Category Archives: Form 5

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

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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

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