Jump to content
308AR.com Community
  • Visit Aero Precision
  • Visit Brownells
  • Visit EuroOptic
  • Visit Site
  • Visit Beachin Tactical
  • Visit Rainier Arms
  • Visit Ballistic Advantage
  • Visit Palmetto State Armory
  • Visit Cabelas
  • Visit Sportsmans Guide

need some help with my first purchase


Magwa

Recommended Posts

Ok so i bought my first can and the dealer just got it in from the transfere so now it is in my state so i am filling out the paper work for my trust and it says to fill out a schedule A well i do not own any NFA item so do I fill one out or not? that is the only thing hanging me up from sending it in.. thanks

Link to comment
Share on other sites

I think that the schedule that you're referring to, is the one describing what you're adding to the trust. So you have to have it on there or you might be rejected. And there's nothing worse than waiting for months.....only to be rejected. Luckily....hasn't happened to me yet.

 

Is this the form that you're talking about? This is the one in my trust that I use to assign new stuff to the trust.

REED ASSIGNMENT TO REVOCABLE TRUST-RONALD REVISED.pdf

Edited by Rsquared
Link to comment
Share on other sites

yes mine is a little different but yes you put item, discription, and serial number on mine plue tax stamp and date issued, so my dilemma is do I write it on there and just say awaiting approval, where it says to put the tax stamp and issue date?

Link to comment
Share on other sites

Hmm. Sounds strange. Obviously you can't put a copy of the tax stamp on there without having it yet. And the stamp itself will be stuck to the front of the form 4. It's not like you can take it off......and you wouldn't want to. I'd ask your lawyer that set up the trust for you. I would think that he wouldn't charge you for a 2 minute question. But, you never know with lawyers.

Link to comment
Share on other sites

Yeah. It's part of the trust. You have to send the WHOLE thing (copy of trust that is) with every purchase along with the form 4. And with the form I showed you, I just had to add the new purchase to it. That's why I don't understand the whole "add tax stamp and date issued" thing.

Link to comment
Share on other sites

I was told NOT to put my can on the Schedule A until it was approved and stamp in hand. My lawyer set up my trust with $10 assigned to it upon creation, and had me get a $10 bill, add it to the Schedule A. That $10 bill now resides with my original paperwork in a safe deposit box, just in case someone wants to see it - I could also remove it as the Grantor, but kinda fun to have it.. With the $10 bill added at creation of the Trust, it showed the Trust owned something right away (or some fancy legalese he spoke) on the Schedule and has been sent in with all of my purchases.

 

Not a lawyer, did not sleep in a Holiday Inn Express, but that's what I was told. And I have read the same on the intertubes, and we all know it must be true then. :banana:

Link to comment
Share on other sites

if I recall right, what I was told by a lawyer is that when you first draw up the trust, you should put SOMETHING into it. Regardless of what that was, be it a firearm, reloading press, box of ammo whatever, so that the trust has ownership of an item for that schedule. Effectively he said the trust doesn't really exist from a legal perspective until it owns something, whether it is an NFA item or not.

Link to comment
Share on other sites

This is correct I found out today, If you read your trust when you sign it you should fund it also with money or whatever and that IS WHAT YOU PUT ON YOUR SHEDULE A. whatever your trust owned at the time of it's beginning is what should be on the schedule A mine is on it's way to Atlanta wake me up in 6 months my ears will love you...... thanks everyone this was a tough question and this post will have the answer for future can virgins...

Link to comment
Share on other sites

what build? please splain lucy....... :)

 

I am looking at one of these http://www.youtube.com/watch?v=Nh0fIIA77bw&feature=player_embedded I am not able to own a SBR in the lovely state I live in and do not want the extra 10" of can sticking off the rifle. Pretty much have all the parts needed for the upper build just need to send it all in and have them get started. I also might have to get another can for the MaTen and another .300 black that I have. Who can have just one :))

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...