Armory Sponsor
Posted: 3/17/2010 10:48:26 AM EDT
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I am looking to transfer a couple NFA items from one of my INC to a new LLC that I am creating. They will be both in my name and I am an officer of both corporation. I am hoping to transfer from one to another so I can offically close one company down. Anyone knows if this will fly with ATF?
The only other thing I can think of is transfer to the other LLC that my wife is also an officer/agent of (which I will also be an officer of). Hmmm, any ideas/suggestions??? |
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Quoted:
I think you'll have to use Form 4. Simply transferring from your corp to your llc doesn't meet the requirements for a tax-free Form 5 transfer. Correct. It would be a transfer which requires a $200-tax-due Form 4 for each item. (I missed the "Form 5" part.) |
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Quoted:
Pardon my hijack, but the thread is about Form 5. I am moving from CO to VA and want to know if I need to do a form 5 for my suppressor. If so, do I do it before I move or after I move? If after I move, is there a grace period? Thanks. No, not a Form 5. You are not transferring it to someone else. For a suppressor, you don't have to fill out a request to travel with it interstate. As a matter of course, the ATF likes it if you notify them if the address permanently changes. You can do this in one of two ways. You can send a letter notifying them of the permanent address change, or you could fill out a 5320.20 and check "No" where it asks if this item will be returned to it's previous location, and in the reason for transport box put, "Permanent move to VA." ETA, because you are not REQUIRED to notify them for a suppressor or AOW, you could fill out the form at any time. If it was an MG, SBR, SBS, or DD you would have to fill out the form ahead of time and wait to get it back approved before transport. |
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Quoted:
Quoted:
Pardon my hijack, but the thread is about Form 5. I am moving from CO to VA and want to know if I need to do a form 5 for my suppressor. If so, do I do it before I move or after I move? If after I move, is there a grace period? Thanks. No, not a Form 5. You are not transferring it to someone else. For a suppressor, you don't have to fill out a request to travel with it interstate. As a matter of course, the ATF likes it if you notify them if the address permanently changes. You can do this in one of two ways. You can send a letter notifying them of the permanent address change, or you could fill out a 5320.20 and check "No" where it asks if this item will be returned to it's previous location, and in the reason for transport box put, "Permanent move to VA." Thanks. A dealer I know must have pulled Form 5 out of his... So 5320-20 would be a courtesy to the ATF, but not required for a suppressor? |
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Quoted:
So 5320-20 would be a courtesy to the ATF, but not required for a suppressor? It's not so much a courtesy as it is a document useful to you if you ever have to show LE your paperwork. A Va. cop may not understand that suppressors don't require any federal documentation to transport interstate, the way other NFA items do. |
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