View Full Version : NFA Question
dirkmagurk
04-24-22, 17:16
I’m curious if most of you registering NFA items do so using a trust or file as an individual? I’m about to SBR a couple more lowers and have always done it as an individual but am considering starting a trust.
lonestardiver
04-24-22, 18:00
Everything I have is in a trust. I have several trusts so I can select which goes where.
Have both.
And there is a whole section here on NFA to read through. Just scroll down the main menu.
OutofBatt3ry
04-24-22, 18:53
Individual means sell or die with it.
Trust = someone else (on the trust) gets it.
Very oversimplified.
Individual means sell or die with it.
Trust = someone else (on the trust) gets it.
Very oversimplified.
No, individual means cant share.
Both methods allow for tax free xfer to on death.
I do trust. My ex could use the stuff. She came off with divorce, added a friend, and can add a future wife...
Basically my wife can access my equipment if necesarry and its all legal.
Everything I have is in a trust. I have several trusts so I can select which goes where.
That is a thought I've never had. I love it.
lonestardiver
04-25-22, 11:56
That is a thought I've never had. I love it.
The SilencerShop single shot trusts are individualized to a single item. Thus I have several so I can add a specific individual as a beneficiary or trustee thus determining what goes where.
I went individual for mine. I'm not worried about sharing. I had a friend once. He left.
OutofBatt3ry
04-27-22, 19:49
No, individual means cant share.
Both methods allow for tax free xfer to on death.
Thanks for the clarification =)
(some dude at the LGS explained it to me that way...my bad)
Lmao. Can’t share? Why? Who is going to stop you?
Lmao. Can’t share? Why? Who is going to stop you?
Share means "have". My friend can have my (our?) Machinegun whithin this state legally because he's part of the trust. Even if Im away. That could/would lead to legal issues if on an individual.
Even as an individual, others can use it, as long as youre there.
Share means "have". My friend can have my (our?) Machinegun whithin this state legally because he's part of the trust. Even if Im away. That could/would lead to legal issues if on an individual.
Even as an individual, others can use it, as long as youre there.
I know man, I was being sarcastic. No one cares, except law abiding citizens. Not even the .gov, sans that one case someone’s brother’s cousin happened to.
I’m curious if most of you registering NFA items do so using a trust or file as an individual? I’m about to SBR a couple more lowers and have always done it as an individual but am considering starting a trust.
Trusts were in vogue when local CLEOs wouldn't sign Form 4s but now that the LEO certification has been removed they have less advantage. I know people worry about constructive possession but I think it's mostly a zero concern. People also worry that one day they may not be able to Form 5 their stuff to their family, but if ATF ends lawful transfer via Form 5 you can bet they won't leave legal trusts in place as an end run.
That said, if you already have a trust in place, I can't see a disadvantage to keeping it.
gunnerblue
05-12-22, 10:57
I’m curious if most of you registering NFA items do so using a trust or file as an individual? I’m about to SBR a couple more lowers and have always done it as an individual but am considering starting a trust.
I wouldn't bother with setting up a trust now as most of the advantages are gone. Since I had already set one up years ago, I'll continue to use mine but if I were you I'd just continue on as an individual.
I think the main advantage to a trust, as has already been said here, is that you can legally share your NFA items with friends and family. There is also the advantage in transferring items to family upon death without a Form 5. Outside of those two, there's also the same advantage offered in keeping any asset in trust, which is that it protects the item from financial liability.
Being that trusts are essentially free, I don't really see the disadvantage to keeping NFA items, and other property, in a trust. Am I missing something?
gunnerblue
05-12-22, 11:41
I think the main advantage to a trust, as has already been said here, is that you can legally share your NFA items with friends and family. There is also the advantage in transferring items to family upon death without a Form 5. Outside of those two, there's also the same advantage offered in keeping any asset in trust, which is that it protects the item from financial liability.
Being that trusts are essentially free, I don't really see the disadvantage to keeping NFA items, and other property, in a trust. Am I missing something?
There's not really any disadvantages, there just aren't as many advantages as there used to be to bother with setting up a trust. Mine cost $100 and I had to bother with getting it notarized so I wouldn't say that it was free.
Personally, I didn't buy any of my NFA items to share with so I don't see that advantage.
There's not really any disadvantages, there just aren't as many advantages as there used to be to bother with setting up a trust. Mine cost $100 and I had to bother with getting it notarized so I wouldn't say that it was free.
Personally, I didn't buy any of my NFA items to share with so I don't see that advantage.
Yeah, I paid for mine too. But you really can download them for free online and just fill in the blanks. As to the notarization: that's definitely the biggest pain about getting a trust. Agreed that the sharing aspect of a trust is a pretty slim advantage to many folks, but for me it gives me some peace of mind in allowing my kids to use my items outside of my presence.
titsonritz
05-12-22, 13:33
If only there were an NFA forum for these types of topics. :secret:
If only there were an NFA forum for these types of topics. :secret:
You know what would be even better than an NFA forum, if .gov was made to understand what “shall not be infringed” ****ing means.
Sent from my iPad using Tapatalk
There's not really any disadvantages, there just aren't as many advantages as there used to be to bother with setting up a trust.
I've always done my NFA items as an individual because I didn't have a CLEO that wouldn't signoff. I actually have a coworker who was told at a gun shop that you have to have a trust in order to own an NFA item. He was convinced of it. Only the fact that I owned several without a trust changed his mind.
Personally, I didn't buy any of my NFA items to share with so I don't see that advantage.
I agree. I don't want anyone touching my guns while I'm not there. A disadvantage of a trust is that you're on parity with others. They can sell items in a trust just like you can.
john armond
05-20-22, 18:10
I've always done my NFA items as an individual because I didn't have a CLEO that wouldn't signoff. I actually have a coworker who was told at a gun shop that you have to have a trust in order to own an NFA item. He was convinced of it. Only the fact that I owned several without a trust changed his mind.
I agree. I don't want anyone touching my guns while I'm not there. A disadvantage of a trust is that you're on parity with others. They can sell items in a trust just like you can.
I have my wife on my trust. I was in a bad car accident a year ago literally days before we were supposed to move. I was going to be in the hospital for a while, so my wife had some of our friends come over to move all the guns. They made the guns temporarily non-NFA, for lack of a better term, by separating the uppers on the ARs and the barrels on the shotguns. One guy took the receivers in one car and one the uppers/barrels in another car. They gave the suppressors to my wife to take. Now the chances of anything LEO related were slim, but this was a legal way to move everything.
ETA: My wife could look in the safe and not tell you what anything is, and has no idea what the NFA is. When I told her I was putting her on the trust, she said “I guess I own a gun now.” I’m not worried about her selling anything. Of course she also drove around with a couple suppressors in her glovebox the entire time I was in the hospital and rehab simply because she didn’t know any better, so there’s that.
ETA: In case anyone is wondering, I found the section that states that removing the NFA “feature” renders the NFA item no longer NFA:
"Section 2.5 Removal of firearms from the scope of the NFA by modification/elimination of
components.
Firearms, except machineguns and silencers, that are subject to the NFA fall within the various
definitions due to specific features. If the particular feature that causes a firearm to be regulated by the
NFA is eliminated or modified, the resulting weapon is no longer an NFA weapon."
john armond
05-20-22, 18:55
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