Form 1 on privately bought lower [Archive]

Tactical Wobble

01-29-15, 12:21

Did a quick search and it didn't yield anything. I just started my trust and about to embark on the NFA journey but had a question about sending in the form 1. I purchased a lower privately several years back and wanted to form 1 it now. Will there be an issue being that its not registered to me? and with the passing of 594 here in WA, would I have to jump through other hoops to successfully form 1 the lower?

Thanks in advanced!

markm

01-29-15, 12:33

No. I've registered a lower that I bought from a buddy.

Tactical Wobble

01-29-15, 17:18

thanks man, ive filed the form! hopefully ill get an approval soon!

CRAMBONE

01-30-15, 04:17

Did you EFile?

Pilot1

01-30-15, 04:23

Are you having an attorney do your trust, or are you doing it yourself? I am getting ready, and trying to decide.

223to45

01-30-15, 13:27

Did a quick search and it didn't yield anything. I just started my trust and about to embark on the NFA journey but had a question about sending in the form 1. I purchased a lower privately several years back and wanted to form 1 it now. Will there be an issue being that its not registered to me? and with the passing of 594 here in WA, would I have to jump through other hoops to successfully form 1 the lower?

Thanks in advanced!

First there is no such thing as " registered to you " in WA for receivers, or longs guns. Or handguns bought privately before I594.

You are fine , I594 doesn't change any thing.

nova3930

01-30-15, 13:47

Are you having an attorney do your trust, or are you doing it yourself? I am getting ready, and trying to decide.

Given the consequences of getting the trust wrong, I tend to recommend the attorney. Cheap insurance IMO...

murphman

01-30-15, 14:32

Are you having an attorney do your trust, or are you doing it yourself? I am getting ready, and trying to decide.

It may not be a trust tailored to your specific wants and needs but Silencer Shop offers a more universal trust that was specifically written up for them by a lawyer that you can purchase from them. It is very simple to set up and inexpensive, Silencer Shop is very reputable and I would recommend this as an option if a tailored Trust is not desired.

markm

01-30-15, 14:52

I agree. If it's just for NFA stuff and not Life planning, a plain old pre formatted trust isn't a problem.

BigWaylon

01-30-15, 15:00

I paid a lawyer. If I had to do it over, not sure I would.

I've never used this one, but I liked the info a guy posted sometime in the last day or two on a different site (the link at the top is active):

Originally Posted By Tophatman:
Try this one - NFA Trust (http://www.doityourselfdocuments.com/Estateplanning/Trust/nfaTrust.aspx)

Don't overthink a trust and don't spend hundreds on it. Although it doesn't mean much since the ATF doesn't vet your trust, they just log that you have one, but the above has worked for multiple commercial and F1 tax stamps.

It has all the NFA specific language you could ask for in a trust and covers all the bullet points that trust lawyers say is needed.

YMMV of course but it's honestly worth the $30-$40 risk to get a copy and go through it.

I will STRONGLY recommend you do not use their sample trust name as your trust. Get rid of the words THE and FIREARMS if nothing else. If you ever F1 something you'll be much happier with something like "Smith NFA Trust" or just "Smith Trust". Or heck "No Trust"

Edit -

It allows for as many trustees as you like, it's revocable, it includes the documents you need to add or boot anyone, your schedule a and revised schedule a, it covers what to do if someone int he trust is no longer legally able to participate. There's a nice letter to give to your bank for the purposes of opening an account for the trust. Or how long to wait till they're declared no longer a participant if they disappear without a trace. It lets you assign beneficiaries if everyone dies in a plane wreck and dictates that contents of the trust be held in governorship for those dependents until such a time as they're of legal age to take ownership etc. A sample is completely filled out along with sample copies of the F1 and F4 atf forms.

SteveL

01-30-15, 16:58

I paid a lawyer. If I had to do it over, not sure I would.

I've never used this one, but I liked the info a guy posted sometime in the last day or two on a different site (the link at the top is active):

That's the one I used. IIRC when I bought it, it was on sale for $26 or so. It has served its purpose so far with no trouble. Note that my needs when setting up a trust are about as simple as they get.

Tactical Wobble

01-31-15, 01:02

Did you EFile?

Yes I did efile! I hear the wait times are low.

Are you having an attorney do your trust, or are you doing it yourself? I am getting ready, and trying to decide.

I obtained one from a firm that specializes in NFA trust. Think gundocx or something like that. I know some shops might have a trust they got their lawyers to write up for those wanting to buy NFA items, so ask around might save you some money and be covered. I wouldn't trust myself to write one, could barely type up directions let alone a legal document.

First there is no such thing as " registered to you " in WA for receivers, or longs guns. Or handguns bought privately before I594.

You are fine , I594 doesn't change any thing.
Thanks dude, just had it filed! just need to decide on what upper now. Hahahaha

Pilot1

01-31-15, 03:32

Thanks guys. I think I am going to use one of the "fill in the blank" services listed above.