Category Archives: Form 5

The ATF has finally posted updated guidance on 41F

We have been waiting for final guidance and approved forms from the ATF on the 41F implementation for some time and they have finally posted an update on their website which includes links to the new forms. Much of what they … Continue reading

Posted in 41F, 41P, ATF, BATFE, CLEO Notification, eForms, Form 1, Form 23, Form 4, Form 5, NFA Transfers, NFA Trusts | Comments Off on The ATF has finally posted updated guidance on 41F

We have another eForms update

Today the ATF announced that more forms are being returned to eForms over the next month. But … before you ask … Forms 3 and 4 are NOT included in the list. Perhaps most useful to NFA owners, Form 5 is … Continue reading

Posted in ATF, BATFE, eForms, Form 4, Form 5, NFA Trusts | Comments Off on We have another eForms update

At what age may I make or acquire NFA items?

This is a question that seems to arise at least once a week as I am speaking with clients and I think it would be beneficial to do a complete breakdown of the topic. For purposes of our analysis we … Continue reading

Posted in Age To Possess, ATF, ATF Guidance Letters, BATFE, Form 1, Form 4, Form 5, NFA Trusts | Comments Off on At what age may I make or acquire NFA items?

Do I need to submit a 5330.20 if I am using eForms?

For those of you who are not familiar with ATF Form 5330.20, it is also known as a Certification of Compliance with 18 U.S.C. 922(g)(5)(B). For those who are still lost, it is a form on which an NFA applicant … Continue reading

Posted in ATF, BATFE, eForms, Form 1, Form 4, Form 5, NFA Trusts | Comments Off on Do I need to submit a 5330.20 if I am using eForms?

ATF releases current processing times for applications

ATF’s Office of Enforcement Programs and Services has posted a chart showing processing times  for certain submitted documents or forms. The current chart contains data through December 2013 and they do not make it clear whether data from the eForms … Continue reading

Posted in ATF, BATFE, eForms, Form 1, Form 4, Form 5, Processing Times | Comments Off on ATF releases current processing times for applications

The VSP has clarified the machine gun registration issue

Last week I wrote about a recent Attorney General’s opinion which stated that machine guns could not be registered to trusts in Virginia. At the end of that article, I noted that I was waiting for a callback from both the Virginia … Continue reading

Posted in AG Opinions, ATF, Form 4, Form 5, Machine Guns, NFA Trusts, Virginia Law | Comments Off on The VSP has clarified the machine gun registration issue

Currently machine guns cannot be registered to trusts in Virginia

** There is an update to this article ** In December of last year, I received several calls from NFA dealers who had been told by ATF employees that there was a change upcoming regarding the use of trusts to … Continue reading

Posted in AG Opinions, Estate Planning, Form 4, Form 5, Machine Guns, NFA Trusts, Virginia Law | Comments Off on Currently machine guns cannot be registered to trusts in Virginia

Will my beneficiaries have to pay a transfer tax when my NFA trust distributes my assets?

The short answer is “No. At least not currently.”  But that qualifier is an important part of the answer. Currently the ATF allows transfers of NFA items to devisees, heirs, or specified beneficiaries to be tax-free via a Form 5. The … Continue reading

Posted in ATF, BATFE, Estate Planning, Form 5, NFA Trusts | Comments Off on Will my beneficiaries have to pay a transfer tax when my NFA trust distributes my assets?