While the public perceives NFA weapons as dangerous Guncite.com reports that there have only been two murders since 1934 involving legally registered Machine Guns and one of those was by a police officer.
Annual Fees with NFA Gun Trust
Often I am asked if there are annual fees associated with a NFA Firearms trust. In most states, there is no registration of a Firearms trust and because it is revocable there are no tax returns or governmental fees associated with the yearly maintenance of the NFA trust. This is one of the major benefits of using a NFA trust over a Corporation or LLC to purchase class III firearms.
NFA Trust Formation
NFA TRUST FORMATION is a process of creating a Trust for the specific purpose of Purchasing Class III firearms and transferring Class III firearms. A NFA TRUST is specifically created to comply with the TItle II requirements in dealing with Class 3 firearms. Class 3 Firearms are items regulated by the National Firearms Act ( NFA) and are typically sound suppressors, silencers, short-barreled shotguns or shotguns, and machine guns.
Most NFA Trusts are formed to bypass a CLEO signature, but there are many additional advantages to purchasing class 3 firearms with a NFA Firearms Trust. These include dealing with issues of constructive possession, transfer of the assets upon death, and avoiding many of the improper purchases and transfers that contain criminal penalties.
NFA trusts are private, no one knows about them unless you disclose the information
Multiple people can be in possession or use the NFA class 3 firearms.
You can protect your spouse from potential criminal liability that is associated with individual ownership.
No CLEO sign off is required, no fingerprints
The time to acquire items is significantly reduced
Can I send the Certificate of Trust to the ATF with My Form 4?
If you send the certificate of Trust your application will be denied. You must send the full Firearms Trust with the Form 4
NFA Gun Trust and Fees.
There are no yearly state or federal filing fees associated with a NFA trust. We recommend opening a bank account at a bank that has no fees to keep the costs lower. If the Trustee and the Beneficiary are different people the trusts require an annual Accounting. – A listing of the assets and their values
How do I Purchase More Class III Firearms with My Trust
You may use your NFA Firearms/Gun Trust to purchase items in the future. Assuming you are in a state that allows the purchase of the items you desire, you may use your firearms trust to purchase additional items without creating a new trust.
You can purchase items this year, next year and in the future with a NFA trust as there are no limits to the number of items that the trust can contain or purchase.
Who will know about my NFA Firearms Trust
Only the ATF and those you choose to tell will know about your NFA Gun Trust. Like most revocable trusts they are not kept on file in most states so there is publicly available information on who created, manages, benefits from or what is contained in the trust.
What Needs to be sent in with my Form 4 to purchase a Class III Firearm?
When you fill out your form 4, a check for the fee, a copy of the full declaration of trust, and an assignment of the weapon should be sent in with the application.
Gun Owners of America T-Shirt
A NFA Gun Trust client of mine sent me this today and though some of you might enjoy it.
Updated 12/9/2008
After receiving many inquiries as to where this T-Shirt can be purchased I decided to search the web and found a link you can use.
German Light Panzer Machine Gun
I have decided to begin to show some of the more interesting NFA Firearms my clients have acquired or transferred using a Gun Trust. Below is a German Light Panzer Machine Gun.
If you have a unique class 3 items in your possession and would like us to post a picture of it, please Contact me.