Armory Sponsor
Posted: 6/24/2014 12:34:03 PM EDT
|
Ok, I'm sure this has been asked before, but I could not find a thread on it. I have an NFA Trust that has myself, my wife and her father in it. Her father lives in Ohio and we live in TN. Can he keep some of the items (a suppressor and an SBR) at his residence in Ohio if he filled out the 5320.20 for a permanent change of address? Thanks! |
|
I would think it depends on how your trust is worded.
Mine states that one of the responsibilities of the primary trustee is to maintain ownership and safety of the trust property (or something to that effect). IANAL, but I think if you filled out the 5320.20, you would have to send ALL your SBRs to him. Suppressors do not need a .20 The TRUST is the entity, remember. If you fill out a .20, you are changing the address for the TRUST (which in my case, is the primary trustee). Best bet is to contact the lawyer who wrote your trust. It may or may not need to be amended. |
|
I think we will contact the lawyer just to be on the safe side. I just submitted the Form 4's today, so we have a bit of a wait until we need an answer anyways! lol
But, here is what my trust says. Duties of Original Trustee: "To handle all trust assets with reasonable care and preserve them on behalf of the trust." "Stay acquainted with all laws, rules and regulations under NFA" (paraphrased) Now here is the part that makes me think he can move an item to Ohio. But, I'll double check with a lawyer. Rights of the Trustees: "Any Trustee shall, with the express consent of the Original trustee or any Successor Trustee, have the right to use and possess trust property." |
|
Quoted:
I think we will contact the lawyer just to be on the safe side. I just submitted the Form 4's today, so we have a bit of a wait until we need an answer anyways! lol But, here is what my trust says. Duties of Original Trustee: "To handle all trust assets with reasonable care and preserve them on behalf of the trust." "Stay acquainted with all laws, rules and regulations under NFA" (paraphrased) Now here is the part that makes me think he can move an item to Ohio. But, I'll double check with a lawyer. Rights of the Trustees: "Any Trustee shall, with the express consent of the Original trustee or any Successor Trustee, have the right to use and possess trust property." I'm under the impression that any lawful trustee can maintain possesion/control of any item. Therefore, multiple permanent locations are acceptable. Again, just my impression. Will you let us know what the lawyer says? Thanks! |
|
Quoted:
I would think it depends on how your trust is worded. Mine states that one of the responsibilities of the primary trustee is to maintain ownership and safety of the trust property (or something to that effect). IANAL, but I think if you filled out the 5320.20, you would have to send ALL your SBRs to him. Suppressors do not need a .20 The TRUST is the entity, remember. If you fill out a .20, you are changing the address for the TRUST (which in my case, is the primary trustee). Best bet is to contact the lawyer who wrote your trust. It may or may not need to be amended. Quoted:
I would think it depends on how your trust is worded. Mine states that one of the responsibilities of the primary trustee is to maintain ownership and safety of the trust property (or something to that effect). IANAL, but I think if you filled out the 5320.20, you would have to send ALL your SBRs to him. Suppressors do not need a .20 The TRUST is the entity, remember. If you fill out a .20, you are changing the address for the TRUST (which in my case, is the primary trustee). Best bet is to contact the lawyer who wrote your trust. It may or may not need to be amended. Unless your state requires the trust to have a physical address, you are off base. My trust does not list my physical/mailing address. Only the Form 1/4s that I have submitted have my address on them. As it was explained to me by the lawyer (who is not new to the NFA scene) who amended my trust , as long as the trustee is in an NFA friendly state (and doesn't have some weird law that only recognizes certain NFA items), they can possess a trust owned NFA item. All that needs to be done (in the case of items other than cans and AOW's) is the 5320.20 showing that the item will be crossing state lines, but not making a permanent change. Just make sure that you give yourself plenty of time to submit each year. If the GRANTOR (or whatever your trust language uses to indicate the person or persons who are initiating the trust) is moving across state lines, then the 5320.20 would be filed to show the item is not going to be returning to original address listed on the Form 1/4 or any address previously submitted as a new, permanent address. But as was said, consult the attorney who drafted your trust and follow THEIR advice. Quoted:
I'm under the impression that any lawful trustee can maintain possesion/control of any item. Therefore, multiple permanent locations are acceptable. Again, just my impression. Will you let us know what the lawyer says? Thanks! When an NFA item is created or transferred, you have to list the physical address of where the item is being made or transferred to. If that changes and is a permanent INTERSTATE move (such as relocating for a job, or when under military PCS orders), then the BATFE requires you to file a 5320.20 indicating that the move from the listed address to the new address is permanent. If a trustee is only using an NFA item in another state, then the 5320.20 would indicate the change is NOT permanent, as a trustee CAN be removed from a trust and any trust assets in their possession would either return to their permanent state or could be moved to another trustee in an NFA friendly state, with a approved 5320.20 showing the item is again being used in a state outside of the residence of the grantor. Just make sure you stay on the ball about getting your non-permanent move 5320.20s approved before they expire. Again, that is my understanding from the lawyer who amended my trust. Follow the advice of YOUR lawyer. |
Armory Sponsor