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Author Topic: OK finally ready to take the plunge - Is there an idiot's guide to the form 1?  (Read 745 times)

PogoJack

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I set up a trust. I know that it's of limited value nowadays, but I am going to do it as an exercise.

My understanding is that you can build something like an AR pistol, then apply for a stamp and then you can convert to an SBR. Also heard you could change from pistol to SBR if it was initially a pistol.

I definitely don't want to get into trouble, so should I just get a stripped receiver and start from there instead?

Anyhow the basic steps as I understand it for getting this done with my trust...

1. Fill out 3 copies of Form 1
2. Send a copy to CLEO along with 5320.23 for me and my wife on the trust (Do I need to send our photos and FD-258 fingerprint form too?) (Who is the CLEO, the local police chief if I live in a city/town or the county Sheriff? I am in Maricopa County.
3. Send a copy of Form 1 with my wife's and my pics and 2 FD-258 prints for each of us
4. Include check for $200 tax stamp (Does it have be personal check, and is it really necessary to make a bank account for the trust from which to draw this?)
5. Wait for the tax stamp
6. Engrave the trust name on the receiver
7. Build the SBR
8. Get a copy of the tax stamp and keep it with my Form 1 copy and my trust wherever I take the SBR.

Sorry for all of these basic questions, but of course, it has to be done right.

Thanks you for your time and expertise.

ArizonaGunOwners.com

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    GTGallop

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    The only thing that separates man from animal is our affinity for toilet paper.
    Once we, as a society, lose that affinity, we begin to descend back into the animal kingdom, and after three or more days you will find the food chain beginning to invert on itself.

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    ynotaz

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    Form 1 can be done electronically.  If you have a 5320 that means you have a trust, trust can be scanned and attached to form.  Haven't done one of these recently but I think fingerprint cards can be mailed with the number assigned to your application. 

    Electronic is 10 times faster than paper.    Since I haven't done a Form 1 since they brought it back up online I look forward to anyone jumping in with more detail.
    I gotta think about a new sig.  Hmmmmm?

    Clifffalling

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    TFB (the firearm blog) has a series on how to do it. Step by step with screen shots.
    I personally think a person could make money helping people apply. Kind of like those people that help kids apply for college.
    Flagtaff: Poverty with a view.

    CMore

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    It is pretty simple to submit it on line and they will send you an email read the instructions in the email and send in 2 copies of fingerprints of each person on the trust.   Print out a copy of the form 1 and send it to the local LEO, your choice either the police or sheriff.   Payment will be done on line too.  To get started go to  https://eforms.atf.gov/EForms  and register and if you have any questions feel free to "Ask the Experts"
    K1CJM

    GTGallop

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    That's the part I've been trying to figure out - Payment.  I never know what is the "gubment's share" and what goes to all of the people in the middle.
    The only thing that separates man from animal is our affinity for toilet paper.
    Once we, as a society, lose that affinity, we begin to descend back into the animal kingdom, and after three or more days you will find the food chain beginning to invert on itself.

    https://www.qrz.com/db/n5mkh

    ynotaz

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    Gubermint's share  is always $200 for each Item.
    I gotta think about a new sig.  Hmmmmm?

    GTGallop

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    Even for the trust?
    The only thing that separates man from animal is our affinity for toilet paper.
    Once we, as a society, lose that affinity, we begin to descend back into the animal kingdom, and after three or more days you will find the food chain beginning to invert on itself.

    https://www.qrz.com/db/n5mkh

    ynotaz

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    Yep $200 per registered item, trust, corporate, or individual.  Only thing different on the trust or corporate is the 530, photo, and prints for each "responsible party"  The only outstanding question I know of concerning trusts and I mention it because the OP said him and his wife so I assume a trust:  Some people have argued that a "successor trustee" must be included as a responsible party. 

    I'm not an attorney but several attorneys I know have said that is bull.  I have not seen an ATF response to this either way, and we all know they can and often do specialize in bull, like calling a bump- stock a "machinegun".

    I would go based on the assumption that any successor trustee is NOT a responsible party, if they balk I would demand their position in writing.

    Adding one other point, if in a trust, you as the "grantor" in the trust are funding the trust.  The asset you acquire will be placed in the trust.  You can use any method that ATF accepts to pay the tax.  Ignore all that crap about opening a separate checking account in the name of the trust, or getting a cashiers check from the trust to ATF, you will have put the money in the checking account or paid for the cashier's check out of your pocket so all that extra effort is mental masturbation.   
    « Last Edit: September 12, 2020, 08:03:21 am by ynotaz »
    I gotta think about a new sig.  Hmmmmm?

    870policemag

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    You can buy the proper finger print cards(Form FD-258) and ink on Amazon if you don't want to pay to be finger printed.
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    timelinex

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    Print out a copy of the form 1 and send it to the local LEO, your choice either the police or sheriff.

    Last time I dealt with this process, it was with a trust and before the changes that required fingerprints and LEO sign off. Much has changed.

    Does anyone have any recommendations on which to choose in our state? I figure the most 'distant' entity I can notify the better, so the sheriff would be best, versus the LEO of my small city.

    Anyone get a trust drafted locally, or recommend a specific trust? I used a free trust I found online years ago for my suppressors but if I am investing into a MG, I may want one that was professionally drafted?

    « Last Edit: September 25, 2020, 04:40:59 pm by timelinex »

    JK357

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    PogoJack

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    Awesome stuff.

    One little detail when making an SBR out of an AR pistol build...

    I believe NFA wants you to engrave the caliber on the gun (Lower receiver? Upper?).

    When you buy a stripped lower, they are usually engraved with "Multi-Caliber".

    What do you do about that? Do you have them obliterate that mark when they engrave your trust on it and then have them engrave the specified caliber, 5.56mm for example?

    The devil is in the details.

    ArizonaGunOwners.com

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