Trust vs Individual NFA

[solv3nt]

I'm interested in getting into the NFA world, but I've been reading that the trust benefits have been basically nullified in the recent past, is this true?

I was thinking trust so it could be passed down after my demise. It sounds like the individual route is the way to go.

Those in the know, please school me.

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[CountryGent]

Some, not all, of the benefits of trusts are now gone or moot: Pictures and fingerprints now have to be submitted, whereas in the past they were not collected. (Responsible Persons forms have to be completed for each trustee too.) The CLEO sign off is no longer required, so avoiding that isn't a factor any more.

Some remain: Trustees can all use the NFA items with you being present. This is a biggie for some.

There's one good reason, other than setting it up, to not go the trust route: Trust Form 4s seem to take an eternity. I haven't noticed anything slow about eForm 1s with a trust though.

As to passing on to heirs, in both scenarios it is tax free on Form 5. The trust can spell out who gets what and when. This may or may not matter to some.

Hope that helps.

 

[Member 34319]

In my opinion individual is easier. There are more steps involved when filing as a trust. It can be worth taking those steps in some cases. In my case it wasn't necessary so I file mine as an individual. If you want your wife or kid (18) to use them without your presence, a trust allows them to. It also aids in transferring them later upon your death, but not by much.

 

[solv3nt]

Is it better to file multiple form 4s at the same time, will they be released at the same time or staggered?

 

[CountryGent]

Is it better to file multiple form 4s at the same time, will they be released at the same time or staggered?

I'm not sure on this. I do recall filing two Form 1s about 24-hours apart via eForms. They were both approved about 24-hours apart. Seemed like first in, first out, but I don't know how BATFE handles those internally.

 

[solv3nt]

Has anybody purchased from the Silencer shop kiosk? Can they do fingerprints and photos right there or can you do a hybrid half online with photos and information?

 

[ORhutner]

I went the SilencerShop Single Shot Unlimited trust as I knew I would have more than 5-items. Been totally worth it and all my form 4 trust approvals have been at or better than 6-months from date of order with SilencerShop. Getting setup with SilencerShop is the easiest way to perform your suppressor purchases whether individual or trust. Their app is utilized for your passport photo and the kiosk takes care of your prints. The kiosk print process takes 15-minutes or so with a good assistant to help get you through the quirks. All trust documents and forms are e-signed and they take care of payment for your tax stamp when you purchase the tax stamp through SilencerShop.

As it was explained to me by SilencerShop, going the trust for every Form 4 route it allows you to add individuals legally able to posses that item with a simple trustee add form and they don't have to go through the finger print and background check. This is AFTER the form 4 has been approved and tax stamp received for your form 4 item in its own trust. Not doing a good job of explaining it but the great folks at Silencer Shop can and the directions that come with the trust lay out the process for adding and removing trustees.

You don't use the Kiosk to make your purchase (at least I don't think you can). You just use the Kiosk to capture your finger prints but maybe things have changed as it has been 2+ years since I had to do anything with a Kiosk. All my purchase and paperwork has been done 100% online after using the Kiosk for my fingerprints on the first can. Then when your tax stamp arrives at the dealer you just go in and pay your pound of flesh to the state of Oregon via a 4473 and take your suppressor home.

TLDR: The simplest and easiest way to purchase a suppressor is via SilencerShop. They have every step of the process laid out with simple, easy to follow instructions. I wouldn't purchase a suppressor any other way.