Just a few short months remain before regulatory changes affect gun trust administration for NFA items. Some individuals who already have gun trusts in place might think they have avoided the imminent changes, however, some existing gun trusts may not be easily administered under the new regulations in ATF 41F. These individuals and those who plan to wait until after July 13, 2016 (the day ATF 41F takes effect) will face several challenges. The former should have their existing trust documents reviewed by a gun trust attorney to identify any potential problems. Those who create a gun trust after July 13, 2016 will be required to:
- Show proof of the gun trust
- Undergo background checks for all ‘responsible persons’ named in the trust document. The background check must include photographs and fingerprints.
- Notify the CLEO (Chief Law Enforcement Officer) of the transfer
Those who choose to own and transfer NFA items without a gun trust will be required to:
- Notify the CLEO (Chief Law Enforcement Officer) of the transfer
- Undergo background checks as described above
- Create a risky situation for family members. If the registered owner becomes incapacitated, no legal document is in place to appoint a responsible family member to possess or dispose of the NFA items. This makes family or friends vulnerable to committing an ‘accidental felony’ simply by possessing the NFA firearm, which could result in up to six-figure fines and jail time. If the registered owner dies, there is no legal document how the firearms should be managed, also posing the same aforementioned risk of an accidental felony.
Gun trust attorney Greg Herman-Giddens leads a free seminar “Gun Trusts and How They are Affected by ATF 41F” on Monday, May 2, 2016 in Chapel Hill. The seminar begins at 6PM. Light refreshments provided. Seating highly limited and advance registration required by 4/18.