If memory serves me right, I don't think this has to be sent in along with the form 4 application and $200 check, correct? I remember sending in a schedule A with the items listed under the trust, but the assignment of of property document is something you fill out after you receive the tax stamp back?
Suppressors Sending in Assignment of Property document w/ form 4 application?
- Thread starter uracowman
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still looking for an answer on this
so in my trust, i dont have an "assignment of property" document as you are talking about. my original trust was started with $5 (Texas law says the trust has to own something to be valid). after that, as i have added to it, i have created a one page sheet with the title "Amended Scehdule A to the Charger442 Trust". i add an item to it with the model number, serial and date of stamp approval and then i sign and date it. when i get the next items, i remove the old "Amended Schedule A" and create a new one with all the old info still on it, just with the new item and my signature and date.
i have always just updated my schedule A after the stamp was in hand.
i dont know if this helps you, but its what i do and its what i understand the laws to be here in Texas regarding NFA trusts.
i have always just updated my schedule A after the stamp was in hand.
i dont know if this helps you, but its what i do and its what i understand the laws to be here in Texas regarding NFA trusts.
My trust paperwork says you send an assignment with the form 4 but you ONLY list the NEW item(s) you're adding with THAT form 4, don't send them a cumulative assignment form showing all previously assigned items, it's neither necessary nor desirable.
The purpose of the assignment form is to show the examiner that the NFA item is properly the property of the Trust. Without an assignment there is no way to show (evidentially) that the NFA item actually entered the legal inventory of the Trust and is therefore property of the Trust BEFORE the NFA Branch approves the transfer. This is true even though the Trust doesn't have physical possession of the NFA item. It is the transfer that's being approved and the NFA examiner wants a traceable chain of legal possession from the manufacturer to the end user BEFORE approving the transfer.
If you don't send in an assignment with the form 4 it is not clear on the record that the NFA item is Trust property. They don't just trust you to fill out an assignment after the fact, they want to see it up front so there's no question that it's Trust property. It's a legal punctillio having to do with chain of custody and ownership.
The purpose of the assignment form is to show the examiner that the NFA item is properly the property of the Trust. Without an assignment there is no way to show (evidentially) that the NFA item actually entered the legal inventory of the Trust and is therefore property of the Trust BEFORE the NFA Branch approves the transfer. This is true even though the Trust doesn't have physical possession of the NFA item. It is the transfer that's being approved and the NFA examiner wants a traceable chain of legal possession from the manufacturer to the end user BEFORE approving the transfer.
If you don't send in an assignment with the form 4 it is not clear on the record that the NFA item is Trust property. They don't just trust you to fill out an assignment after the fact, they want to see it up front so there's no question that it's Trust property. It's a legal punctillio having to do with chain of custody and ownership.
