Hi all! I have a few questions regarding NFA in Maryland/general...
1) Hypothetically, say I have NFA items in my possession, registered to me, and I just found out I will have to move to a very anti-2A state and can't take my NFA items with me. I know one thing you can do is leave your items with a close friend/family in your current state, locked up. Or you can rent a safety deposit box at a bank in MD. BUT, what are my options if I don't wish to do any one of these? I have family in other friendlier states; can I let them keep my NFA items, or do these items need to remain in MD? If not, should I initialize a transfer to a family member for them to hold my items, or is that considered a straw purchase/some kind of law-breaking? Would any of the answers to the above questions change if I have a trust set up in MD with NFA items in it, and some of my beneficiaries are out-of-state?
2) Hypothetically, say I am awaiting approval of an individual-submitted Form 4, and once again, I receive news that I am moving to a state that does not allow any NFA items. Upon Form 4 approval, can I complete the transfer if I no longer have my MD residence? I would assume not...but then what happens to the NFA item; would it be similar to if your Form 4 comes back disapproved? And if your Form 4 is approved and you still currently hold a residence in MD and can complete the transfer into your name, we would default to the issues raised in Question 1, correct? Would any of this change if I had a trust set up in MD? Would any of the answers to the above questions depend on the nature of the NFA item?
Thank you for your patience, and any insight would be appreciated. Needless to say, I had been seriously considering taking the plunge into NFA right up until a few days ago when I found out I may have to move out of MD sometime next year! Couldn't have happened at a better time... haha.
1) Hypothetically, say I have NFA items in my possession, registered to me, and I just found out I will have to move to a very anti-2A state and can't take my NFA items with me. I know one thing you can do is leave your items with a close friend/family in your current state, locked up. Or you can rent a safety deposit box at a bank in MD. BUT, what are my options if I don't wish to do any one of these? I have family in other friendlier states; can I let them keep my NFA items, or do these items need to remain in MD? If not, should I initialize a transfer to a family member for them to hold my items, or is that considered a straw purchase/some kind of law-breaking? Would any of the answers to the above questions change if I have a trust set up in MD with NFA items in it, and some of my beneficiaries are out-of-state?
2) Hypothetically, say I am awaiting approval of an individual-submitted Form 4, and once again, I receive news that I am moving to a state that does not allow any NFA items. Upon Form 4 approval, can I complete the transfer if I no longer have my MD residence? I would assume not...but then what happens to the NFA item; would it be similar to if your Form 4 comes back disapproved? And if your Form 4 is approved and you still currently hold a residence in MD and can complete the transfer into your name, we would default to the issues raised in Question 1, correct? Would any of this change if I had a trust set up in MD? Would any of the answers to the above questions depend on the nature of the NFA item?
Thank you for your patience, and any insight would be appreciated. Needless to say, I had been seriously considering taking the plunge into NFA right up until a few days ago when I found out I may have to move out of MD sometime next year! Couldn't have happened at a better time... haha.