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Gun Trust Deadline is July 13th

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SuppressorsIf you have been considering forming a gun trust, you have until July 13th to do what I have done under current rules. After July 13th there will be more red tape when buying NFA items through a gun trust, as Robert Merting explains at The Shooting Channel:

After the recent Executive Order regarding the NFA, I have been asked many times: “Can I still set up a gun trust?”. You can, and the President alone cannot prevent you from doing this. He can only make buying a firearm more difficult for your trust.

Before July

Until July 13th, 2016 the current (i.e. old) rules are in effect. You can set up a trust and transfer your firearms into it with minimal paperwork. To use the old rules, your transfer application (Form 4) or making application (Form 1) must be postmarked by Tuesday July 12th, 2016. We do not suggest pushing off your purchase for this long, but if you do, be sure to send the paperwork via certified mail so you can prove when it was sent and received.

Submitting your paperwork before July 13th is a viable option for both existing trusts and any new trusts that are established.

July 13th and Beyond

Trusts will still be able to buy or make firearms (including suppressors) after July 12th, 2016. However, applications submitted on or after the 13th of July will require additional documentation. While this will not prevent you from acquiring new firearms, we certainly realize that the inconvenience may warrant going ahead and purchasing firearms prior to July 13th, 2016.

New Forms and Paperwork for Transfers

For all transfers on or after July 13th, including making applications, every “responsible person” (to be discussed in a later post) will have to submit:

  • a Form 23 including a 2″x2″ photograph of the “responsible person”; and
  • duplicate FBI Forms FD-258 fingerprint cards.

These documents on the “responsible persons” will be in addition to the Form 4 (or other appropriate form) and documentation necessary to show the existence of your trust.

The photographs must be taken within the past year and show the bare head of the “responsible person.” Essentially, these are the same style photographs used for passports, and any passport quality photographs should suffice.

The FBI Form FD-258 fingerprint cards are the same fingerprint cards commonly used for concealed weapons permit. These can normally be acquired at a local police station, but many CWP instructors also complete these cards.

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E.J. Smith - Your Survival Guy

Preparing your investments and family for when disaster strikes.
E.J. Smith is the Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention. E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@youngresearch.com. Sign up here to receive all the best content from Richardcyoung.com each week.

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