Assignment to the trust - when?

[DeusExMachina]

My point is when you make (Form 1) a suppressor you don't put "Metal tube" on your schedule A.

Adding a firearm to a trust before building (applying a Form 1) is extraneous. I didn't do it, twice.

[SAnd]

My point is when you make (Form 1) a suppressor you don't put "Metal tube" on your schedule A.

Adding a firearm to a trust before building (applying a Form 1) is extraneous. I didn't do it, twice.

Sorry, I misunderstood you. I didn't add my silencer to my Trust until I had received my approved Form 1 back and I had it completed enough to put a serial number on it.

[O2HeN2]

You folks do realize that moving a firearm to the trust is a transfer, and as such can't be done privately in Colorado as of July 1st, don't you?

What makes this really, really bad is the transfer to the trust is a legal document and probably has a date on it which would make an open and shut case against you.

Here in Colorado we don't have to wait for the ATF to require BG checks for everyone on the trust for every transfer, it's the law of the state right now.

Damn Morse.

O2

[SAnd]

I haven't added anything to my Trust in almost a year so I'm clear there. I find it kinda amusing in a disgusting way that I may be doing a background check on myself to transfer something from me to my Trust. I also figure if I acquire anything new-to-me for the Trust I'll just have the Trust buy it from the start.

I've also been trying to figure out if I have to do a background check on a firearm that is created by my Trust. For example if my Trust makes a silencer I'm thinking I'll have to go to my local friendly FFL to do a background check on me when I add it to the Trust inventory.

One other thing, we will have to wait for a CLEO sign off for all responsible persons if the new ATF Trust thing goes through, in addition to a state check.


Phooey! All this is giving me a headache.

[sako55]

This is my understanding as well. I bought a stripped lower and just sent the paperwork off for an sbr. Under the current CO laws I will have to perform a background check as my name, trustee to ABC trust to assign the lower to the trust. is this the way it goes? NFA trust guy this is directed to you as you are a lawyer and might have stayed at a Holy day inn

[NFATrustGuy]

The last time I stayed at a Holiday Inn was back in April (thank goodness--most of them suck) so that's not much help.

Yes, the way I read the law, you will have to do a background check on yourself as Trustee when you transfer a firearm to the Trust. From a legal standpoint, it's a separate entity. Stupid? Yes, but that's Colorado under the command of Bloom... I mean Hickenlooper.

The timing of the transfer is sensitive. When you submit a Form 1 in the name of the Trust, the approved application gives the Trust permission to build a particular lower into an SBR. The Trust needs to own the lower before it turns into an SBR, so you'll need to transfer it to the Trust and do a background check as required by Colorado law AND THEN build the SBR.

It sounded like someone in this thread threw in a twist of manufacturing a suppressor. This requires a little more care. Again, make sure the Form 1 is in the name of the Trust. The Trust builds a suppressor and then owns it until it's transferred to a new owner. The transfer to the new owner will require a Form 4. If you manufacture a suppressor in your own name -personally- it takes a full-blown Form 4 application to transfer it to the Trust.

Hope this answers the question.

Rod

[sako55]

Yes it does. It sounds like I should have purchased the lower under the trust. Is it okay to do the transfer now. I just sent the paperwork in this past week. God these laws #$@!@!@#$%^ blow. I own another lower and transferred it to the trust when I received the paperwork back from the ATF. Fudge. Do I need to send in an amended asset list. I am already at 9-12 months at this point going with the current wait times. I wish you had been around when I set up my trust originally.

THANKS A BUNSH FOR THE ADVICE.

[NFATrustGuy]

You're still OK to transfer the lower to the Trust after the Form 1 is approved. I've gone back and forth on this answer, but as long as the Trust owns the lower before it's converted to an SBR, you should be OK. The Form 1 MUST HAVE BEEN SUBMITTED IN THE NAME OF THE TRUST or you'll have to build the SBR personally and then do a Form 4 to transfer the completed SBR to the Trust.

In other words, as long as the lower is JUST a lower, it can be transferred to the Trust using only a background check. Once the lower is assembled as an SBR, then it's an NFA-regulated item and must be transferred via a Form 4 (and a background check under Colorado law). In order to build an SBR, the Trust building the SBR must own the lower to be converted. The Trust must also obtain approval from the ATF via a Form 1. Whether the Trust actually owns the lower BEFORE the Form 1 is approved shouldn't matter.

Clear as mud?

Sorry. I didn't write these laws, I'm just doing my best to unscramble them.

Rod

[sako55]

COOL. THAT IS HOW I UNDERSTAND IT TO BE AS WELL. THANKS YOU SIR. STARTED TO FREAK OUT A BIT. I JUST NEED TO DO A BACKGROUND CEHCK ON MYSELF WHEN I TRANSFER IT OVER.

[Great-Kazoo]

You folks do realize that moving a firearm to the trust is a transfer, and as such can't be done privately in Colorado as of July 1st, don't you?

What makes this really, really bad is the transfer to the trust is a legal document and probably has a date on it which would make an open and shut case against you.

Here in Colorado we don't have to wait for the ATF to require BG checks for everyone on the trust for every transfer, it's the law of the state right now.

Damn Morse.

O2

My trust was formed prior to 7/01/2013. Anything I owned was transferred prior to that date, be it a standard or NFA item. I'm sure those who had, or formed a trust prior to July, did aslo.