The “NFA” or National Firearms Act of 1934 governs ownership of certain items, including: suppressors, short-barreled rifles, short-barreled shotguns, machineguns, destructive devices, and “any other weapon.” These are often referred to as “Class III” firearms. The process to get ATF approval for ownership of these items can be arduous and lengthy. Paperwork must be submitted to the ATF and a $200 “tax stamp” must be issued.
If an individual is seeking ownership of an NFA item, he/she must submit fingerprints, photographs, and get his/her local Chief Law Enforcement Officer (“CLEO”) to sign off giving approval. This doesn’t include the time for the ATF examiner to review the subsequent paperwork and issue the tax stamp (this can run 4 months or more). Some CLEOs drag their feet or even refuse to sign off, frustrating any attempts to legally own NFA items.
In addition to individual ownership, the ATF has approved legal entities to own NFA items. These entities can include corporations, LLCs, and trusts. A trust, specifically a Revocable Living Trust, is a popular method for more people to legally own and possess Class III NFA firearms in Nevada. Considering the advantages a trust possesses, it is clear why it is so popular.
A properly formed trust for NFA/firearm purposes has many distinct advantages:
- Multiple possessors in the form of co-trustees
- No fingerprinting or photographs needed
- No CLEO sign off
- Faster processing time than an individual application (no CLEO signoff delay)
- Some limited liability protection of the trust assets (they are owned by the trust, not an individual)
- Potentially low cost to create
- No annual fees like a Corporation or Limited Liability Company
- Anonymity (no reporting or registering)
- Upon death of the Settlor/Trustor, the trust property transfers to the beneficiaries via a tax-free transfer on a Form 5
I’m interested, please enter me in the drawing.
I am always interested in the drawings… add me too please
Definitely would like to be entered on this one. Thanks for the opportunity!
Count me in. I’m about to purchase two and would love the help legally obtaining them.
I got tired of waiting on METRO to get thier act together, and they guys at LongMountain told me about the NFA trusts. The lawyer fee to draft the NFA has paid for itself with not haveing to go do fingerprints and passport photos. Its just an all around better way of owning NFA items. Ben Bunker at the Bunker Law Group is awesome.
Count me in! I’ve heard the trust is the way to go if you plan on owning more than one NFA item…
I did a trust for my supressors need to do a rewrite now to add wife and prepare for a SBR. Absolutely the way to go.
I could really use this, great giveaway!
Nice explanation of the NFA Trust, wondered how it all worked and the advantages of a Trust.
Something to look at in the future. What are the advantages of an individual trust for property and assets?
Definitely interested in the drawing, sign me up! :)
I’ve been thinking about this for a while. Seems like the best way to go for the fun toys!
There definitely an SBR in my future… enter me for the giveaway!
This is something I could use… ohh, to spend more money on toys…..
Very interested in this method of obtaining/maintaining NFA items. Please enter me in the drawing.
This is very interesting. i will have to look into this in depth now that I know about it. Please enter me in the drawling
Please enter me in the drawing. Thank You.
Definetly sign me up !!
A great idea, after I’ve gone through the process a number of times i can see the benefits.
This is great. Please enter me in the drawing
Add my name. Sounds great.
Spectacular giveaway, sign me up for this drawing… Thanxx
Sign me up please! Thanks
Count me in, I’ve been interested in obtaining one of these..
I am interested please enter my name into drawing
Ive been looking to do one of these!
Thanks for the info on this drawing! SIGN ME UP FOR SURE!!!!
Oh and NW Arms looks like a decent place!
This is awesome. Sign me up for the drawing as well, please!
I’m interested, please enter me in the drawing!! Crosses fingers
If I’m not too late I’d like in on this drawing. Thanks
Wow… I was just notified that I was the giveaway winner! I’ve been doing some browsing of SBRs and SBSs already! A big THANKS goes out to Ben Bunker, NevadaGunTrustAttorney.com, and 702shooter.com for providing me this cool and valuable opportunity!
I’ve notified Ben. Hopefully he will be in contact with you shortly to work it all out.
Thanks again to Mr. Bunker for sponsoring this giveaway.
Just an update… I received my NFA Trust yesterday and I couldn’t be more pleased with the process. Ben took the time to explain the document and how it was to be used during NFA purchases/builds. All and all I highly recommend NevadaGunTrustAttorney.com and I’m sure I will be doing business with them again in the future!
Thank you for the follow up Eric. Glad it all worked out so smoothly for you. :)
I think we all need these trusts. Please sign me up.
Great article, thanks for the info. Wish I had seen this before the giveaway.
Do you know if this will work in MO.
As far as I know, an NFA trust is valid in any state that allows NFA items.
This is a really great idea.
well in my state I can’t have a can, but a sbr would be cool. thanks for the giveaway
Great prize, Please enter me in the giveaway for a free trust.
really need to check this out. I need one.
Been needing to get this done, maybe soon?
nfa all the way
Count me in on this one too :)
sounds like a great concept.
The bug has bitten me for a SBR down the road, glad to find your services. Savage
Ready to WIN!!! Please enter me in your drawing. Have a Spec-Tactical Day!
Does anyone know if these trusts work for people out of state?
An NFA Trust in general will work for any States that allow NFA items. However, if they are prepared by an attorney, the attorney needs to be licensed in the State the Trust holder resides in.
Giving away a trust for class III weapons? This gives every one an escuse for an sbr!
The Gun Trust is a necessity in todays world. Thanks for the opportunity to win this tool.
I need someone I can trust.
that is very interesting. please enter me.
Sounds like a great idea
After reading the article, the ATF has two processes for accessing a classIII license. Apply for one the hard way and spend $200 and headaches or hire an attorney (the one listed) to draft a trust and have less of a headache. I am going to go the attorney route. This article was very useful and informative. And yes I know the giveaway is already passed.