I’m planning an SBR build and was reading about gun trusts. Does it matter if I build the SBR first and then get the gun trust or should I surely get the gun trust first?

Do I have to pay and fill out another 4473 to move a gun into the trust?

Apparently, I’ve got more reading to do.

Get the Trust set up BEFORE you're ready to file the Form 1. If you file the Form 1 as an individual, you'd need to file a Form 4 (AND pay another Tax Stamp!) to transfer it to the Trust at a later date! Generally, as the Grantor/Trustee of your Trust, you can transfer property to the Trust at your discretion, and NO Form 4473 Transfer would be required to do that prior to the Form 1, however after it's a 'registered' NFA Firearm, that changes.

quote:

Originally posted by mark123:
I’m planning an SBR build and was reading about gun trusts. Does it matter if I build the SBR first and then get the gun trust or should I surely get the gun trust first?

Building the SBR first is a violation of federal law. You have to have either an approved Form 1 via e-file, or if snail mail, a tax stamp to actually commence construction. Trust first, then file Form 1, then wait ~30 days, then when you get the magic email or letter in the mailbox, start putting uppers and lowers together, or slapping stocks on pistols. Heavy D's trust is quick and easy and gives instructions for much of the process and myself or many here on SF would be happy to help walk you through the rest. I promise you it seems more daunting than it actually is. Just go slow, make sure you fill in exactly what's on the gun, don't rely on the auto-filled drop boxes populated with everyone else's incorrect submissions (Compuserve era web design), carefully check to make sure you didn't miss any of the "sign here" spaces like I did the first time, and submit it. Their site even allows you to save drafts before you submit, so you can quintuple check everything before you hit send like I did.

quote:

Originally posted by mark123:
Do I have to pay and fill out another 4473 to move a gun into the trust?

No, you just write down the make, model, serial number on the "assignment of property" page on your trust. Done.

If taking your SBR to another state, pick the city or town you'll be taking it to and fill out a 5320.20 form and you're good to take it anywhere in that state for a year from the calendar date when they approve it.

If moving to another state, fill out a 5320.20 form to inform the ATF of a permanent change of residence. If moving to another home within the same state, don't do anything because intrastate movement of an SBR isn't the ATF's domain.

+1 on the heavyd's trusts. Good to go....

quote:

Originally posted by P220 Smudge:
Building the SBR first is a violation of federal law. You have to have either an approved Form 1 via e-file, or if snail mail, a tax stamp to actually commence construction. ...

Well, I meant I’d get the Form 1 first and then build. I just wanted to know if I’d incur more costs by filing as an individual first and then transferring it to the trust later. It looks like that’s the case.

I don’t technically need the gun trust. This is surely the only SBR I’ll own. My interests are elsewhere.

quote:

Originally posted by mark123:
I don’t technically need the gun trust. This is surely the only SBR I’ll own. My interests are elsewhere.

The big thing is it being a matter of who can access it and use it. When you file as an individual, your family members can't access it and use it legally. You're not even supposed to leave it in a manner where they can. When filing as a trust, the people you include on the trust can access the NFA item legally, and it also makes inheritance stuff easier without them having to file anything when you pass. You just list your beneficiary on the trust, and as long as they're over 18 and can legally possess firearms, it goes straight to them. You can also add people outside your immediate family to your trust. For instance, I am on a close friend's trust, and he on mine.

There are a number of advantages a trust offers -- inheritance, use by other persons you have authorized, etc. In my county, an individual has to be approved by local law enforcement. Not so with a trust.

OK, I filed for my trust via heavyd. Now I've got to figure how to efile the Form 1.

When you get the trust, make sure you print it out, take it and get it notarized. This "executes" your trust.

My trust has been received and I've had it notarized. Looks like I'm ready to give .gov some money.