Transfer question

[cubguy]

Thanks to posts on this forum, I see that if I get my C&R FFL a 1921 on a form 4 can transfer straight to me.

This saves a second waiting period to go into a trust after it goes to a class 3 dealer. Do I have this right?

[Chief762]

The first sentence in your statement is correct. However I don't believe a C&R FFL and a trust are compatable. You can have one or the other, but not both. Others may want to comment here if I'm mistaken.

Chief762

[darrylta]

You're correct on that Chief, I once had a C&R Trust license. When the ATF caught wind on what they had done, I got a knock on the door

asking me to relinquish it, I complied :-)

 

Of course your trust can encompass your guns and other and any other wealth, but the guns have to registered to a living breathing individual.

Darryl

[cubguy]

Thanks Guys,

 

I worded it poorly, what I'm thinking is no trust for now.

Just apply for a C&R as a individual.

[cubguy]

I want to avoid waiting for 2 transfers, each taking 4 months or more each.

This way if I understand correctly, it can ship directly to me as a C&R FFL or I guess I could pick it up

once approved.

[darrylta]

The non C&R route would cost another $200 tax stamp, I think the SOT to SOT transfers are taking between 3 and 4 weeks.

I'm sure others will chime in.

Darryl

Edited April 7, 2015 by darrylta

[cubguy]

Thanks Darryl

 

If that's the case it's about the same waiting time as getting

a new C&R so I would not be saving much if any time. I was

thinking it took about the same time to go dealer to dealer as

it takes to go from a dealer to a trust or individual.

[cubguy]

To clarify, can you have a trust and a C&R separately?

But a trust cannot have a C&R within it, is the right?

[Chief762]

I think that is correct. You may transfer your C&R NFA guns into a trust, but it will take another form4 and tax stamp to do it.

Edited April 7, 2015 by Chief762

[buzz]

Only a person can hold a C&R license. A trust isn't a person.

 

My preference is to own everything as an individual. I would not use a trust unless my local cops would not sign off on the transfer form.

 

Most of what people say about trusts is BS from lawyers who are trying to sell you a trust.

 

Check this out, I got it from another website:

 

"If you register as an individual, you have to be present whenever the NFA item is out of your safe."

 

That is a flat out lie. You don't even need to own a safe.

 

You can read all kinds of stuff like that on all the gun boards now.

Edited April 7, 2015 by buzz