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The Proposed Change to the ATF’s Handling of Trusts and Corporations
In case you might not have heard, the ATF proposed to change their rules in how they handle Title II (Class 3) firearms such as short-barreled rifles, automatic weapons, suppressors, etc. You can check out the ATF’s proposalhere. In a nutshell, if you want to purchase a NFA item, you would need to submit photographs, fingerprints, and you must obtain approval from your Chief Law Enforcement Officer (CLEO). If you are able to gather the required items, you then submit a Form 1 or Form 4 to the ATF along with a check for $200 and wait 6-12 months for the approval and tax stamp. There is another way. You can form a corporation or create a trust and eliminate the requirement for fingerprints and CLEO approval. Also, one of the mentioned entities allows you to appoint principles (trustee, co-owner, employee, etc) and then that appointed person could also handle and use your NFA item. Currently, if you obtain a NFA item on your own than you are the only person legally allowed to possess it and use it. It doesn’t make a whole lot of sense.
So, the good people at the ATF have decided to change their rules. They have proposed to require every single person with a principle purpose in the corporation or trust to submit to CLEO approval, fingerprints, photographs, and a background check. This doesn’t make any logical sense, however it may be coming down the pipeline. The comment period ends December 8th, 2013.
The first step is to educate yourself so please find the below links for your reference and review. This is developing and I will update my site periodically to bring you the latest and to advise what steps you can take to protect yourself, your property, and your rights.
NFA Firearms Collectors Group Initiated ATF Gun Trust Rule Change
What Last Week’s “Executive Action” on NFA Trust and Corporate Transfers Means To You