41F is here and it’s not that bad, read below.
If we produced a trust for you prior to July 2016 please go HERE
The ATF has implemented 41F. The good news is, it isn’t anywhere near as bad as we thought it was going to be. In fact the ATF made a huge change that is actually a really good thing. Keep reading.
41F is a set of rule changes that is intended to make the processing of a Trust with a Form 1 / Form 4 application be similar to that which an individual would have to go through when purchasing outside of a Trust. After reading 41F, it is very clear that purchasing/making Class III items with a Trust is still BY FAR your best option.
What you need to know:
- 41F kicked in on July 13, 2016.
- All applications ‘Pending’ (submitted) before that date ARE NOT affected by the rule change as it is not retroactive.
- A very GOOD CHANGE is that now beneficiaries of a Trust will be able to take distribution of Trust assets without having to pay for another tax stamp when that transfer takes place.
- 41F Requires the applicant(s) to attach the following to their application: A completed ATF Form 5320.23 for each responsible person. Form 5320.23 will require certain identifying information for each responsible person, including each responsible person’s full name, position, Social Security number (optional), home address, date and place of birth, and country of citizenship;
• 2 x 2-inch passport style photographs of each responsible person taken within 1 year prior to the date of the application;
• Two properly completed FBI Forms FD-258 (Fingerprint Card) for each responsible person (Co-Trustees).
- You and any Co-Trustees on the Trust are required when submitting a tax stamp application to notify the Sheriff, but WILL NOT require their “approval”. (“requires that a copy of all applications to make or transfer a firearm, and the specified form for responsible persons, as applicable, be forwarded to the chief law enforcement officer (CLEO) of the locality in which the applicant/transferee or responsible person is located; and eliminates the requirement for a certification signed by the CLEO”)
- Beneficiaries ARE NOT considered responsible persons.
- Successor Trustees with our Trusts ARE NOT considered responsible parties
- That means Beneficiaries and Successor Trustees will not have to do anything photo or fingerprint wise or sign anything when a Form 1 / Form 4 is submitted.
Bottom line take away, this isn’t as bad as we thought it was going to be, actually no where near as bad. A Gun Trust is best way to obtain Class III.
Download 41F here —- 41F