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Are These Fully Transferable?


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#1 catnipman

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Posted 07 March 2005 - 07:23 PM

So, I've been dickering with a local PD department regarding a couple of FA firearms they have on Form 5's dated 1977 that they have been representing as fully transferable. The guns themselves were obtained directly from a US manufacturer in 1977 by the PD and were domestically manufactured.

Are these fully transferable?
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#2 Jay Baker

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Posted 07 March 2005 - 08:09 PM

Manufactured before May 1986 and on Form 5, I'd say yes. Goverment agencies can transfer to individual on Form 5 tax free. Go for it---or call me, please.
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#3 full auto 45

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Posted 07 March 2005 - 09:20 PM

Let me know also. I need 1 more gun. Just one. I'm not greedy.
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#4 amafrank

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Posted 07 March 2005 - 10:49 PM

If the PD bought them at that time from US manufacturer then they should be transferable. The best thing to do in any case is buy them and do a form 5 transfer to yourself (if they are in your state). The transfer from the PD is tax free on the form 5 but if they are in another state you will most likely have to go through a class 3 dealer. If thats the case you will pay the $200 transfer tax from your dealer to you while the transfer from the PD to him is tax free on form 5.
If the guns are not transferable then the ATF will inform you and you have no real loss.
If you need some paperwork help let me know. I have done a few of these transfers and know the forms to use etc....

Frank
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Indy, IN
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#5 full auto 45

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Posted 08 March 2005 - 11:31 AM

Frank did one of mine. Highly recommended.
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#6 catnipman

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Posted 08 March 2005 - 12:39 PM

Thanks to everyone who replied, particularly amafrank's offer. I called NFA this morning and they confirmed that what I am looking at is fully transferable based on the information I gave them from the Form 5's.

They also confirmed I can use a Form 5 for a tax-free transfer! Reading the Form 5 instructions, it looks like I still need the fingerprint cards, photo, and CLEO signoff, since I am doing the transfer as an individual. None of these are a problem for me. I just bought an AC-556 and the NFA approval took under 60 days from the time the seller put the forms into the mailbox until the approval date on the license. I expect to take physical possession of that gun today!
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