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  1. #11
    Varmiteer NFATrustGuy's Avatar
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    Aug 2012
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    OK. I step away from the computer for 2-3 hours and we've got 2 separate discussions going on in the same thread. You guys are good! :-)

    The certification of citizenship should not be required. However, as Mr. Kneecapper says, what's one more piece of paper? If even a single examiner thinks it's required, it's probably best to go ahead and send it in. It can't hurt anything and it could save you 2-3 weeks if you loose the game of examiner roulette. With this in mind, I will look into including this in my NFA Trust package.

    As for the Schedule A--That's a separate issue, but the whole deal of sending in a check from the Trust's checking account is new to me. The logic seems sound--having a checking account would tend to prove that the Trust is funded. Based on the same logic as applied above, I wouldn't suggest leaving out the Schedule A. Again, if one examiner believes in the checking account theory and the next one doesn't, you've lost 2-3 weeks over a single piece of paper.

    To answer the next inevitable question... NO, it is not necessary for the Trust to have its own checking account. The only thing that matters is that the Form 4 or the Form 1 is submitted in the Trust's name. The example I usually give is that it's like a parent buying a teenager a car. The car salesman and the DMV don't care who writes the check. Ownership is determined according to who's name is on the title work.

    Rod
    Last edited by NFATrustGuy; 03-27-2013 at 18:21.
    No longer accepting new Trust clients. Pretty much out of the law business completely.

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