On January 15, 2016, the rule, known as 41F, was published in the
Federal Register by the Bureau of Alcohol, Tobacco, Firearms and
Explosives (ATF). This new rule, affecting the transfer of items that
are regulated by the National Firearms Act (NFA), will significantly
alter the way that individual members of “gun trusts” or “NFA trusts”
operate with regard to possessing NFA items.
The good news is that Dury’s Gun Shop will be able to do all of this here on sight to make things easy for our customers purchasing any NFA items.
Here are some important things you need to know about 41F.
While trust applicants were not required to obtain CLEO sign-off before, 41F mandates that they must notify their local CLEO of any manufacture or transfer of an NFA item.
Following the full implementation of 41F, trusts will still be eminently useful as means for inexpensively transferring NFA items to one’s descendants in the event of trust-holder’s death. In addition, trusts are still the most legally-sound method of responsibly sharing NFA items with others.
The good news is that Dury’s Gun Shop will be able to do all of this here on sight to make things easy for our customers purchasing any NFA items.
Here are some important things you need to know about 41F.
• Effective date: July 13, 2016
Though 41F was signed on January 4, 2016, it will have an effective date of July 13, 2016 – 180 days after being published in the Federal Register.• Requirements of a “responsible person” when submitting Form 1 or 4 applications
Rule 41F mandates that any responsible person submitting a Form 1 or 4 application, on behalf of a trust, must include- a 2×2-inch photograph of themselves taken within the year prior to the date of the application
- two fingerprint cards
- a completed NFA Responsible Person Questionnaire (ATF Form 5320.23)
- a copy of their trust
- $200 “tax stamp” check or money order made to the ATF (or a $5 “tax stamp” for AOW)
- a 2×2-inch photograph of themselves taken within the year prior to the date of the application
- two fingerprint cards
- a completed NFA Responsible Person Questionnaire (ATF Form 5320.23)
• Definition of “responsible person” as it applies to trusts
According to the rule, a responsible person is any member of a trust “who [has] the power and authority to direct the management and policies of the trust or legal entity to receive, possess, ship, transport, deliver, transfer, or otherwise dispose of a firearm for, or on behalf of, the trust or entity.” This definition effectively includes any individual who might be involved in the acquisition or construction of an NFA item.• Removal of the CLEO sign-off requirement
One of the good things to come out of 41F is the removal of the CLEO sign-off requirement for individual applicants. Now individual applicants simply need to submit a notification to their local CLEO by way of sending them a copy of all pertinent documents.While trust applicants were not required to obtain CLEO sign-off before, 41F mandates that they must notify their local CLEO of any manufacture or transfer of an NFA item.
• It is NOT retroactive
Any Form 1 (manufacture) or Form 4 (transfer) applications submitted to the ATF postmarked July 13, 2016 or earlier will be evaluated according to the current rules for making and transferring NFA items—even if your forms aren’t approved until after July 13, 2016.• Trusts still have value up to and after July 13, 2016
In the lead-up to July 13, 2016, gun trusts will still be just as advantageous to use as they are now.Following the full implementation of 41F, trusts will still be eminently useful as means for inexpensively transferring NFA items to one’s descendants in the event of trust-holder’s death. In addition, trusts are still the most legally-sound method of responsibly sharing NFA items with others.
