Can someone help with a couple of Form 1 questions

[dcmdon]

I'm trying to get the paperwork out today to register a SBR lower.

1) I am registering with a trust. What is the correct check box for question 2? Individual or Corporation or business entity. I'm thinking corporation or business entity. But a trust isnt really a business entity. Is this right?

2) Question 4i. "state why you intend to make firarm". I seem to remember that simply saying "all lawful purposes" works. What have you all used?

Thanks,

Don

[khc3]

A trust is a corp/legal entity, and not an individual.

I just put "for personal collection."

[dcmdon]

last question (probably not)

9 and 10
signature and name/title. I am a trustee on the trust, I'm assuming I should sign it as a trustee. Or should I sign as settlor?

[khc3]

The trustee is the "officer" of the trust, right? The "settlor" is the trust originator?

I would put "trustee," but I'm just guessing here.

[CarlosDJackal]

How I have done both of my Form 1s and all three Form 4s.

1) Carlos D. Jackal Revocable Living Trust
123 Anywhere Street
Anytown, ST 12345-6789

2) For collection, investment, and other legal reasons.

3) Carlos D. Jackal, Trustee

[khc3]

How I have done both of my Form 1s and all three Form 4s.

1) Carlos D. Jackal Revocable Living Trust
123 Anywhere Street
Anytown, ST 12345-6789

2) For collection, investment, and other legal reasons.

3) Carlos D. Jackal, Trustee

Just curious, why do you put "investment?"

[Kaos]

Just curious, why do you put "investment?"

Because if SBR's get the axe like MG's did, it would be an investment as the value would rise exponentially almost right away.

[khc3]

If transfers ae banned, they'd be worth almost nothing.

Anyway, selling guns for profit could be construed as activity that requires a FFL.

Buying and selling guns to enhance a personal collection, though, is explicitly allowed in the law for non-licensees.

I just don't know why anyone would put that on their form.

[dcmdon]

I also sent this question to a friend who is very NFA savvy.

His response was "To add to my collection". and he's never had a problem.

[Iraqgunz]

To each his own. I have seen lots of forms done that way. And what Kaos said makes sense. MG's got the import/ manufacturing axe, not a transfer axe. I remember when you could buy full-auto for a reasonable price. Not anymore. Then again it's all speculation. My form actually read; Investment and Collection Purposes.

If transfers ae banned, they'd be worth almost nothing.

Anyway, selling guns for profit could be construed as activity that requires a FFL.

Buying and selling guns to enhance a personal collection, though, is explicitly allowed in the law for non-licensees.

I just don't know why anyone would put that on their form.