41P and You: BATFE vs Trusts, and your plans for NFA items in 2015

Discussion in 'Curt's Discount Shooter's Supply' started by CurtsDiscount, Jan 5, 2015.

  1. CurtsDiscount

    Milwaukie, OR
    Silver Vendor Silver Vendor

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    So you want an SBR/SBS, or suppressor this year?

    41P is coming.

    What is 41P? 41P is the proposed rule change regarding NFA trusts. No one knows which of BATFE's proposed changes will take place, or even how many there are, but we have an idea on some of them (there will almost certainly be more proposed changes than the ones we are aware of at this moment):

    1. Add a definition for the term "responsible person."
    2. Require each responsible person of a corporation, trust or legal entity to complete a specified form, and to submit photographs and fingerprints. (just like with individual applications)
    3. Modify the requirements regarding the certificate of the chief law enforcement officer (CLEO). (just like with individual applications)

    It's likely that whatever changes BATFE puts forward will significantly alter the trust process. Given how little we know about what BATFE is planning, it's impossible to predict exactly what the consequences of their proposed changes will be.

    The earliest any changes to trust application/ownership will be announced is May 2015 and following a 90 day period after this announcement, they'll go into effect.

    CDSS advises anyone who wishes to purchase an NFA item to do so before these changes take place. Given that some of these proposed changes affect pre-approval application and some affect post-approval delivery process, potential buyers will want to COMPLETE their transfer processes prior to any changes taking place. NFA approvals for Form 4s are running about 6-8 months now, so there is still time to set up your trust, purchase, apply for, and receive your NFA item before any changes from 41P take effect--but only if you hurry.

    We do not know if e-filing will be available between now and when the changes from 41P happen, but if e-file for Form 4s does become available up, you'll want your trust ready to submit when it happens.

    To facilitate the anticipated increase in trust applications NW Gun Law Group will be hosting a trust delivery on February 7th at 11:00AM. All trust applications must be submitted by January 30th to be eligible for delivery on February 7th.

    Please contact us or NW Gun Law Group (855-486-3629) for application details. If you already have a trust and were thinking about another NFA item, please see us, you'll want to start now, particularly if the NFA item you're looking for isn't one we have in stock at the moment.

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