PDA

View Full Version : NFA Newb Question


huntsimp
08-13-10, 23:08
I plan on starting a stamp collection and would like some advice. I do not have a trust, but I plan on obtaining one in the not so distant future. GunTrustLawyer.com has a trust for $600...

I was wondering if I should purchase already SBR'd lowers rather than having them engraved with my Name City State because of any issue transferring them to a trust once I have obtained one.

Any help would be appreciated.
Iraqgunz
08-14-10, 04:49
Have you read through any of the NFA stuff here or anywhere else? If you purchase a lower or an SBR that is already listed in the NFA registry you do not need to engrave anything-the same with a suppressor or any other item. The engraving applies when you manufacture an item- such as building a registering an SBR on a Form 1.


I plan on starting a stamp collection and would like some advice. I do not have a trust, but I plan on obtaining one in the not so distant future. GunTrustLawyer.com has a trust for $600...

I was wondering if I should purchase already SBR'd lowers rather than having them engraved with my Name City State because of any issue transferring them to a trust once I have obtained one.

Any help would be appreciated.
huntsimp
08-14-10, 11:05
I know generally how the processes work. Although I appreciate your answer, that does not address my question.

The main question is: how much of a pain is it to re-register an NFA under a trust once it's been registered under an individual?
exkc135driver
08-14-10, 11:15
I know generally how the processes work. Although I appreciate your answer, that does not address my question.

The main question is: how much of a pain is it to re-register an NFA under a trust once it's been registered under an individual?

$200 and a Form 4.
huntsimp
08-14-10, 11:26
So I would have to pay the tax all over again?
Dolphinvet
08-14-10, 11:48
So I would have to pay the tax all over again?

If you're going to a trust on a weapon and it's on an individual right now? Yes, you need to pay the tax all over again. Sucks, doesn't it? The only bonus is that you don't have to have the weapon held somewhere else while you wait for the new form 4 approval.
J Krammes
08-14-10, 12:03
Transferring to a trust is just like transferring to another person. $200 each time. Also, in my opinion paying $600 for a trust is insane. Their scare tactics are what makes people think they need a "Gun Trust". Talk to a local lawyer if you don't want to use Quicken. A lawyer in my area (who knows about the gun trust guys) said he would do one for $50. He even said that most lawyers just use a computer program and have their secretaries write it up...

J
huntsimp
08-14-10, 13:12
Thanks for the good reply Krammes.
Iraqgunz
08-14-10, 16:11
Your wording had me slightly confused. If you are going to purchase an item I would just start out with the trust to begin with. I agree with Krammes as well.



I know generally how the processes work. Although I appreciate your answer, that does not address my question.

The main question is: how much of a pain is it to re-register an NFA under a trust once it's been registered under an individual?
huntsimp
08-14-10, 16:22
I apologize. I attempted to edit it, but I guess it didn't go through?


Thanks for the input guys, I appreciate it.