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Started By
Message
Can someone please school me on the new BATFE trust Amendment?
Posted on 7/5/16 at 11:28 am
Posted on 7/5/16 at 11:28 am
From what I have gathered, the new amendment requires you to submit photos/finger prints of trust members the the BATFE. Is this just when you purchase an NFA item? Or on a regular (yearly?) basis?
Also, does this require my sucessor? Because that is my 9 year old nephew, and if that's the case, I am changing him out for someone. I don't see my brother wanting to send his 9 year old kids fingerprints to the BATFE.
The main reason I'm asking is because everyone is freaking out trying to buy their NFA stuff before the amendment kicks in, but if the only change is fingerprints/photos then it's no big deal for me. Especially if you will need to do it anyway down the line.
Also, does this require my sucessor? Because that is my 9 year old nephew, and if that's the case, I am changing him out for someone. I don't see my brother wanting to send his 9 year old kids fingerprints to the BATFE.
The main reason I'm asking is because everyone is freaking out trying to buy their NFA stuff before the amendment kicks in, but if the only change is fingerprints/photos then it's no big deal for me. Especially if you will need to do it anyway down the line.
This post was edited on 7/5/16 at 11:31 am
2
Posted on 7/5/16 at 11:36 am to CP3
When 41P goes into effect on July 13, 2016, all trustees and successor trustees will be required to submit photos and fingerprints. However, the new rules do include an exception where the if the applicant entity has been approved as a maker or transferee within the prior 24 months, there has been no change to the “documentation previously provided” and the entity certifies this by specifying the previously approved form by form type, serial number of the firearm and date of approval, it does not need to submit the photographs, fingerprints and Responsible Person Questionnaire. In other words, once you have submitted photos and fingerprints you do not have to do so for any applications made within the next 24 months as long as none of the information you have previously submitted (i.e.; trustees, address) has changed.
These new rules are not retroactive and will not apply to applications that are in ‘pending’ status or to envelopes postmarked July 12, 2016 or before, according to a recent ATF statement. The new rules will also not apply to previously approved applications for existing legal entities and trusts holding NFA items. Despite the recent statement from the ATF, as the effective date grows nearer, I suggest that you should submit any applications that you want processed under the old rules with enough lead time for those applications to go pending before the new rules take effect.
These new rules are not retroactive and will not apply to applications that are in ‘pending’ status or to envelopes postmarked July 12, 2016 or before, according to a recent ATF statement. The new rules will also not apply to previously approved applications for existing legal entities and trusts holding NFA items. Despite the recent statement from the ATF, as the effective date grows nearer, I suggest that you should submit any applications that you want processed under the old rules with enough lead time for those applications to go pending before the new rules take effect.
Posted on 7/5/16 at 11:37 am to CP3
It will require fingerprints and photos to purchase an NFA item. Once you make that purchase your fingerprints and photos will be good for 2 years to purchase more NFA items. Everyone on the trust must have the fingerprints and photos. They are doing away with chief LEO sign off.
Posted on 7/5/16 at 12:33 pm to Ice Cream Sammich
I'm pretty sure that the 24 month thing is gone from the final 41F ruling. You will have to submit fingerprints and photos for all trustees EVERY time you apply for a tax stamp.
Posted on 7/5/16 at 12:38 pm to 03GeeTee
You have a link to where you read that? All the reliable sources I have seen still say you have 24 months.
Posted on 7/5/16 at 12:46 pm to jdavid1
What if I have a trust already that has me as the trustee, my 9yo as a benefactor, and my brother n law as a successor and I want to add the wife as another trustee after the 13th. Does she have to do the fingerprint photo thing? Do we all have to do it to add just her?
Posted on 7/5/16 at 1:10 pm to 03GeeTee
Posted on 7/5/16 at 2:37 pm to NOLAGT
This post was edited on 9/29/22 at 9:52 pm
Posted on 7/5/16 at 3:10 pm to Ice Cream Sammich
quote:Sure about this? I thought it was just trustees
all trustees and successor trustees
Beneficiaries? Am I gonna have to print my 3 yr old?
This post was edited on 7/5/16 at 3:13 pm
Posted on 7/5/16 at 3:27 pm to Uncle JackD
quote:
successor trustees
quote:
Sure about this?
Yes.
quote:
Beneficiaries?
No.
quote:
Am I gonna have to print my 3 yr old?
What category does he fall into?
Posted on 7/5/16 at 3:33 pm to Ice Cream Sammich
quote:Damn.. I need to amend my trust. My successor lives an hour away.. Can a trustee also be a successor trustee?
Sure about this?
Yes.
quote:Beneficiary
What category does he fall into?
Posted on 7/5/16 at 3:41 pm to Uncle JackD
quote:
Can a trustee also be a successor trustee?
No.
I just stripped mine down. I still have more people on it than I would like, but each person has their place.
quote:
Beneficiary
No fingerprints for the 3 year old.
Posted on 7/5/16 at 4:07 pm to Ice Cream Sammich
(no message)
This post was edited on 9/29/22 at 9:52 pm
Posted on 7/5/16 at 4:13 pm to Papercutninja
quote:
the successor trustee has no right to any of the items until all other trustees are incapacitated
So if they did the Successor Trustee would have to get fingerprints and photo? About to go read mine now.
Posted on 7/5/16 at 4:19 pm to civiltiger07
Ok cool.
My nephew is the beneficiary, so nothing needed for him. I only have a successor trustee, and then myself as the settlor/trustee. This amendment really isn't a big deal in my case. I'm pretty sure the gov already has our fingerprints and pictures.
My nephew is the beneficiary, so nothing needed for him. I only have a successor trustee, and then myself as the settlor/trustee. This amendment really isn't a big deal in my case. I'm pretty sure the gov already has our fingerprints and pictures.
Posted on 7/5/16 at 4:34 pm to Papercutninja
So after this comes into effect, can you just get a trust made with just you on it, get the item, then amend the trust? Assuming you will only get one thing under the trust?
Posted on 7/5/16 at 8:59 pm to CarRamrod
(no message)
This post was edited on 9/29/22 at 9:52 pm
Posted on 7/5/16 at 9:11 pm to CarRamrod
Nothing wrong with this at all. I have my wife as a trustee because I have several nfa firearms not in the safe for SD. Once I get tired buying and paying $200, I'll finalize my trust.
Posted on 7/6/16 at 11:53 am to Papercutninja
ok well Papercut, now im not as worriedi have been wanting to get one or 2 for a while and this amendment came up quick. I will get with you when i am ready to do my purchase once the rush dies down.
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