Firearms owners have been waiting for the announcement of new federal requirements for transfers of NFA weapons that involve gun trusts, however, the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) recently announced final actions will be made in June 2014.
Although the public comment period has ended for individuals who wanted to submit their thoughts on the proposed gun trust regulations (the ATF’s Unified Agenda Statement for 41P), the timing of the ATF’s next move is not definite. The new regulations may be imposed sooner or they may happen later. For the immediate future, individuals who want the benefits of a gun trust have time on their side. Setting up a gun trust before the changes take place will help prevent what will likely be long delays and extra administrative work for firearms owners.
Possibly adding to the window of time are new talks about the ATF’s procedures failing to comply with the Administrative Procedure Act. The ATF is being accused of a non-compliant comment and notification process. The government shutdown interfered with the required 90 days of time available for comments. Resolving these matters may delay the ATF’s 41P from moving forward.
If you own guns in North Carolina, Florida, or Tennessee and want a responsible way of sharing, transferring or “storing” your firearms, schedule a review with one of our gun trust attorneys. Pending rule changes will make it more difficult to buy NFA weapons with a gun trust, but for now individuals can take advantage of the small window of time in which the process remains simpler, more certain and less costly.