In today’s world with a proliferation of guns and almost instant transmission of significant gun crimes on virtually every news and social media platforms, manufacturers are expected to have perfect compliance, not substantial compliance. This is in accordance with their duty to fully assist with law enforcement needs at the local, state and federal level. This blog focuses on four simple compliance tips for manufacturers to stay in complete compliance with the GCA and NFA based on current enforcement trends. First, the A&D book should be complete and accurate at all times. In the ideal world, it should be in electronic ...
September 22, 2016Adam Hayes
While the implications of the nightclub shooting in Miami and law-making on firearms regulation are unknown, there are four new laws or court decisions every gun owner should know to avoid illegal actions and committing a crime. This blog post covers these changes. At the state level, and first, the General Assembly has modified Indiana’s law that has prohibited individuals and other legal entities from purchasing short barrel shotguns (SBS) by following the requirements of the federal law commonly known as the National Firearms Act. Until recently, Indiana had a law making sawed-off shotguns illegal and ATFE’s position is this prohibited ...
July 6, 2016Adam Hayes
As of July 13, 2016, NFA trusts will dramatically change. Those with NFA trusts or those that set them up after this time, will have very different requirements for acquisition of NFA items. This blog post covers three key changes. The first is that every member of the trust with control will have to complete a new form 5320.23 for each responsible person. The form essentially asks about the information contained on a 4473 form completed when someone purchases a firearm to determine if he or she is prohibited from possession. The second requirement is each such person must provide two classifiable ...
April 26, 2016Adam Hayes
Once established and recognized by the AFTE, an NFA trust can acquire additional NFA items. With machine guns in particular, the rarer variants have continued to climb in value since the 1986 ban, and may be constituted a good investment tool in uncertain market times. Thus, it is foreseeable that an NFA trust may be a good estate planning tool to pass on NFA firearms and value to beneficiaries under the trust. This noted, an NFA trust may continue to sell and acquire NFA firearms during the times of its existence. Where settlor’s and trustees of the NFA trust often make ...
April 3, 2014CD
A National Firearms Act trust is similar to a regular trust in that its ultimate use is to transfer the trust property upon the Settlor’s death or within a specified time period thereafter. The NFA trust is unique in that the trust assets are, among other things, NFA firearms. Part of the initial funding of the trust may be, upon approval by AFTE approval, NFA firearms. These firearms are machine guns lawfully registered before the May, 1986 ban under the Firearms Owners Protection Act. The other NFA property is generally comprised of short-barrel rifles, shotguns and suppressors, which may be integral ...
March 25, 2014CD