NFA Inspections?
Buy purchasing an NFA weapon (Machine gun, (SBR)Short Barreled Rifle, (SBS)Short Barreled Shotgun, (Silencer)Suppressor, (DD)Destructive Device, (AOW)Any Other Weapon) through a class 3 firearms dealer and after having the background completed and approved and paying the tax stamp and either having the local police chief sign off or by having a NFA trust;
is the purchaser now subject to visits by the BATF at any time just like an ffl dealer would be, just curious?
Thanks.
is the purchaser now subject to visits by the BATF at any time just like an ffl dealer would be, just curious?
Thanks.
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No, you are not a firearms dealer so there is no compliance inspection. 0 -
So once I purchase it via the background and such then that's it; interesting as I was considering not getting involved with NFA weapons because it sounded like trouble to not get involved with, but that's great.
Aren't there other regulations though concerning keeping an NFA weapon locked up, going on vacation while its locked up, moving with it or allowing someone else to fire it etc; where the owner must report to the BATF on the whereabouts of the NFA weapon and such?0 -
I suggest you read the above sticky about NFA stuff and the links in the sticky. It will answer most of your questions.
No rules on locking it up, no rules on vacationing, no rules on allowing someone else to shoot it, depends on the NFA item what reporting must be done, if at all, when moving the item interstate.
Depending on how your NFA item is purchased will depend on who is legally allowed to be in possession of the item.0 -
Would use an NFA trust if I were to purchase an NFA weapon. 0 -
I know I was required to obtain Fed permission to take mine from IN to the Knob Hill, KY shoot. How many folks bother - I have no idea. I have too much money invested to take any legal chances. 0 -
quote:Originally posted by milsurplus
Would use an NFA trust if I were to purchase an NFA weapon.
You've done your homework.
Make sure it's a 'revocable' trust. It allows you the use of a 'cover letter' designating trust owned property, acquired property and disposed property.
You can throw in jewellry, precious metals, paintings etc. to the trust, if you feel the need.
Best to have a lawyer set it up [the trust] in your state. I've heard reports of mail-order trusts on CD lacking in comprehensiveness. Best, Joe0 -
I asked the ATF folks a few years ago at the Shot Show about my NFA items in the case of my death (a premature thought I hope). There is a form to fill out to transfer them to someone (in my case my son) without him having to pay the $200 again even though he would not be in control of my estate. 0 -
quote:Originally posted by cbxjeff
I asked the ATF folks a few years ago at the Shot Show about my NFA items in the case of my death (a premature thought I hope). There is a form to fill out to transfer them to someone (in my case my son) without him having to pay the $200 again even though he would not be in control of my estate.
That is an Form 5, which is for tax free transfer of a National Firearms Act weapon.
If someone is going to go the trust route it is important to keep in mind that the BATFE may or may not allow the tax free transfer of a registered NFA weapon from a trust to an individual, this is looked at on a case by case basis because state laws regarding the transfer of trust property to private parties is subject to state laws and those are all over the place on these issues. Another thing that most folks who go the trust route seem to forget is that whoever is going to receive the NFA weapon from the trust, whether it is tax free on a Form 5 or tax paid on a Form 4, is going need the CLEO sign off in order for the transfer to be approved. If the purpose of the trust was to avoid this sign off (in cases where the CLEO won't sign) then you are right back to square one. Having your legal heir set up a trust specifically to receive a NFA weapon from your trust after you drop dead is something for attorneys to take a long hard at.0 -
Couldn't you simply add the heir as a member of the trust for the NFA item?
quote:Originally posted by mark christian
quote:Originally posted by cbxjeff
I asked the ATF folks a few years ago at the Shot Show about my NFA items in the case of my death (a premature thought I hope). There is a form to fill out to transfer them to someone (in my case my son) without him having to pay the $200 again even though he would not be in control of my estate.
That is an Form 5, which is for tax free transfer of a National Firearms Act weapon.
If someone is going to go the trust route it is important to keep in mind that the BATFE may or may not allow the tax free transfer of a registered NFA weapon from a trust to an individual, this is looked at on a case by case basis because state laws regarding the transfer of trust property to private parties is subject to state laws and those are all over the place on these issues. Another thing that most folks who go the trust route seem to forget is that whoever is going to receive the NFA weapon from the trust, whether it is tax free on a Form 5 or tax paid on a Form 4, is going need the CLEO sign off in order for the transfer to be approved. If the purpose of the trust was to avoid this sign off (in cases where the CLEO won't sign) then you are right back to square one. Having your legal heir set up a trust specifically to receive a NFA weapon from your trust after you drop dead is something for attorneys to take a long hard at.0 -
quote:Originally posted by iwannausername
Couldn't you simply add the heir as a member of the trust for the NFA item?
quote:Originally posted by mark christian
quote:Originally posted by cbxjeff
I asked the ATF folks a few years ago at the Shot Show about my NFA items in the case of my death (a premature thought I hope). There is a form to fill out to transfer them to someone (in my case my son) without him having to pay the $200 again even though he would not be in control of my estate.
That is an Form 5, which is for tax free transfer of a National Firearms Act weapon.
If someone is going to go the trust route it is important to keep in mind that the BATFE may or may not allow the tax free transfer of a registered NFA weapon from a trust to an individual, this is looked at on a case by case basis because state laws regarding the transfer of trust property to private parties is subject to state laws and those are all over the place on these issues. Another thing that most folks who go the trust route seem to forget is that whoever is going to receive the NFA weapon from the trust, whether it is tax free on a Form 5 or tax paid on a Form 4, is going need the CLEO sign off in order for the transfer to be approved. If the purpose of the trust was to avoid this sign off (in cases where the CLEO won't sign) then you are right back to square one. Having your legal heir set up a trust specifically to receive a NFA weapon from your trust after you drop dead is something for attorneys to take a long hard at.
Certainly.0
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