Possible May Rule Change

[BenL]

I have a 45Tirant is stamp jail, and should receive my permission slip some time in June. I bought this on a trust. Will that be an issue if they make a rule change for trusts in May, or because my application is already in, I'll get through?

 

[swinokur]

To the best of my knowledge, ATF still has not issued any kind of ruling on Trusts, including a date that it might be changed.

IANAL

 

[Wayne1one]

That's a funky title you got there! I wouldn't worry too much since your pending date would prove that you submitted prior to any "rule" change. At the rate stamps are coming back you might have yours prior to June.

 

[swinokur]

^^^^^^^^^^

THIS

 

[erwos]

It would be a nightmare for the BATFE to refund and reject all those pre-change forms. Definitely expect the already-submitted forms to be grandfathered.

 

[tc617]

Hasn't the "ATF rule change concerning NFA trusts" been the rumor for the past few years? What's different this year?

 

[swinokur]

IIRC they postponed issuing a ruling until 2015.

It's now 2015.

expect something this year. But no decision or date AFAIK.

 

[pwoolford]

Time to submit the last couple SBR forms I should ever need then. Trusts make ownership so much easier...figures they would eliminate them!

 

[swinokur]

IIRC they are not eliminating trusts. They are proposing that trusts be subject to CLEO sign off and prints be required exactly like individual ownership, which basically defeats one of the reasons for getting them in the first place.

 

[pwoolford]

IIRC they are not eliminating trusts. They are proposing that trusts be subject to CLEO sign off and prints be required exactly like individual ownership, which basically defeats one of the reasons for getting them in the first place.

That is good news. I was more concerned with making it easier to pass my toys to my kids and less crap for them to deal with. I think I'll still SBR the last couple lowers I hope I'll ever need now!

 

[BenL]

IIRC they are not eliminating trusts. They are proposing that trusts be subject to CLEO sign off and prints be required exactly like individual ownership, which basically defeats one of the reasons for getting them in the first place.

Right, not eliminate, but change the requirements virtually negating the advantage of a trust.

I had read somewhere that the decision was supposed to come down May of this year.

 

[BenL]

That's a funky title you got there! I wouldn't worry too much since your pending date would prove that you submitted prior to any "rule" change. At the rate stamps are coming back you might have yours prior to June.

May, as in the month. I had read somewhere that May 2015 was when they were going to rule. (Could just be interweb folklore, which I am now contributing too. )

 

[daNattyFatty]

May, as in the month. I had read somewhere that May 2015 was when they were going to rule. (Could just be interweb folklore, which I am now contributing too. )

According to guntrustlawyer's Nov 7 posting, he states that BATFE doesn't expect a ruling until May 2015 at the earliest.

http://www.guntrustlawyer.com/category/atf-batfe

 

[Pinecone]

And the "loophole" they are trying to fix, is that a prohibited person could be made a trustee.

So it may be a one time fingerprinting for each trustee in the trust. So, in that case, a trust would still be a good thing.

But no way to tell now.

And BATFE will have to propose what they want to do, and open it for comments.

 

[ironpony]

Will they be pissed if they don't get their ammo ban? Where do these comments wind up? Just wondering.

 

[swinokur]

They'll get their ammo ban and then it will end up in Federal District Court.

In my non legal opinion, they have a better legal position for changing the trust requirements than they do for an ammo ban.

But iANAL.

 

[cap6888]

To get in before any issues, can you just get a bunch of stamps approved now, the. Just take a year of two to complete the builds?

 

[Pinecone]

Yes, you can. You do not need to do anything when you get the stamp. It is permission to do whatever, when ever you want.

And the comments go into the official record of how they arrived at their decision, and they have to address EVERY comment made (can be done as XX comments received saying THUS, and YY comments saying THIS).

And yes, ammo ban is likely to end up in court.

They have been DIRECTED to make changes to the trust situation. So it WILL happen. Although, they can drag their feet.

 

[Hansohn Brothers]

For the full text of the changes, go here: http://www.gpo.gov/fdsys/pkg/FR-2013-09-09/pdf/2013-21661.pdf

Don't forget these changes were asked for by the National Firearms Act Trade and Collectors Association (NFATCA).