Trusts, tax stamp, SBR

Looking to build my first SBR. I think my best option would be to put it under a trust and eventually I'd like to suppress it and possibly other firearms. I understand the form 1 from the ATF and know what parts I want. What I don't quite grasp is do i start a trust before the build, during the build, or after I build it as a individual and transfer it to the trust? Any recommendations for help with a trust? The silencer shop can't help as they only do form 4 and mainly silencers.

 

in general, before the build. I do have a question on why a trust vs individual. It will be more paperwork for a trust, and nowadays the only benefit is the stamped "item" can be carried/used by all trustees. Everyone would still have to be printed/photoed, and that can be a pain when people are hundreds of miles away

 

You should start the paperwork as soon as you have the serialized parted that are required. I.E. the lower receiver. Or just build it how you want, throw a SBA3 or SBA4 on it and call it a day, no government paperwork required.

 

The way it was explained to me was that if anything happens they'll be going after the trust rather than the individual, it's an insurance and legal protection thing. I don't fully understand it but that was the short explanation given to me at my LGS.

 

The trust makes everything other than the initial application easier. If you go on vacation and don't want the stuff sitting in your house then anyone on your trust can store/use it while you're gone. If you move somewhere the stuff isn't legal anyone on the trust can keep it elsewhere. If you leave the country for a period of time....etc. If you die the stuff just passes to the trust beneficiaries rather than belonging to no one legally.

OP - you can make the trust at any time but it needs to be established prior to submitting the Form 1 or 4, which must be done prior to acquiring or building the SBR or suppressor anyway.

 

the form 5 (or is it 6) allows you to pass it to beneficiaries with no charge, so that part is negligible. And yes to the rest, but it doesn't make sense unless you have multiple people on the trust. All 15 of our stamped items are on a trust, so I know the benefits, but we haven't done any stamps since 41F.

You still have to do a 5020.20 or whatev if you travel out of state, all other regs apply, just multiplied when you have 5+ people on the trust

 

when you set up a trust (state laws applying) you have a Schedule A, which denotes the property the trust owns. Since you DO NOT own the item you are applying for the tax stamp, you just put in a dollar or whatever

 

The 5020.20 is just done for the trust as a whole, not any of the individuals so it's still just a single form. I also haven't added anything to the trust since 41F due to the extra hassle.

 

okay, I've never actually done a 5020.20, so I didn't know that. And it only applies to firearms not cans, correct?

 

As far as I can remember it is not required for suppressors but I always list it anyway just to be safe. I don't usually just take a suppressor somewhere, it's usually going with a SBR. I also list the suppressors along with everything else on the forms when I move.

 

Going for the trust for the legal aspects, i.e. SBR in the house, wife uses it to take down a threat. Are there any reliable sources to help start the trust? Originally I wanted to do a AR pistol but since parts are hard to come by at the moment I figured why not go the SBR way. Not to mention my hesitation on trusting the government and the ATF not to change their mind on what is legal within the next few years.

 

I used Silencer Shop to set up my trust, not the One Shot trust, but they're local to me

 

I'd love to use them. They're extremely helpful and having things all in one spot makes it very convenient, however they said they couldn't do anything for me because it's a form 1 instead of form 4.

 

so what you need first is someone to set up a trust, not necessarily a one-shot like SS does, but one based on your state laws. My recommendation is to contact a local SOT, they are either going to know someone that can do it, or can even do it themselves. when SS did mine, one of the guys there was a notary, had a form to fill out for everyone on the trust, and $129 later it was done (actually $130, forgot the $1 of "real property" that needs to be on the trust". The trust they were selling ATT was drawn up by a local lawyer IIRC.

 

and btw, I don't think this says anything about it only being used on F4s bought from SS

NFA Gun Trust - Silencer Shop

 

No it doesnt. But..when I emailed them about what i wanted to do they said it wasn't possible. I think it's more along the lines of I'm not purchasing anything else through them except for the trust so things wouldn't really work correctly. Not really sure but they were nice and helpful on that matter. I'll check with a few of my LGS and see if they can point me somewhere local.