Selling an NFA trust and its assets.

[mattiooo]

I tried searching this topic here and nothing came up. In the future, I may move out of country to where almost all of my firearms are illegal. Should that come about, is it possible to sell a trust and all of the assets it owns? If so, what are the typical considerations for doing so?

If not, what options do I have should that situation come about?

[Monky]

You should probably PM NFAtrustguy..

[mattiooo]

Yep. He created my trust. Just figured I wasn't the first to encounter the need.

[Lurch]

That is a very interesting idea. I know people are trying to get around 41F by adding and subtracting trustees when they purchase new items. I wonder if you could add someone to your trust and then have them take you off?

I asked this question on another NFA board and basically you could add someone as a trustee but you as the grantor can't be removed. So the short answer is you will have to sell the items on a Form 4. I guess you could add them as a trustee and then transfer the items to them that way they could use them while you are gone. However both of you would have to have some serious trust in each other.

What toys do you have to sell?

[Circuits]

If you do so in order to transfer them to someone else without having to pay the transfer taxes, and ATF gets on to you, they'll probably charge you with tax evasion.

You can always put your NFA items in storage to which only you (or fellow trustees) have access, or add a trusted friend to your trust and leave the items with the friend.

[ClangClang]

I'd be happy to be your friend and be added to your trust. I'll keep your items secure for as long as you need

[Brian]

Talk to Rod, but I'm pretty sure the answer is that a trust is not a business and regardless of NFA assets, you can't sell one. As circuits mentioned, even if you come up with some weird scheme to collect cash, you're likely to be in it pretty deep if they catch on. Lots of cases out there where people tried to get creative with ATF/tax laws and got in serious trouble.

Good luck, hope you find an option out there that will work, one way or the other. If some are SBRs, you can disassemble and sell as title 1 guns + parts (separately), without the $200 tax. But be careful and read up on that too, just to be safe.