Individuals and legal entities that apply to make or receive NFA (National Firearms Act) firearms now face uniform regulations. The amendments to NFA regulations that went into effect on July 13, 2016 apply to individuals and trusts (and other entities).
Although the new regulations remove the requirement to receive sign-off from a Chief Law Enforcement Officer (CLEO), the standards impose additional documentation and administration. CLEOs must be notified of NFA applications and background checks must be completed for all ‘responsible persons’ associated with the application.
When it comes to gun trusts, ‘responsible persons’ are recognized as trust grantors, trustees, and beneficiaries. Each individual must supply a completed ATF Form 5320.23, photograph, and fingerprints. These are required in order to process the background check.
Important Note: The ATF released new forms that must be used after July 13, 2016 or the application will not be accepted. For those seeking to make and register a firearm, the ATF Form 1 is required. To transfer NFA items, the ATF Form 4 is required. For tax-exempt firearms transfers or registrations, the ATF Form 5 is required. As noted above, all NFA applications must include ATF Form 5320.23 for every ‘responsible person’ associated with the application.
Curious about how 41F applies to an existing gun trust? Contact a gun trust attorney for a confidential trust evaluation – 800.201.0413 or complete an online request.