Suppressors NFA Transfers

[markspring1978]

Tried to search for where this might be already posted, my apologies in advance if it's posted elsewhere.

My question, if you set up an NFA Trust, what is entailed with transferring items that I already own to the trust? Is a second "tax" required?

Merry Christmas!

 

[msrtex]

Re: NFA Transfers

Correct, it is another transfer and all the paperwork and fees are required.

 

[Goin'Hot]

Re: NFA Transfers

But, at least you get to use and enjoy it while the paperwork goes through.

 

[damcv62]

Re: NFA Transfers

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Goin'Hot</div><div class="ubbcode-body">But, at least you get to use and enjoy it while the paperwork goes through. </div></div>

True, but is it worth the $200 to get it to the trust? Unless you have family members or someone else you want to be able to use the items when you aren't around. I've got some NFA items personally, but I set up a trust late last year. I'm not going to bother moving my personal items to the trust, not worth the cost.

 

[biffj]

Re: NFA Transfers

anytime you you transfer an NFA item from or to a non Special occupational taxpayer there is a tax due. Since a trust is an individual as far as the state is concerned you are doing a transfer between you as an individual and your trust which is another individual. That means another tax. Like going hot noted though you get to keep it and play with it while you wait.

Frank

 

[Goin'Hot]

Re: NFA Transfers

One of the true benifits with the trust is that anyone listed I the trust can use it in your absence. This goes to the point that if you should pass, the items are already taken care of and its one less thing your wife, child, nephew needs to worry about.

 

[markspring1978]

Re: NFA Transfers

Thanks for the feedback. What I figured...

 

[bowhunter_0311]

Re: NFA Transfers

off subject with sbr i know you have to have some paperwork from atf to cross state lines. is that the same for cans?

 

[rv10flyer]

Re: NFA Transfers

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: bowhunter_0311</div><div class="ubbcode-body">off subject with sbr i know you have to have some paperwork from atf to cross state lines. is that the same for cans? </div></div>

No 5320.20 needed, just make sure the state you are traveling to is also a suppressor friendly state.

 

[KYS]

Re: NFA Transfers

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: rv10flyer</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: bowhunter_0311</div><div class="ubbcode-body">off subject with sbr i know you have to have some paperwork from atf to cross state lines. is that the same for cans? </div></div>

No 5320.20 needed, just make sure the state you are traveling to is also a suppressor friendly state. </div></div>

Not needed but make sure you do the paperwork if you know how far out the trip is. You could always run into someone that doesn't understand the law and seize your can. I have left the state with a bolt gun w/ can attached and traveled to a suppressor friendly state with no problems, but it was a last minute trip. Had I known weeks in advance, I would have filed paperwork just to be safe.

As long as you venture thru suppressor friendly states, you are good to go.