09 PM.
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Old 02-12-2016, 03:06 PM   #2
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Well currently:

No CLEO sign off.
No finger prints.
No passport pic requirements.
Faster Form 1 processing with eForms.

All of that is changing July 13, 2016. Anything in pending status before that date will not require the above items. After that date:

CLEO sign off will not be required for either individual or trust routed items but dealer will have to notify CLEO.
Finger prints and passport pics required for all responsible persons for each NFA transfer.

Most importantly, IMO:

Multiple people can be added to the trust and any trustee can use the NFA item as if they own it. Letting someone borrow an NFA item that was issued to an individual without your presents is a HUGE no no. Also, in the event of your death the items attached to the trust will already have a beneficiary and they will not have to go through all the legal hoops to inherit them.
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Old 02-12-2016, 03:17 PM   #3
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Can I be a part of your trust? You buy the goodies and I will make sure they are well fed and well loved! hehe
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Old 02-12-2016, 03:21 PM   #4
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Quote:
Originally Posted by JD7.62 View Post
Can I be a part of your trust? You buy the goodies and I will make sure they are well fed and well loved! hehe
Yeah you can pay a monthly usage fee.
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Old 02-12-2016, 03:31 PM   #5
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Can someone explain what a NFA trust is?
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Old 02-12-2016, 03:50 PM   #6
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Quote:
Originally Posted by jspooney View Post
Can someone explain what a NFA trust is?
Legal document that holds (let's say owns) nfa firearms and accessories for the assigned trustees (call them co-owners. Has control or powers over items held by trust).

I think that's about the easiest for some to understand it.

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Old 02-12-2016, 04:00 PM   #7
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Quote:
Originally Posted by The Pitt View Post
Legal document that holds (let's say owns) nfa firearms and accessories for the assigned trustees (call them co-owners. Has control or powers over items held by trust). I think that's about the easiest for some to understand it.
I must be slow, cause I still don't get it. I'll google it. Thx
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Old 02-12-2016, 05:20 PM   #8
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I have a gun trust with nothing on it as of yet and with the changes there is not as much reason to have it. I am more in line with the Hearing Protection Act getting passed and having suppressors taken off the NFA.
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Old 02-22-2016, 07:43 AM   #9
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Thanks guys. Got it setup, now hurry up and wait.
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Old 02-28-2016, 09:33 PM   #10
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Split, what route did you go about setting yours up? Did you do it yourself or get a lawyer? What was your cost, if you don't mind me asking? I just kind of got bit by this bug this weekend and am researching how to get it done. I want to do one so I can play with silencing some guns.
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