another transfer question.

[Honey Badger]

NO NO NO! I am a class 3 dealer and I can tell you that you cannot give your nfa items to anyone including a family member, they must go through the same procedure you did to get your stamp.

IF your NFA items are in a trust and thats where the paperwork says they belong then you can list your family member as a trustee and let them use it but it will not belong to them, it will belong to the trust until it is transfered out.

An NFA item can be transfered by Will without paying the stamp upon the death of the origonal owner as long as it is to a family member but the transfer has to be done as soon as the will is read or probate judge releases it.

Thanks sir.

 

[Honey Badger]

Honeybee is right. Transfer of ownership from one legal entity (individual, trust, corporation) to another legal entity has to transfer on a tax paid form 4. Only exception is the death of the original owner allows the transfer to a lawful heir on a tax free form 5 (see http://www.atf.gov/press/releases/1999/09/090599-openletter-nfa-estate-transfers.html)

Thanks sir.