NFA Trust vs Individual Pros and Cons | eSilencers
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- Опубликовано: 8 сен 2024
- With 41-F in full swing and now that the ATF has caught up on ATF Form 1 and ATF Form 4 submissions with Post-41F laws, you may be looking at purchasing NFA items again, but unsure of how to file. In this video, we have provided the pros and cons of setting up a trust for a suppressor and how it compares to just rolling with it individually. How does an NFA trust work? We’re glad you asked!
If you are setting up a Trust for a suppressor, the fewer co-trustees you have the better. Co-trustees are considered anyone on the NFA trust who may take possession of the trust without the owner being present. This is beneficial if you have someone you trust having the capability to take your NFA item on a hunting trip or a day to the range without your presence. However, this can be a double-edged sword because anyone you have labeled as a co-trustee must go through the thorough NFA process including fingerprints, photos, responsible person questionnaire, etc. for each and every NFA purchase. If you are a collector of NFA items like we are at eSilencers, this can be a cumbersome process over time. Not only does it slow you down, but there are more possibilities of the paperwork process being delayed depending on how busy the ATF is. If gathering all of this paperwork and waiting on it to be processed is too much for you, one tip is to simply make an amendment to your NFA trust which isn’t too difficult to do. With an amendment, you are just removing trustees before sending in your Form 4 paperwork when purchasing an NFA item, making their paperwork unnecessary. Once the ATF form 4 is processed, you can easily add co-trustees back to the trust. At the moment of this video, the ATF requires no notification that you are adding or removing co-trustees. The only thing that matters is who is co-trustees when you first send your ATF Form 4 paperwork in.
Beneficiaries will take possession of your NFA items upon death, but do not have authority over the trust itself. Therefore, when you are setting up an NFA trust you can set it up simply for passing down to family and friends while keeping them from having to go through the paperwork every time you buy NFA items. You can also recategorize co-trustees to beneficiaries instead of removing them from the trust. This is a great feature when setting up NFA trust.
Not all trusts are created equal! If you are setting up a trust for suppressor purchases, there are several great options. We recommend GunTrustGuru.com which provides a very well-developed trust that makes it easy to make changes.
Seeing value from this post on NFA Trust vs Individual? Check out our full fingerprint process guide needed for buying suppressors at • Full Fingerprint Proce... . If you enjoy that video, check out our ATF form process tips to buy suppressor online at • Form Process Tips to B... .
You only need to provide your trust once every two years to the ATF, saving time. This makes it more convenient than having to send your trust in every time.
So what is the real advantage in filing with a trust compared to filing individually? The two main benefits of filing as a trust are being able to add and remove responsible persons to your trust, which can be a double-edged sword. Trusts also make it easier to pass down NFA items to your loved ones. There’s extra paperwork involved if it is done individually whereas Trusts don’t require as much. The biggest advantage, however, to filing as an individual is that is much more simple and straightforward process. The majority of the time, it takes less time to get your paperwork processed. Initially, filing as an individual is easier and there is less paperwork. However, there are still advantages to using a trust for your purchases.
We hope you found this video useful. If you are looking to setup a trust for suppressor purchasing, feel free to post your questions and comments below or visit us for additional information at www.esilencers.... The information included in this video was based on NFA trust 2017 laws and regulations. For up-to-date information, check out our website or submit a question to eSilencers through the website.
simple and to the point video, many on youtube could take a lesson here.
Great video! Clear concise info without the BS! Nice job
one day it would be nice if someone went through the form step by step for each trust and individual Please make such videos please
More considerations than I had expected. Then again, this is the gubment we are dealing with.
So basically lets all pray for the hearing protection act
lol
Basically dead. Will likely never happen.
after the election?
Prayer didn't work... I guess someone must've been protecting God's ears & suppressing our voices. (That & Trump lying about the whole thing from the jump.)
Didn't happen 😢
Would love you to do do something on that range
Good vid, thank you
I've never heard of this sending your trust info into the ATF every two years. I've owned NFA items for years. You don't need to send them anything unless you plan on moving out of state or want to remove people from the trust. Basically, if any information were to change on the trust.
It’s crazy in almost every other part of the world you can pickup a suppressor for under $200 and here in the USA 🇺🇸 the tax on a suppressor is equivalent to that cost. But keep in mind in a lot of countries where there are rights to own firearms their governments just don’t issue any of the permits required to legally own firearms so it’s kind of a pointless right if you can legally own something but your local or federal government doesn’t give issue the right to anyone besides Law Enforcement.
Easiest way to pass your NFA items down to your loved ones: lose them in a boating accident before you die
@@georgesmith4639 well duh
@@georgesmith4639 ummm, pretty sure the fact that you could go to jail was implied by the method of “passing” lol. There’s no explanation needed
Just make it yourself. Keep it to yourself.. And stop feeding Uncle Gubmint
If you file as an individual can you later put your NFA items under a trust? If so what are the additional costs for that?
$200
Unless you're in some kind of firearms related business or have multiple members of your family using your weapons, there's no point in going through all the trust paperwork. Simply be present if someone wants to use your NFA items. It'll be fun anyway.
What about under individual what happens to the item(s) after the owners passing? Can the next of kin keep them or do they have to be surrendered back to ATF?
Does the statement “You only need to provide your trust once every 2 years to the ATF” mean you have a 2 year window to purchase additional NFA items without having to resubmit trustee fingerprints, passport photos, etc? (Assuming no changes are made to the trust during that time period)
QUESTIONS: the ATF forms says that the Chief of Police will be notified (which is fine I have a clean record) .. will any local or state law enforcement officer be contacting me regarding the purchase of a suppressor? I just want to know so I can inform my wife, so she doesn't think I'm in trouble with the law or anything like that lol. Will they ask me any questions? Will they want me to tell them why I purchased a suppressor (for varmint hunting) or want me to take a drug test (no drugs), or do a local background check?
I highly doubt you will ever have this issue. I’ve never heard of anybody being contacted. So, I wouldn’t worry about this.
It "notifies" the Chief bc before(maybe still) you had to get their signatures so that you get the item. The "idea" behind this is for the chief to get a feel of if you should be able to get it but most people either found they don't care and don't have time or are extremely anti guns and refusing to sign off on it. So then you'd be stuck . But you shouldn't worry they usually don't care unless they're a fudd who thinks civilians can't have the same crap they dk
Can you plate this for 2020?
3:20 did you mean to say it takes less time filing as a trust?
It takes less time to file as an individual, because the paperwork is easier. However it takes longer to get an approval from the ATF.
I did trust with no one on paperwork. So does that make it easier like individual?
@2:25 it says you need to send your trust into the ATF every 2 years. Is that true? I purchased a single shot trust and silencer through Silencer Shop and was never informed of this.
Single Shot does not apply. It can only be used once with one serial number assigned to the Trust. Meaning you have to purchase a new trust each time you buy a NFA item. The ones that are mentioned in this video are for Revocable Trust. In which you can amend, and add more than one NFA item to it.
Awesome, thanks for the explanation, appreciate it!
Short version... Trust aren't worth the hassle.
I'm starting to realize that too.
My brother has a gun trust can I use his trust to get a NFA item and do I still have to do the fingerprint process if I'm co-trustee on his trust that was established in 2007
Can you buy as many suppressors as u want with one ?
after the initial approval from the ATF do I need to do everything all over again and go through that long waiting period for each and every NFA item I purchase? Or after the first time is It much easier to buy more
From what i understand each seperate NFA item bought will have the same long waiting period. The waiting period won't shorten because you previously bought an NFA item and had already went through the process once before. That was my reason for buying a hybrid.
zombie hunter yeah wish it weren’t the case but you’re right. Bummer
What if the person that you're having put on the trust is not old enough to have a gun
If you’re going to live for 50-70 more years. Why would you pass down your outdated suppressor?
Kids be like, "But Dad, I have a light saber, and Blaster that shoots red lasers.. that go 'zew zew zew'"
Why the music?
I know you are reading this as you are speaking so fast that it is worthless. I’m sure you know what you are talking.