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Thread: Question on Form 1's and Trusts

  1. #41
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    Quote Originally Posted by gotm4 View Post
    The Trust can own the rifle before it's a registered SBR. Just as it can own other property.
    Yes, it can but don't muddy the waters with that statement. My point was that you shouldn't take the time to fill out the docs to put the item into the Trust's ownership when it doesn't have to own the rifle that will be made into an SBR.

    Furthermore that item has to be removed when the SBR is approved as there is only one lower and it's an NFA item.

    Also this might answer Donr's question- I have the make, model, serial number and company that made my suppressor in the SchedA. Then when it came time to put the SBR in, I did the same thing. If you have that much information in the Schedule A, then it will be clear that you don't want the rifle in there first because you will have to change it once it gains NFA status.

  2. #42
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    Quote Originally Posted by davemcdonald View Post
    I listed my SBR on my schedule A that I sent in with my form 4 but the SBR did already exist and I had already paid for it so the Trust did actually own it. As we all know there is a difference between possession and ownership.
    Existed because it was a factory SBR? Makes sense. You'd fill out the document to make it owned by the trust and be done with it.

  3. #43
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    Also this might answer Donr's question- I have the make, model, serial number and company that made my suppressor in the SchedA. Then when it came time to put the SBR in, I did the same thing. If you have that much information in the Schedule A, then it will be clear that you don't want the rifle in there first because you will have to change it once it gains NFA status.

    It could be because I have all engraving(identifying marks) completed prior to submitting the form 1. I have nothing to change after I get the form1 back.
    Here is how they are listed:

    Identifying Marks Model Serial Number
    Colt/Acme RLT Skunkville FL AR15 LE123456
    Mossberg/Acme RLT Skunkville FL 590 1234567

    I've never seen anyone specify SBR/SBS/AOW on their schedule A. I'm not saying I'm correct, I've just not seen it and don't do it. The approved form 1 identifies what it is and in conjunction with the hard copy of the trust identifies ownership via the identifying marks and serial number.
    They've approved more than one, have multiple copies of the trust and each updated schedule A.

  4. #44
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    Quote Originally Posted by donr101395 View Post
    It could be because I have all engraving(identifying marks) completed prior to submitting the form 1. I have nothing to change after I get the form1 back.
    Here is how they are listed:

    Identifying Marks Model Serial Number
    Colt/Acme RLT Skunkville FL AR15 LE123456
    Mossberg/Acme RLT Skunkville FL 590 1234567

    I've never seen anyone specify SBR/SBS/AOW on their schedule A. I'm not saying I'm correct, I've just not seen it and don't do it. The approved form 1 identifies what it is and in conjunction with the hard copy of the trust identifies ownership via the identifying marks and serial number.
    They've approved more than one, have multiple copies of the trust and each updated schedule A.
    I guess you don't have to specify. That doesn't change the fact that it's silly to include a rifle that will be made into an NFA item later on.

    Maybe that's not the direction you were taking this anyway?

  5. #45
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    Quote Originally Posted by SuicideHz View Post
    I guess you don't have to specify. That doesn't change the fact that it's silly to include a rifle that will be made into an NFA item later on.

    Maybe that's not the direction you were taking this anyway?
    I believe either way if fine. I just add receivers to my trust that I will eventually build into an SBR or SBS. If they won't be used for NFA they don't go into the trust. I suppose it's just my way of keeping me focused on where I want to go with particular items.

  6. #46
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    So basically you add a rifle lower when you get one. If later on you make it into an SBR by registration through a Form1, you just leave that original rifle lower on the Schedule A?

  7. #47
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    Quote Originally Posted by SuicideHz View Post
    So basically you add a rifle lower when you get one. If later on you make it into an SBR by registration through a Form1, you just leave that original rifle lower on the Schedule A?
    Yes, but I only add them if I have them engraved with my trust info. If I engrave it, I've made the commitment to SBR or SBS it and I've found that it makes it easier for me when I get ready to build it. With my deployment/training schedule the last few years it can be difficult to be home long enough to get the form1 back before I'm out the door again.

  8. #48
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    Quote Originally Posted by SuicideHz View Post
    Existed because it was a factory SBR? Makes sense. You'd fill out the document to make it owned by the trust and be done with it.

    Yes. My SBR is a factory built and registered LMT 10.5 complete weapon on a form 4.

  9. #49
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    Quote Originally Posted by donr101395 View Post
    Yes, but I only add them if I have them engraved with my trust info. If I engrave it, I've made the commitment to SBR or SBS it and I've found that it makes it easier for me when I get ready to build it. With my deployment/training schedule the last few years it can be difficult to be home long enough to get the form1 back before I'm out the door again.
    It's all technicalities basically but what you are saying is it's fine to enter the rifle as a rifle and then to never add the actual SBR. This is technically ok with you because you only enter the serial number of it on the Schedule A and not the make, model, manufacturer, etc.?

    From that standpoint I guess it is ok. Were you to include the other items I mentioned then you'd have conflicting info and have to remove one rifle and add one SBR.

    This is just a guess but I'm pretty sure you'd be best off adding as much detail as possible, no?

  10. #50
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    Quote Originally Posted by SuicideHz View Post
    It's all technicalities basically but what you are saying is it's fine to enter the rifle as a rifle and then to never add the actual SBR. This is technically ok with you because you only enter the serial number of it on the Schedule A and not the make, model, manufacturer, etc.?

    From that standpoint I guess it is ok. Were you to include the other items I mentioned then you'd have conflicting info and have to remove one rifle and add one SBR.

    This is just a guess but I'm pretty sure you'd be best off adding as much detail as possible, no?
    I never enter anything as far as saying it's a rifle, shotgun, SBS, SBR. I enter enough info so it's easily identified i.e. serial number. I also don't label it as manufacturer, I label it as identifying marks and then list the original manufacturer that is engraved on it as well as my trust markings that are engraved and the model number. If anyone has a question from looking at it, their question is answered by looking at the form 1 if it's built or looking at a non-built receiver. I keep the original approved form1's in page sleeves behind the trust in the same folder. The unbuilt receivers on the trust are kept in a single locked drawer in my workshop. When I get the urge to build one, I pull it out, fill out the form1 and associated paperwork and send the package in, when it's returned I order the upper or the parts to build the upper and build the receiver while I wait for the upper to arrive. If I have everything on hand for the lower I usually have the SBR/SBS completed within 3-5 days of receipt of the form1, depending on shipping times.

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