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NFA Questions Answered

Mike Grasso Feb 11, 2015

  1. falcon125

    falcon125 the express train to mayhem Brigade Member

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    Great information

    Thanks Mike
     
  2. Tom700

    Tom700 Little member

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    I have a questions...

    I see that silencerco has NFA trusts available, I don't understand what it actually is. there trusts are $140 i believe so do i just buy the trust and i am able to purchase a suppressor? also are the trusts they have only for suppressors.

    Here is the link to the trusts they have.
    https://www.silencerco.com/nfa-trust/

    Thanks,
    Tom
     
  3. Mike Grasso

    Mike Grasso "to protect and to serve" Super Moderator Brigade Member

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    If you check above you will see the advantages of a trust.
    Remember that all a trust does is assist you in purchasing and retaining a NFA item for your lifetime and beyond.

    Per their ad...

    FACT: An NFA Gun Trust is the best way to purchase silencers and other NFA-regulated items.

    A properly-prepared gun trust has significant advantages for gun owners.
    It enables the use of NFA-regulated firearms and accessories among trustees, protects against potential future regulatory restrictions, and provides for the orderly transition of ownership upon death.
    It also tends to speed up the process for obtaining NFA items, eliminating the need for a Chief Law Enforcement Officer’s signature, fingerprints cards, etc.


    The EasyTrust is 50-state legal. The process of ratification will differ by state, but we’ll send you a document detailing the processes you’ll need to follow.
    We priced the EasyTrust at $129.99 – a fraction of the cost of typical gun trusts – to make it accessible to everyone.
    Reject the idea that a trust is a luxury item. In reality, it’s a must-have for anyone looking to #FightTheNoise. All EasyTrust sales are final.
     
  4. Tom700

    Tom700 Little member

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    Alright, Thank you
     
  5. D2AP

    D2AP Better than gold or platinum

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    I want to get a gun trust, but I think you have to be 21 and I'm not quite there yet. I'll be 21 next year.
     
  6. TopHat

    TopHat Drivin' that train..... Brigade Member

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    Mike, any update on the attempts by BATF to close the trust "loophole"? I heard they were trying to get rid of that provision but haven't really seen any updates in quite some time.


    The biggest "pro" for the trust is no CLEO sign off required. Even in states that are generally considered to be gun-friendly, when one is looking to purchase a full auto or select fire firearm and you reside in a major metropolitan area, the forms tend to sit on the CLEO's desk and accumulate dust....
     
  7. Mike Grasso

    Mike Grasso "to protect and to serve" Super Moderator Brigade Member

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    Haven't heard anything lately.
     
  8. BenDibble

    BenDibble Resident Mortician JDBA Official Member Brigade Member

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    This is an issue I have seen pop up quite a lot. In the past, people were able to abbreviate "revocable living trust" as "RLT" but not anymore. Whatever name you choose as your trust name is the name which is to be inscribed on your firearm. So choose wisely.

    But as a reminder, this is only applicable to those who build a NFA item off of a Form 1. If you form a trust to purchase an already assembled and "in the system" item on a Form 4, nothing new should ever be etched into the firearm.

    As for engravers, they are becoming a lot more common now, but if you need suggestions, I have a few very trusted businesses which I have worked with. First is Orion Arms http://www.orion-arms.com/
    And second is Atomic Tactical Inc. http://www.atomictactical.com/. And both are actually fairly local to my location.
     
  9. taoist

    taoist taoist JDBA Official Member

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    Looking around on the web I find several sites offering DIY NFA Trust setup but most have disclaimers about not being a substitute for an attorney. Is an attorney needed and if so what would the possible reasons be?
     
  10. Mike Grasso

    Mike Grasso "to protect and to serve" Super Moderator Brigade Member

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    The main reasons are:
    Liability, no one these days wants to be liable for their own work.
    Trust law varies State to State. You need to make sure it's appropriate for your jurisdiction.
     
  11. taoist

    taoist taoist JDBA Official Member

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    Thank you.
     
  12. BenDibble

    BenDibble Resident Mortician JDBA Official Member Brigade Member

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    ok, working on adding to my stamp collection, but have a questions.

    With my trust, I already have my first SBR on the assignment list. And of course all of the pages were signed and witnessed on the trust form.

    Question is: do i need to re-do the trust and have everything resigned prior to submitting? Or do i just add in an updated assignment sheet that has been newly signed and witnessed?

    I have found zero answers to this question in the greater world.

    Thanks!
     
  13. TheBadGuy

    TheBadGuy NATURE'S FINEST Super Moderator

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    I just wanted to pop in and say thanks for all the info. I submitted my form 1 electronically on Friday for my first SBR. I ended up creating a second trust just for SBRs since I was so unhappy with the length of my silencer trust's name. Now just the wait, which shouldn't be too bad. My last silencer came in last Saturday, a Silencerco Osprey and the wait from paperwork in the mail to stamp in hand was 3 months 10 days. A stark difference from the 9.5 months for my last one.

    Ben,

    I am by no means an expert and someone who actually knows will likely come along and give you the reason answer but I will say that I have ready that there are two different methods of adding stuff to a trust. A Schedule A which my trust has, has a list of all items in the trust. This is a part of the trust and must be submitted as part of it. I read that the benefit of an assignment list is that is not a required part of the trust that you must submit. People were saying that the assignment sheet method was the preferred method as you do not have to have a list of all your NFA goodies attached to your submission (As if they don't know lol). Mike will be along to tell you the right answer but I thought I'd mention what I read.

    Thanks again
    Jason
     
    BenDibble likes this.
  14. BenDibble

    BenDibble Resident Mortician JDBA Official Member Brigade Member

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    OK, I feel I got an adequate answer to "my" situation. I say "my" situation because everyone will have a different case.

    But with my trust, I do not have "schedules" written into the wording, so I will only need to complete a new "assignment" form and send that in along with the original trust form.

    And being an assignment of a pre-existening and owned firearm, I only submit this form stating only this firearm is being added to my trust. There is no need for the trust to be resigned and dated, aside from this new assignment sheet.

    I will state again, because my trust does not specifically mention "schedules", I have found this to be the proper course.

    I will of course update should I encounter any problems.

    Anyone else have any weigh in on this matter?
     
  15. Mike Grasso

    Mike Grasso "to protect and to serve" Super Moderator Brigade Member

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    I did mine with a Schedule A - It's what was recommended.
    I keep it updated and as part of the trust it makes it very straightforward in the event of a death.
    You can always update your Trust to the correct wording.
    Then have it notarized and use the schedule.

    Here is the basic language...

    I. Declaration of Trust
    Michael Grasso shall be called the grantor, declare that they have transferred and delivered to the trustee all his interest in the property described in Schedule A attached to this Declaration of Trust. All of that property is called trust “property.” The trustee hereby acknowledges receipt of the trust property and agree to hold the trust property in trust, according to this Declaration of Trust.
    The grantor may add property to the trust.
    II. Definition of this Document
    The term “this Declaration of Trust: shall include any provisions added by valid amendment.
    III. Identity of Trust Property.
    While the grantor is alive, property held in this trust shall retain its original character as community or separate property, as the case may be.
    If the trust is revoked, the trustee shall distribute the trust property listed on Schedule A to the grantor as his community property.
     
    BenDibble likes this.
  16. BenDibble

    BenDibble Resident Mortician JDBA Official Member Brigade Member

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    Form 1 submitted April 1. Will report when I hear back.
     
  17. CDR_Glock

    CDR_Glock Bali Demon JDBA Official Member Brigade Member

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    I just established my NFA Trust.

    i would like to get suppressors for my 45 ACP, 22LR and possibly, my 5.56mm.

    i am overwhelmed by the different technology available. Is there a site or list of resources that I can refer for choosing the proper equipment? Do you recommend online buying or just going to a store that specializes in the suppressors (we have a store in town that deals with all of the NFA items)?
     
  18. voimakas

    voimakas JDBA4L JDBA Official Member

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    I like YouTube for can reviews, especially fireman1291.

    I like the Silencerco Sparrow for a .22 can. Quiet, easy to clean, and can take any rimfire and even 5.7 (PS90). First round pop isn't too bad either.
     
    CDR_Glock likes this.
  19. Mike Grasso

    Mike Grasso "to protect and to serve" Super Moderator Brigade Member

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    If you buy online, it will be transferred locally (2+ months for paperwork),
    You buy locally, in stock, then you only wait for your transfer.
    Weigh the price difference.

    Google the caliber or ask the specific question here...
     
  20. TheBadGuy

    TheBadGuy NATURE'S FINEST Super Moderator

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    Yeah I order everything online but when it comes to silencers, I try to find one in stock locally. The wait is bad enough with the ATF on your form 4 but to wait 8 weeks on a form 3 just to get it in at the dealer to start your 4+ month wait is not worth it to me.

    I should be getting back my first form 1 in the next week or two. This Friday is week 7. I plan on getting another can or two in the near future. I think I am going to go with a Spectre II as my second .22 can (I have a Sparrow now but want a second one so son and I can shoot at same time) and I wanted to eventually get a dedicated 556 can and 9 mm can. I will likely go with a YHM Phantom M2 QD can for the 556 since I have a couple 5.56 that already have the mount installed for my Ti. .30 cal can. And I am thinking either an Octane or a TiRant for my dedicated 9 mm can. I also eventually want to SBR my PS90.

    NFA stuff is addicting and the tax stamps are accumulating. I wish you could claim them as paid taxes on your tax return, thats for sure.
     

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