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ATF ruling on braces - Trusts and Shotguns

GlockDependent

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After reading the complete nonsense ruling ATF put out, I read a little into how they are allowing the “tax exempt” filing of braced “rifles” to SBR’s. In the FAQ sheet, it does NOT allow the trust to participate in an exemption UNLESS it has documentation of the braced weapon to the trust prior to the final rule. Included it also says you MAY register it as an individual and later Form 4 it to a trust or legal entity (BS to collect the $200 regardless. Also, they provided no clarification or allowance for braced shotguns and will not allow them to be registered as SBS under the exemption. I see this crashing and burning sooner than expected

Regarding Form1 and Trust

Shotguns (very bottom)
 
edited because I was not cor……fjb, fmg, fatf.
I should add. I hate reading lawyer language.
i have 6 or 7 I’ll have to register. I really don’t want to give them any money.
 
27. CAN I REGISTER MY SHORT-BARRELED RIFLE QUIPPED WITH A “STABILIZING BRACE” PURSUANT TO ATF FINAL RULE 2021R-08F TO MY TRUST?
Answer: In short, a trust may not register a firearm equipped with a “stabilizing brace” that is a short-barreled rifle pursuant to ATF Final Rule 2021R-08F unless the trust can establish through
documentary evidence that the trust possessed the firearm prior to the date the final rule is published in the Federal Register.
Under the final rule, the Attorney General has authorized a tax forbearance that allows current possessors of firearms equipped with a “stabilizing brace” that meet the definition of “rifle” and have a barrel or barrels less than 16 inches to register the firearms tax-free. A current possessor is a person who possessed the firearm with an attached “stabilizing brace” prior to the date the final rule is published in the Federal Register.
Accordingly, any trust that seeks to register a firearm with an attached “stabilizing brace” that is a short-barreled rifle pursuant to Final Rule 2021R-08F must include with the eForm 1 application evidence that establishes the trust possessed the firearm prior to the date the final rule is published in the Federal Register. This evidence will generally include the signed, dated, and notarized terms of the trust or trust schedules that list or provide a description of the propertyheldintrust. Fortrustapplicants,ATFwillperformathoroughreviewofthetrust documents provided with the eForm 1 application to ensure the firearm sought to be registered to the trust was property possessed by the trust prior to the date the final rule is published in theFederalRegister. Therefore,aneForm1applicationtoregisterafirearmequippedwitha “stabilizing brace” to a trust will be disapproved if the applicant fails to demonstrate the trust possessed the firearm prior to the date the final rule is published Federal Register.

HOW CAN A CURRENT POSSESSOR WHO IS AN INDIVIDUAL REGISTER A FIREARM EQUIPPED WITH A “STABILIZING BRACE” TO A TRUST OR OTHER LEGAL ENTITY?
Answer: Any individual possessing a “stabilizing brace” equipped firearm in his or her individual capacity as of the date the final rule is published in the Federal Register, who wants to register the firearm to a trust or other legal entity, must first register the firearm as an individual by submitting an eForm 1 within the 120-day tax forbearance period. Once the application is approved, an ATF Form 4 can be submitted to transfer the firearm from the individual to the trust or legal entity.

So either immediately populate your trust so you beat the publication date, or complete the form 1 as an individual
 
27. CAN I REGISTER MY SHORT-BARRELED RIFLE QUIPPED WITH A “STABILIZING BRACE” PURSUANT TO ATF FINAL RULE 2021R-08F TO MY TRUST?
Answer: In short, a trust may not register a firearm equipped with a “stabilizing brace” that is a short-barreled rifle pursuant to ATF Final Rule 2021R-08F unless the trust can establish through
documentary evidence that the trust possessed the firearm prior to the date the final rule is published in the Federal Register.
Under the final rule, the Attorney General has authorized a tax forbearance that allows current possessors of firearms equipped with a “stabilizing brace” that meet the definition of “rifle” and have a barrel or barrels less than 16 inches to register the firearms tax-free. A current possessor is a person who possessed the firearm with an attached “stabilizing brace” prior to the date the final rule is published in the Federal Register.
Accordingly, any trust that seeks to register a firearm with an attached “stabilizing brace” that is a short-barreled rifle pursuant to Final Rule 2021R-08F must include with the eForm 1 application evidence that establishes the trust possessed the firearm prior to the date the final rule is published in the Federal Register. This evidence will generally include the signed, dated, and notarized terms of the trust or trust schedules that list or provide a description of the propertyheldintrust. Fortrustapplicants,ATFwillperformathoroughreviewofthetrust documents provided with the eForm 1 application to ensure the firearm sought to be registered to the trust was property possessed by the trust prior to the date the final rule is published in theFederalRegister. Therefore,aneForm1applicationtoregisterafirearmequippedwitha “stabilizing brace” to a trust will be disapproved if the applicant fails to demonstrate the trust possessed the firearm prior to the date the final rule is published Federal Register.

HOW CAN A CURRENT POSSESSOR WHO IS AN INDIVIDUAL REGISTER A FIREARM EQUIPPED WITH A “STABILIZING BRACE” TO A TRUST OR OTHER LEGAL ENTITY?
Answer: Any individual possessing a “stabilizing brace” equipped firearm in his or her individual capacity as of the date the final rule is published in the Federal Register, who wants to register the firearm to a trust or other legal entity, must first register the firearm as an individual by submitting an eForm 1 within the 120-day tax forbearance period. Once the application is approved, an ATF Form 4 can be submitted to transfer the firearm from the individual to the trust or legal entity.

So either immediately populate your trust so you beat the publication date, or complete the form 1 as an individual
Either way it’s a slap in the face to us as responsible persons/trusts that want to do the correct thing.
 
D578DD7F-CD32-4385-805A-DB0987D05BD5.jpeg
 
After reading the complete nonsense ruling ATF put out, I read a little into how they are allowing the “tax exempt” filing of braced “rifles” to SBR’s. In the FAQ sheet, it does NOT allow the trust to participate in an exemption UNLESS it has documentation of the braced weapon to the trust prior to the final rule. Included it also says you MAY register it as an individual and later Form 4 it to a trust or legal entity (BS to collect the $200 regardless. Also, they provided no clarification or allowance for braced shotguns and will not allow them to be registered as SBS under the exemption. I see this crashing and burning sooner than expected

Regarding Form1 and Trust

Shotguns (very bottom)
Am I wrong? or is this proof that it’s ALL about the money?
 
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