We have had several phone calls from our gun trust clients regarding ATF Rule 41F which will go into effect on July 13, 2016. For those persons whose Form 1 or Form 4 applications are pending prior to July 13th, there should be no effect on your purchase and application.
Beginning on July 13, 2016, anyone who submits their application (with or without a gun trust) to the ATF must submit the application with fingerprints and a 2” x 2” photo (like a passport photo) of all “responsible parties.” The photo must have been taken within one year prior to the date of the application. Each responsible party must also complete ATF Form 5320.23. In addition, you must provide a copy of the application and ATF Form 5320.23 to your local chief law enforcement officer (CLEO). Speaking on the trusts we prepare in our office, “responsible parties” are the Grantors and Trustees. Beneficiaries are not considered “responsible parties” because they are not given the authority “to receive, possess, ship, transport, deliver, transfer, or otherwise dispose of a firearm for, or on behalf of, the trust.” (Rule 47F, § 479.11 Meaning of terms)
If you are using our Trust and if you submit a subsequent application within 24 months of ATF approval of Form 1 or Form 4, the responsible persons should not need to resubmit fingerprints and photographs unless the trust has been modified within that time period.
If you have any questions regarding this new Rule, feel free to call our office.
Latest Posts
HOA DUES
What can I do to stop my HOA dues from increasing? Unfortunately, when an HOA is faced with many non-paying homeowners and potential deficit spending, they...
REAL PROPERTY INTERESTS
WHAT ARE FREEHOLD ESTATES? Freehold estates are possessory interests in land of indefinite duration. The duration of a freehold estate may, however, be...
BENEFITS OF PURCHASING A LAND TRUST
A land trust is a legal device for holding any interest in real property in which legal and equitable title is transferred to a Trustee. There are several...