Suppressors Trust question

[catalyst81]

I'm about to submit my trust application and have a question. According to the the law firm I had draft the trust I do not need to include an assignment sheet listing the suppressor because the Trust is on the Form 4 application. They have an assignment sheet I can use to assign other non NFA firearms to the trust, but said its not necessary to list the suppressor on it. However, the guy handling my transfer was telling me he always includes the assignment sheet listing it. He figures if they don't want it on there, they can just shred that sheet. It's my first suppressor application

What has all your experience been? I want to make sure I do it right. I don't want it sitting for 8-10 months come to find out it's been rejected.

 

[striped1]

I have not included that in my applications.

 

[Lunchbox27]

I have never submitted one with mine, but any FFL doing your Form 4 should be able to answer your question.

 

[catalyst81]

I have never submitted one with mine, but any FFL doing your Form 4 should be able to answer your question.

Yeah, he said he usually includes it. I don't mind doing so as long as it doesn't screw up the app. I don't think legally its necessary. I just don't want to do anything do jeopardize the app.

 

[leftyk82]

My lawyer supplied me with an assignment sheet specifically labeled 'Appendix' where I keep an inventory of my NFA items. I update this once I receive a stamp back from the government.

It is not included in my trust paperwork when submitted for a new NFA item, however.

 

[mewillis]

Schedule A or Assignment of Trust property only lists the items ie; bank accounts, property, anything "owned" or assigned as Trust property. Your pending supressor isn't Trust property until it is approved and "owned" by the trust. Even if you had a so called "gun trust" it's the same. In your case it's not approved yet and has not technically transferred to the Trust. But the NFA requires a schedule A or assignment as described in the instructions, that's why trusts take longer to approve than individual because some NFA lawyer scrutinizes it for these omissions. BTDT

 

[catalyst81]

Schedule A or Assignment of Trust property only lists the items ie; bank accounts, property, anything "owned" or assigned as Trust property. Your pending supressor isn't Trust property until it is approved and "owned" by the trust. Even if you had a so called "gun trust" it's the same. In your case it's not approved yet and has not technically transferred to the Trust. But the NFA requires a schedule A or assignment as described in the instructions, that's why trusts take longer to approve than individual because some NFA lawyer scrutinizes it for these omissions. BTDT

I'm a bit confused. If the NFA item (suppressor) is owned by the trust and the stamp is in the name of the trust, why do they require an assignment? If its owne by the trust, no need to assign it to the trust right? Since its not trust property until approved, do you just leave the assignment sheet blank?

 

[G-Dog]

If it is your first suppressor, leave the assignment blank, as you technically don’t own the suppressor yet.

The attorney I had create my trust told me that the assignment sheet was not necessary *with the way my trust was drafted*. Your trust may differ. I’ve also been told by the FFL making the transfer that the assignment sheet was necessary, so who knows. It’s not like big brother doesn’t know what you have already submitted paperwork for, but it may speed things along for them.

 

[catalyst81]

If it is your first suppressor, leave the assignment blank, as you technically don’t own the suppressor yet.

The attorney I had create my trust told me that the assignment sheet was not necessary *with the way my trust was drafted*. Your trust may differ. I’ve also been told by the FFL making the transfer that the assignment sheet was necessary, so who knows. It’s not like big brother doesn’t know what you have already submitted paperwork for, but it may speed things along for them.

This basically describes my situation, except the FFL said he usually sends it with the assignment sheet filled out (rather than it being necessary). He did say my assignment sheet looked a little different than his. I think I'll send it blank - doesn't make sense to fill it out yet. If they throw a fit, I can fill it out and send it to them.

 

[G-Dog]

That’s what I would do, you should be fine. Best of luck and you are gonna love suppressed shooting. Enjoy!

 

[Strykervet]

I don't include the non-NFA items, I have a Schedule B that just states "not used". So I do include a Schedule B but that's all it says.

I do include the NFA items and I have a Schedule A that looks similar to the one you attached. Everytime I get a new item, that gets updated. When I submit a new form, I put the new one on there and mine has a box for "Tax Stamp" where I put "pending" for new submissions and "yes" for completed ones.

One time I did forget to update the new submission with the new, pending item. Just the old stuff I already owned. It went through no problem. But sometimes different people grade it different and because it takes so damn long is why everyone says dot all the t's and cross all the i's and don't take chances.

Keep in mind too my trust came from an attorney and I've got multiple items with it over the years but one day he contacts me and says ATF is rejecting them due to one sentence and it needs to be updated. Never a problem until it is one.

I'd include both schedules and for the non-NFA I'd just make a second one with "not used" on it for mailing in.

 

[mewillis]

So I assume this is your first Trust assignment, so yes. You have no trust property so you don't list your pending stamp. I have many things assigned to my trust so yours may differ ie; gun only trusts. Some trusts list everything owned in the body of the trust which IMO is stupid because you have to re-state your trust each and every time you add or remove something. A schedule A aka assignment of property can be updated without amending the trust which is the proper way to do it. The trust is the statement by the Grantor (you) and the property can be moved to or out of the trust by the Grantor at his/her discretion. This is the beauty of the trust route as you can, sell/dispose/add/delete etc. anytime you wish. (I'm not a lawyer just a 20 plus year experienced trustee and NFA owner)

 

[mewillis]

Another point to make even though I list my bank accounts, CD's etc. on my schedule A overthinking it and doing the account 1234xxx as if the Gubment doesn't know what my property is, IS SILLY.
I'm a former Gubment worker and I can tell you now and forever, they know everything about you. All of your bank accounts, safe deposit boxes or whatever you think they don't know about you. So just list it and be done. Being clever really doesn't work because we live in a world where you have no secrets.

 

[cmoore806]

I wouldn't put non-NFA items into the NFA trust. I had my attorney put together a NFA trust as well as a revocable trust where I could move my non-NFA items into just for sake of estate planning. Its good to keep NFA and non-NFA items separate is what I was told.