United States -(AmmoLand.com)- The Department of Justice started the New Year with a January 4, 2016 long awaited final ruling amending the BATF’s rules for NFA Firearms Trusts.
The new federal regulations will go into effect in 180 days, being approximately June 29, 2016, so ACT NOW TO TAKE ADVANTAGE OF THE CURRENT RULES!
The new regulations will amend the BATF’s Form 1 (for making a NFA firearm such as a SBR) and Form 4 (for acquiring a NFA device such as a suppressor) to require an FBI fingerprint card and a 2″x2″ current photo for each “Responsible Persons” listed on a Trust, Partnership, Corporation, or other Entity applicant.
“Responsible Persons” is very broadly defined to include “any grantor, trustee, beneficiary, partner, member, officer, director, board member, owner, shareholder or manager who possesses, directly or indirectly, the power or authority under any trust instrument, contract, agreement, article, certificate, bylaw, or instrument or under State law, to receive, possess, ship, transport, deliver, transfer or otherwise dispose of a firearm for, or on behalf of, the trust or entity.”
Reports that the new regulation will NOT apply to trust “beneficiaries” are wrong, because the new regulations specifically include “beneficiaries,” unless there is specific language in your Trust Document that conforms to the language of the new regulations. NFA Firearms Trust’s trust document has already anticipated this rule change, which was first published in 2013, so its document fully conforms to protect “beneficiaries.”
The only good news is that the current Chief Law Enforcement Officer (“CLEO”) approval requirement has been eliminated and downgraded into a notification provision, requiring each applicant to simply send a completed copy of the Form 1 or 4 to their CLEO.
There are some additional minor requirements and fully published new regulations are almost 250 pages long, so it will take a while for the Gun Lawyers to all carefully review this and report further.
The first clear and immediate “take away” is that NOW IS THE TIME TO ACT if you have been planning on creating a NFA Firearms Trust for making or acquiring a SBR or Suppressor.
NFAFirearmsTrust.com will be carefully reviewing this new federal regulation and amending its NFAFirearmsTrust document to fully comply with this new regulation prior to June 28.
NFA Firearms Trust will also be making its amendments and its new trust document available to all of of its current customers as an additional benefit.
Please do not hesitate to call or email if you have any additional questions. My direct dial number is 404-364-2245.
Jim & Matt
NFAFirearmsTrust.com
I am so glad i got all my NFA items too, I have one in the works now, an if evry thing gos well should get an approval in july
There is a great deal of misinformation in this article. Honestly, based on this I would steer clear of these guys. Reg. ATF 41-F has an effective date of July 13th, 2016, not June 28th for instance. https://www.federalregister.gov/articles/2016/01/15/2016-00192/machineguns-destructive-devices-and-certain-other-firearms-background-checks-for-responsible-persons
Al You are right on the hype and nonsense is just that….. All the energy about this is to sell more silencers right now. the final approval is up to the Congress and with the most recent Obama “recommendations” I doubt that the proposed “guidelines” are going to pass muster with the Congress This basically guts the entire trust process The whole 2 purposes for the trusts were to eliminate the hassle of finger printing and the allowance to use by non-owners of the NFA device With the new “guidelines” the use of a gun trust is all but useless… Read more »
First the author is wrong. These are not regulations. These are a guidance. A such they are in a review period until such time comments are made. The review period is 30-90 days. Also, congress is aware of these and anything that is not a restatement or clarification of current law or regulations will be dealt with. Next, the ATF or BATFE as they like to be called, must present for review any changes to congressional oversight committees. These were not done in that manner. All this comes from my brother who is a lobbyist for the NRA in D.C.… Read more »
If responsible persons of legal entities need to be finger printed then corporations need it also, finger print all those corporate people that make NFA items daily.
Trust already in effect are grandfathered ! This all might be a mute point anyway when these illegal actions are overturned !
Sean Cody charged me $450 to set up my trust in 2010. Trust have really gone down since then.Check out Silencer Shop for a great price on a NFA Gun Trust !
Terry,
See the attached video – it’s a little long . Sean Cody is my trust lawyer and answers most questions in the video.
https://youtu.be/FWxEO882144
Terry, that all depends upon who gets elected.
Will this be retro active to all in my trust (“Responsible Persons” ) will have to get the finger prints done? My wife, kids, and so on?
I got my gun trust in 2010 ! I got everything that I wanted as far as NFA items are concerned. I might get one more silencer just for grins. I knew this was coming.