As many of you are likely aware, in August of 2013 President Obama executed 26 executive orders aimed at limiting the citizen of the United State’s second amendment rights. Included in these orders were instructions to the BATFE to close what the president refers to as a “loophole” which allowed the transfer of ownership of Class 3 items, such as SBRs, SBSs, full auto firearms, suppressors, and destructive devices, without the signature of the Chief Law Enforcement Officer of the county, to a NFA trust or corporation.
The BATFE has announced the comment period (where the general public and lobbyist get to weigh in on the proposed rules) regarding the implementation of the the executive orders has ended, and the executive order will be fully implemented by June of 2014.
The implementation of this executive order, will essentially render any new transfers of Class 3 items after June 2014 to a NFA trust ineffective because the trust will require the same background check and signature of the Chief Law Enforcement Officer of the county to process the form 1 and form 4s, as an individual. Even the alternate trustee and beneficiaries will be required to have the Chief Law Enforcement Officer of the county to sign off on their application.
If you have been thinking of purchasing Class 3 items such as a SBR, SBS, full auto firearm, and/or a suppressor, and wanted to place them in a NFA firearm trust, time is running out.
Right now, with very few county sheriff’s signing off on the background of individuals looking to purchase a Class 3 item, a NFA Firearm Trust has been the only way to procure Class 3 items. The implementation of Obama’s executive order means NFA trusts will no longer be a viable way to procure a Class 3 item.
NOW IS THE TIME TO GET A NFA FIREARM TRUST. We are your Orlando Gun Trust Lawyers. View our website for the benefits of NFA trusts and download the trust questionnaire at http://www.maxlaworlando.com/national-firearms-act-nfa-gun-trusts/