Advice on a Title II/NFA Trust

[iamhunter]

Alright guys, so I've been toying around with the idea of setting up a trust for the purpose of purchasing and maintaining Title II weapons/accessories.

From what I understand, all I need to do is set up the trust (luckily I have an attorney friend who specializes in trusts), go down to the nearest class III dealer, "purchase" the item, get the required paper work, send in said paperwork to the BATFE with the required $200 tax, wait for the tax stamp to come back, and pick up my item.

Anyone have any first hand experience with this?

Does the firearm have to remain at a given location, or can I move it around with me (within state lines)?

Any info would be appreciated, the entire process is somewhat intimidating.

[Great-Kazoo]

until you get your approval it stays at the dealers. once you get the stamp you can take a suppressor anywhere (it is legal) in the states. A NFA firearm must have prior ATF approval before crossing state lines.

[iamhunter]

until you get your approval it stays at the dealers. once you get the stamp you can take a suppressor anywhere (it is legal) in the states. A NFA firearm must have prior ATF approval before crossing state lines.

And how does the transport of an NFA firearm work?

I get ATF approval, and then is that for a one time move, forever, or what?

[Circuits]

You file a Form 5320.20. It's good for the period specified on it when you file it, maximum of one year - so "April 1, 2010" through "March 31, 2011".

The .20 has to state where, in general, you will be transporting the items - e.g. "various ranges in Texas and Oklahoma for shooting competitions"

It can't be a catch-all, but can be pretty broad. I belive you can file multiple .20's for different locations, even if the times overlap.

[sniper7]

You file a Form 5320.20. It's good for the period specified on it when you file it, maximum of one year - so "April 1, 2010" through "March 31, 2011".

The .20 has to state where, in general, you will be transporting the items - e.g. "various ranges in Texas and Oklahoma for shooting competitions"

It can't be a catch-all, but can be pretty broad. I belive you can file multiple .20's for different locations, even if the times overlap.

what about the box that asks if the item will be returned to original location? I thought that was there for moves? (the 1 year timeline wouldn't apply)

[mrfish83]

With respect to transporting an NFA item, are there different laws that would apply for intrastate (within) travel since the item is NFA. Colorado for example. That is, do you have to comply with federal laws (locked container, ammo separate, etc), or would it be like any other firearm in a vehicle in Colorado?

[Circuits]

what about the box that asks if the item will be returned to original location? I thought that was there for moves? (the 1 year timeline wouldn't apply)

correct, time period doesn't apply for permanent moves

[sniper7]

for interstate travel of NFA there is a form you have to send in that gets approval from the ATF, you have to list locations and the timeframe the NFA items will be gone for.
If you move you can use the form to show a new address the NFA items will be located at.

[Akyla]

Alright guys, so I've been toying around with the idea of setting up a trust for the purpose of purchasing and maintaining Title II weapons/accessories.

From what I understand, all I need to do is set up the trust (luckily I have an attorney friend who specializes in trusts), go down to the nearest class III dealer, "purchase" the item, get the required paper work, send in said paperwork to the BATFE with the required $200 tax, wait for the tax stamp to come back, and pick up my item.

Anyone have any first hand experience with this?

Does the firearm have to remain at a given location, or can I move it around with me (within state lines)?

Any info would be appreciated, the entire process is somewhat intimidating.

I have also been planning to set one up. Has your attorney friend had any experience with NFA trusts before? I understand its a typical living trust, but I know a lot of people put NFA specific language in the trust document. Could you perhaps PM me his info? Thanks.