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NFA Trust Schedule A question

Discussion in 'NFA & Class III Discussion' started by Hump66, Mar 20, 2017.

  1. Hump66

    Hump66 Sharpshooter

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    If I have NFA items that are registered as an individual, and items that are registered through a trust, can I still add the individual items to the Schedule A on the trust?
     
  2. Shoot Summ

    Shoot Summ Sharpshooter

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    (Not an Attorney)...

    Schedule A is for items that are owned by the trust. So I think you answered you question... :)
     
  3. Hump66

    Hump66 Sharpshooter

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    I don't think I did actually. Say I have a $100 bill on the trust, it's obviously not registered through the ATF, but it's still a part of my trust, so couldn't an individually registered NFA item still be listed on the trust?
     
  4. Shoot Summ

    Shoot Summ Sharpshooter

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    I'm not following your logic, $100 bills don't typically have ATF paperwork associated with them indicating the specific name they are registered in.

    What name is listed on the doc with tax stamp? Does that name match the trust? If not then you must transfer the item to the trust through the atf and pay another tax stamp. You will also fill out a doc to assign the item to the trust, and update your schedule A to reflect it is "owned" by the trust.

    If it is possible to put things into the NFA trust, without going through the ATF process, then it should be possible to take them out of the trust without going through the ATF, and you cannot. When you put it in the trust you change the ownership, and the ATF wants to know.

    As I said, I am not an Attorney, but I think I understand the basics of a Trust.
     
  5. Shoot Summ

    Shoot Summ Sharpshooter

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