New Tax Stamp Every Three Years?

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klapa
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New Tax Stamp Every Three Years?

Post by klapa »

Hello,

I am new to the forum and hope this is being posted in the correct place.

I have been looking to get into an AR platform 300 black w/ silencer for some time and have done research regarding the NFA requirements, post ~March 2015.

I had decided to get a trust, and thought the rules were that once I did so I would only need a tax stamp and/or vetting process for new additions to the trust when I purchased/added a NEW item.

I was buying a handgun today and the guy at the local gun shop (which does not handle suppressors) told me that the new rules require a new tax stamp EVERY 2 or 3 years.
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Re: New Tax Stamp Every Three Years?

Post by poikilotrm »

He lied.
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themonk
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Re: New Tax Stamp Every Three Years?

Post by themonk »

He is clueless which in my experience is the case most of the time with gun shop sales people and NFA items.
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Re: New Tax Stamp Every Three Years?

Post by doubloon »

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klapa
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Re: New Tax Stamp Every Three Years?

Post by klapa »

themonk wrote:He is clueless which in my experience is the case most of the time with gun shop sales people and NFA items.
Thanks for the replies - I thought as much.
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Re: New Tax Stamp Every Three Years?

Post by Aaron »

Lol what did think he was talking about. He was obviously confused and/or just talking our of his ass.

If you have a trust, your beneficiary doesn't even need a new tax stamp when you die. Your beneficiary's beneficiary doesn't need a new tax stamp. Assuming the laws don't change and your family stays legal, your great great grandchildren may some day have legal possession of your NFA items.
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Fulliautomatix
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Re: New Tax Stamp Every Three Years?

Post by Fulliautomatix »

Even as an individual, upon the individual's death, NFA devices can be transferred to a beneficiary tax-free on a Form 5.
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Re: New Tax Stamp Every Three Years?

Post by mbogo »

He might have been thinking of a C&R FFL, which is must be renewed every three years.

NEVER listen to what a gun shop clerk tells you.

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Re: New Tax Stamp Every Three Years?

Post by montanabound »

I hate reading s--t like this about FFLs spewing misinformation. If he's receptive you may argue the point by tactfully and respectfully letting him know he may be misinformed. Some dealers put little effort into reading into what they hear or is passed on to them by a trusted source. I can only remember once that a high volume dealer in my area tried to tell me that a Form 1 is strictly for Class 3 Dealers to manufacture SBRs,etc. for resale....WTF??? I didn't even know where to start with that one and he was a Class3/SOT.
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Re: New Tax Stamp Every Three Years?

Post by Kramer »

What he is probably thinking is with the new 41P/F rules, once you submit a complete set of papers, fingerprints, etc for your entity they are supposed to be good for three years. If you do not buy/register a NFA item in three years you have to re-submit the paperwork again.
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John A.
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Re: New Tax Stamp Every Three Years?

Post by John A. »

gun licenses (like 01 FFL's) are renewed every 3 years. Maybe that's what he was thinking about.

But NFA has nothing to do with that.
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Re: New Tax Stamp Every Three Years?

Post by T-Rex »

The 41F reference is incorrect. The ATF states that if an entity has had an application approved, within the preceding 24 months, you need not resubmit the evidentiary documentation, attesting to the validity of said entity, if said documentation has been unchanged. It applies only to the actual entity documents and not to fingerprints, photographs, etc. And, the preceding application must have been approved.

So, if you file for a tax stamp, under a trust (or other entity), and 23 months goes by w/o said application being approved, you need to submit the same documentation if you wish to file for another tax stamp, under the same trust (or other entity). If the previous application did get approved, you'd need to reference: the form number, serial number, and date of approval, as well as provide a certification that the information has not been changed since the prior approval.

You might as well just resubmit the trust doc's, as it's as easy as hitting the print button.

None of this applies to individuals, or fingerprint cards and photographs (of responsible parties).

This can all be found on the Form1 (5320.1, May 2016), in the "Definitions/Instructions" section, under 2.d.(4).
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Re: New Tax Stamp Every Three Years?

Post by hbk80rice »

Do not ever, ever, ever go back to that gun shop. He knows absolutely nothing about guns or laws and will probably eventually get you into trouble by telling you something and you believe in him. Run and run fast in the opposite direction. There are far too many good gun shops out there to be giving this bunch of fools your hard-earned money.
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Re: New Tax Stamp Every Three Years?

Post by hbk80rice »

What could be even worse than when I said just above is that the jackass is a flat-out liar. Which might be worse than, no it is worse than what I said above. Either way run away fast and never return!
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