updating trust

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  • Melnic

    Ultimate Member
    MDS Supporter
    Dec 27, 2012
    15,282
    HoCo
    OK,
    I have 2 stamps, looking to post another form1.
    Do I need to update my trust with the items I have stamps on before sending it in on another form 1?
    thx
     

    dontpanic

    Ultimate Member
    Jul 7, 2013
    6,631
    Timonium
    Yes.

    You are suppsed to upload your trust complete with all schedules. If you do not update it with your NFA items, it will not be complete.
     

    Melnic

    Ultimate Member
    MDS Supporter
    Dec 27, 2012
    15,282
    HoCo
    Yes.

    You are suppsed to upload your trust complete with all schedules. If you do not update it with your NFA items, it will not be complete.

    Put them on the one page I have that has the list of items (which was originally blank) or attach my new form1s?
     

    dontpanic

    Ultimate Member
    Jul 7, 2013
    6,631
    Timonium
    Put them on the one page I have that has the list of items (which was originally blank) or attach my new form1s?

    Just update that page as you receive your stamps. With my trust it is the Schedule A. The ATF already has copies of your stamps.

    When I upload my trust when efiling, I have to upload 5 files to stay in thier size requirements. I keep the sch A as its own file. That way, it is the only document I need to scan to update my trust.
     

    fabsroman

    Ultimate Member
    Mar 14, 2009
    35,852
    Winfield/Taylorsville in Carroll
    Just update that page as you receive your stamps. With my trust it is the Schedule A. The ATF already has copies of your stamps.

    When I upload my trust when efiling, I have to upload 5 files to stay in thier size requirements. I keep the sch A as its own file. That way, it is the only document I need to scan to update my trust.

    Scan the document at a lower resolution. My trust is about 15 pages long and I can submit a single pdf document to the ATF when I submit a Form 1.

    OP - It depends on whether you have actually built the item in question. Just because you receive a stamp does not mean that you actually have the item in your possession. The stamp gives you the go ahead to build the item. So, if the item is built, list it on Schedule A, or if you possess the receiver to build the item list it on Schedule A. If it is not built, then the only asset the trust has is the tax stamp for the item, not the actual item.

    While it wold suck to get hit by a bus right after changing Schedule A, it would suck for the trustee if the items do not exist and he/she has to go on a wild goose chase with no pot of gold at the end of the rainbow.

    Remember, a trust isn't just to obtain NFA items, but it distributes those NFA items to the people you designate upon your death.
     

    quattroginger

    Active Member
    Feb 22, 2013
    188
    Just update that page as you receive your stamps. With my trust it is the Schedule A. The ATF already has copies of your stamps.

    When I upload my trust when efiling, I have to upload 5 files to stay in thier size requirements. I keep the sch A as its own file. That way, it is the only document I need to scan to update my trust.

    how many pages is your trust? mine is 18 total with all schedules and fits into 1 pdf i upload.
     

    SneakySh0rty

    Active Member
    Aug 22, 2013
    608
    Pasadena
    Just update that page as you receive your stamps. With my trust it is the Schedule A. The ATF already has copies of your stamps.

    When I upload my trust when efiling, I have to upload 5 files to stay in thier size requirements. I keep the sch A as its own file. That way, it is the only document I need to scan to update my trust.

    I understand that this can be done. I am somewhat computer illiterate and considered it a great victory to scan and save it at all.

    I am very computer literate and actually do the same thing (but only 3 docs). One for just the actual trust, another pdf for updating property, and the last one is my schedule A. When I get forms back I literally just type in the updates on the updating property and schedule A pages. Only time I'd need to actually rescan anything is if I want to make amendments to my actual trust.
     

    Sticky

    Beware of Dog
    MDS Supporter
    Mar 16, 2013
    4,501
    AA Co
    Not all trusts have a 'schedule A' included with them, my trust does not. All I need to do is to assign something to the trust related to the item that I want to make (I mostly do form 1's) and include that on my 'assignment sheet'. I do not have a section or addendum to the trust that lists the items that are owned by the trust. The ATF already knows that.. lol
     

    Melnic

    Ultimate Member
    MDS Supporter
    Dec 27, 2012
    15,282
    HoCo
    Mine has a Schedule A
    It has a signature and date at the bottom
    So I need to make a new page, add the items then sign and date it again
     

    Pinecone

    Ultimate Member
    MDS Supporter
    Feb 4, 2013
    28,175
    I have not submitted the Schedule A and had the stamp approved.

    BATFE KNOWS what NFA items you have. :)
     

    outrider58

    Eats Bacon Raw
    MDS Supporter
    Jul 29, 2014
    49,815
    I have not submitted the Schedule A and had the stamp approved.

    BATFE KNOWS what NFA items you have. :)

    ^^^This. Remember, your first NFA purchase had no Sched-A on it. They have your info there at their finger tips. I believe Sched-As are for FTF audits(like a bound book). IANAL
     

    Pinecone

    Ultimate Member
    MDS Supporter
    Feb 4, 2013
    28,175
    I know I also submitted one with the Sch A not showing some items that had cleared. No problems.
     

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