Suppressors Date question on "Assignment of Property" document (with pic)

[Goin'Hot]

When I started in to the NFA world, back in '09, Brian Gaston set me up with my trust to send in. It's worked for the past 7 items with no issue. Now I want to e-file a form 1 and have heard they flat out deny you if there are any issues with your "paperwork" and you get kicked out totally and have to start over. My question is regarding the date (that I have circled) on the "Assignment of Property" page.

Is the circled date, supposed to match the date I received the stamp for item #7? or do I use the date that the trust was established? Thanks.

 

[Solothurn]

I update my Assignment of Property after I have actually received a new item. I suggest that you sign and date after you took possession of #7.

 

[Goin'Hot]

I suggest that you sign and date after you took possession of #7.

Question being... The portion that is circled, should it have the date that the trust was created or should it reflect the date of the most recent item that was approved by the ATF?

 

[Altnews]

Question being... The portion that is circled, should it have the date that the trust was created or should it reflect the date of the most recent item that was approved by the ATF?

The date should be the date that the document is executed. If it's your first NFA trust item you send a copy of the assignment sheet with the trust to show the BATFE that the trust has been properly funded by putting something IN the trust. The date should be the same as the date that you purchased the item using trust funds, or the date upon which the item was transferred into the trust. You do realize that if you already own the NFA items and have stamps for them, by transferring them to the trust you have "transferred" them and you have to do the forms and pay $200 each and get new stamps BEFOREHAND to move them into the trust, right?

After your trust has been approved with the first NFA item in it, there's no need to send them an assignment because the paperwork itself verifies that the item belongs to the trust because it has the trust name on it and it's being purchased by the trust and the trust has already been approved.

 

[Goin'Hot]

The date should be the date that the document is executed. The date should be the same as the date that you purchased the item using trust funds, or the date upon which the item was transferred into the trust.

The first 3 items were purchased with my personal money. The trust and it's funds have been used to purchase the remaining NFA items. The first 3 items on the document were listed there when the trust document was sent in for the first approval. I have added the last 4 items to my schedule A and was unsure about adding them to my Assignment of Property document (and which date to use) so, that's how we've come to this point.

After your trust has been approved with the first NFA item in it, there's no need to send them an assignment because the paperwork itself verifies that the item belongs to the trust because it has the trust name on it and it's being purchased by the trust and the trust has already been approved.

If I understand this correctly, I only need to have the original document that was approved the first time by the ATF with the original date. The Assignment of Property document need not be sent for any future purchases although I will send an updated schedule A.

 

[jdonovan]

The first 3 items were purchased with my personal money. The trust and it's funds have been used to purchase the remaining NFA items. The first 3 items on the document were listed there when the trust document was sent in for the first approval.

The assignment date is the date you transferred 'ownership' to the trust. The date on the form 4 is the day the trust is allowed to take possession.

The trust and it's funds have been used to purchase the remaining NFA items...
I have added the last 4 items to my schedule A and was unsure about adding them to my Assignment of Property document (and which date to use) so, that's how we've come to this point.

I've had this discussion with my lawyer already. The result of the discussion was there is no need to assign property to the trust that the trust already owns. By making the purchase with trust funds, the trust already owns the item.

 

[Goin'Hot]

Thanks guys. I'm going to keep the original document that the ATF approved when it was submitted the first time. I was just trying to get up to speed here.