Transfer into a Trust

[mac37]

I did a search but did not come up with an answer.

If I already own a NFA item on a form 1 or 4 [in my name] and want to transfer it into my family trust, do I pay another $200 for each item? And, I would use a form 4?

Thanks for any help.

[markm]

Damn! I think you'd have to F4 it.

Why would you want to do this? I guess if you're talking about expensive machine guns the $200 is negligible, but still.

I look at the whole thing like this... I just want to have some damned document to show to the man if I have to. I don't care if it's a trust, a Shcmust or whatever. Just give me the stamp and leave me alone.

[DrBaker]

All of my F1 and F4 are in my trust. You would have to pay $200 for the new owner (the trust) to be transferred the item. The only exception, I think, would be if you die first. That may still require the fee, I'm not positive.

[dbrowne1]

The law generally views a legal entity as a separate "person" - that includes a trust, a corporation, a LLC, etc.

So if you are transferring a NFA item that you own personally to that entity then yes, that is a separate taxable transfer from you (person A) to the entity (person B) - you would have to do a Form 4, pay the $200, wait the 2 or more months for it to be processed, etc.

I know it seems bizarre and arbitrary especially if you are the sole owner/officer/trustee in the entity, but you have to do it if you want the trust to be the owner.

[SC-Texas]

Why would you do this transfer?

The ATF has now decided that items do not transfer out of a trust on a form 5.

Leave it where it is and it will go to an heir on a form 5

[mac37]

Everyone, thank you for the info.