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Any recent approvals?

Discussion in 'NFA Firearms and Accessories' started by armedwalleye, Aug 5, 2021.

  1. Mark_Mark

    Mark_Mark Contributing Member

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    you are like the SBR king, all in a gun trust?
     
  2. WooD

    WooD Member

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    Apr 4, 2009
    Messages:
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    Individual, never set up a trust. All my family lives 900 miles away.

    This keeps my friends from trying to borrow my cool stuff.

    All my guns are willed to my daughter, all she has to do is file a ATF form 5 along with a death certificate, and their all hers.
     
    Mark_Mark and Gordon like this.
  3. Gordon

    Gordon Contributing Member

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    Yes I think there is a widespread ignorance of the form 5 for inheritance without another tax .
     
    Mark_Mark likes this.
  4. WooD

    WooD Member

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    From the ATF.

    "The firearms may be transferred on a tax-exempt basis to a lawful heir. The executor would apply on ATF Form 5, Application for Tax Exempt Transfer and Registration of a Firearm, for a tax-exempt transfer to a lawful heir. A lawful heir is anyone named in the decedent’s will or, in the absence of a will, anyone entitled to inherit under the laws of the State in which the decedent last resided. NFA firearms may be transferred directly interstate to a beneficiary of the estate. When a firearm is being transferred to an individual heir, his or her fingerprints on FBI Forms FD-258 must accompany the transfer application. However, if any Federal, State or local law prohibits the heir from receiving or possessing the firearm, ATF will not approve the application."
     
    Mark_Mark likes this.
  5. Mark_Mark

    Mark_Mark Contributing Member

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    And I learned something new! Form 5 Sounds NICE
     
  6. syntaxerrorsix

    syntaxerrorsix Member

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    Jan 7, 2011
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    Location:
    Lakeland, FL
    How are the NFA items stored until approval? Local FFL?
     
    Gordon likes this.
  7. dogtown tom

    dogtown tom Member

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    No.
    The estate maintains possession. ATF allows 90 days to file the Form 5 I believe. Anyone relying on that ought to include a prefilled Form 5 with their will or trust.

    Transferring to an FFL means a Form 4 and $200 tax..........and negates the ability of the tax free Form 5 to the beneficiary from that FFL.
    The estate could deliver any NFA firearms to an FFL for "gunsmithing" without need for a Form 4. But there needs to be bona fide gunsmithing performed, not just storage. Gunsmithing services might include cleaning and/or a function check.;)
     
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