ATF Rule 41
ATF Rule 41 was enacted by Congress on January 4, 2016 and takes effect July 13, 2016. The new regulations have a few things NFA holders need to understand.
First the regulation clarifies who a responsible person is. A responsible person is now any person who has direct management to receive, possess, ship, transport, deliver or otherwise dispose of an NFA item on behalf of the entity. This includes any person who might be involved in the purchasing or constructing of an item. If you are a “responsible person” per the regulation, you are required to fill out the Form 1 or Form 4 applications and pay the $200 tax stamp with a photo id and fingerprints. The Chief Law enforcement officer NO LONGER will be able to arbitrarily reject applications nor is a signature required. You must only serve the Form 1 or Form 4 on the CLEO by regular mail. This is a huge benefit to trust holders.
The new regulations make it easier to acquire NFA items, but the benefits of having a trust have become even more important. A trust is the best way to own an NFA item now and even more so after the new regulations begin on July 13, 2016. With a trust, transferring NFA items to one’s children or other heirs makes the process inexpensive and uncomplicated. It also allows people in your family who want to use the NFA weapons to do so my simply filling out an uncomplicated form with the ATF, paying a small tax fee annually, and being able to purchase restricted items without a lot of crazy complications.
Call me if you would like to get your NFA trust today. We can turn it around within 24 hours. – Timothy V. Anderson – 757-301-3636 www.virginialawoffice.com
ATF Rule 41 was enacted by Congress on January 4, 2016 and takes effect July 13, 2016. The new regulations have a few things NFA holders need to understand. First the regulation clarifies who a responsible person is. A responsible person is now any person who has direct management to receive, possess, ship, transport, deliver or otherwise dispose of an NFA item on behalf of the entity. This includes any person who might be involved in the purchasing or constructing of an item. If you are a “responsible person” per the regulation, you are required to fill out the Form 1 or Form 4 applications and pay the $200 tax stamp with a photo id and fingerprints. The Chief Law enforcement officer NO LONGER will be able to arbitrarily reject applications nor is a signature required. You must only serve the Form 1 or Form 4 on the CLEO by regular mail. This is a huge benefit to trust holders.
The new regulations make it easier to acquire NFA items, but the benefits of having a trust have become even more important. A trust is the best way to own an NFA item now and even more so after the new regulations begin on July 13, 2016. With a trust, transferring NFA items to one’s children or other heirs makes the process inexpensive and uncomplicated. It also allows people in your family who want to use the NFA weapons to do so my simply filling out an uncomplicated form with the ATF, paying a small tax fee annually, and being able to purchase restricted items without a lot of crazy complications.
Call me if you would like to get your NFA trust today. We can turn it around within 24 hours. – Timothy V. Anderson – 757-301-3636 www.virginialawoffice.com
