AlexanderA
Member
http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=201210&RIN=1140-AA43
The proposal for CLEO signoff elimination has now reached the stage of "proposed rulemaking." That means the clock is running for official adoption.
The upside is that CLEO signoffs will no longer be required for Forms 1 or 4. The signoff will be replaced by a CLEO "notification."
The downside is that all "responsible persons" of trusts and corporations will have to submit photographs and fingerprints, and have a background check done.
These two things, together, eliminate most of the incentive for forming NFA trusts. This also means a slightly lighter workload for ATF.
The proposal for CLEO signoff elimination has now reached the stage of "proposed rulemaking." That means the clock is running for official adoption.
The upside is that CLEO signoffs will no longer be required for Forms 1 or 4. The signoff will be replaced by a CLEO "notification."
The downside is that all "responsible persons" of trusts and corporations will have to submit photographs and fingerprints, and have a background check done.
These two things, together, eliminate most of the incentive for forming NFA trusts. This also means a slightly lighter workload for ATF.