Schedule A

sicily · Post by **sicily** » Sun May 03, 2009 4:43 pm

I read I can send in a blank Schedule A. I do not have anything in the trust until the transfer is approved correct? I also read people putting 10 dollars to start on the Schedule A is this necessary?

silent_grizz · Post by **silent_grizz** » Sun May 03, 2009 4:53 pm

I put 10 bucks on mine when I sent in the paperwork on my first can. When I changed the schedule A after approval I removed the 10 bucks..

johndoe3 · Post by **johndoe3** » Sun May 03, 2009 5:03 pm

For my first suppressor purchase, I sent in a blank Schedule A. It's OK.

WebFoot · Post by **WebFoot** » Sun May 03, 2009 11:18 pm

Be aware that usually a trust is not valid unless it holds assets or is funded, hence the $10.00.

dangerdan87 · Post by **dangerdan87** » Thu May 07, 2009 1:50 am

I waited untill I got the serial number and put the manufactures name, what the item was along with the serial number.

TOOL1075 · Post by **TOOL1075** » Thu May 07, 2009 6:33 am

I put a $1 bill in the trust, and even put the bill's serial number on it. I called it a "$1 U.S. Federal Reserve Note with serial number blah blah"

Fudmottin · Post by **Fudmottin** » Thu May 07, 2009 12:59 pm

The Schedule A is a new thing to me. Yeah, I haven't set up my trust yet.

So is it OK as far as a legal trust goes to hold actual cash that is not in a bank account? I would hope a trustee could hold a piece of money.

Obviously it won't be an issue once actual NFA assets are in the trust.

I don't want a separate bank account for the trust. It's not for holding money. I plan on using either Postal Money Orders or just checks made out by the grantor / settler for the tax stamps.

TOOL1075 · Post by **TOOL1075** » Thu May 07, 2009 6:50 pm

yeah, I just keep the dollar bill that is in my trust in a safe. with the trust. for the hell of it.

don't need a bank account set up for a trust.

J Krammes · Post by **J Krammes** » Sat May 09, 2009 7:12 pm

I put the suppressor name manufacture and seriael number in my Schedual A. Because I do owne it, I just can't take posesion of it yet. I hope to get my paperwork in a week or two.

Jeremy

lobo56 · Post by **lobo56** » Sat May 23, 2009 9:41 pm

Sent a blank one along with a completed one for cans. They can pick what they like!

lobo56 · Post by **lobo56** » Sat May 23, 2009 9:43 pm

Nice blade J Krammes!

J Krammes · Post by **J Krammes** » Sun May 24, 2009 5:19 pm

lobo56 wrote:Nice blade J Krammes!

Thanks

JK

wakerider017 · Post by **wakerider017** » Thu May 28, 2009 9:59 pm

Why does everyone use $10?

What's wrong with $1 or $5 or even a Benjamin? They all have serials?

Diomed · Post by **Diomed** » Fri May 29, 2009 1:39 am

wakerider017 wrote:Why does everyone use $10?

What's wrong with $1 or $5 or even a Benjamin? They all have serials?

It's just a common practice. Some do use other bills.

If I'd been thinking I would have used a $2 bill.

wakerider017 · Post by **wakerider017** » Fri May 29, 2009 10:07 am

Diomed wrote:
wakerider017 wrote:Why does everyone use $10?

What's wrong with $1 or $5 or even a Benjamin? They all have serials?
It's just a common practice. Some do use other bills.

If I'd been thinking I would have used a $2 bill.

$2 bill, now that is an idea! Haha.

So just to clarify, it is definitely bad practice to put the silencer in the trust before it is approved? Even if you have all the information / serial # on it.

And I remember hearing, that you need to add something to the trust within a certain amount of time, so I agree something needs to be in there. Just making sure the silencer can't go in.

J Krammes · Post by **J Krammes** » Fri May 29, 2009 11:03 am

wakerider017 wrote: So just to clarify, it is definitely bad practice to put the silencer in the trust before it is approved? Even if you have all the information / serial # on it.

Where did you see or hear that it is bad practice to put the item in the Schedual A? I should be getting my paper work any day now and we will see if it does matter. The guy who helped me with my trust has a suppressor and he put it on the schedual A when he submitted the forms.

Jeremy

wakerider017 · Post by **wakerider017** » Fri May 29, 2009 11:13 am

J Krammes wrote:
wakerider017 wrote: So just to clarify, it is definitely bad practice to put the silencer in the trust before it is approved? Even if you have all the information / serial # on it.

Where did you see or hear that it is bad practice to put the item in the Schedual A? I should be getting my paper work any day now and we will see if it does matter. The guy who helped me with my trust has a suppressor and he put it on the schedual A when he submitted the forms.

Jeremy

Mixed opinions on the net, but this seems to be the general consensus.

I guess it might not be a bad idea to call the NFA and ask?

Anyway, in your post you wrote you own it, which is false in your situation. The trust owns your silencer.

Can the trust really, truly own the silencer before it is approved? I would guess no, but I am unsure.

J Krammes · Post by **J Krammes** » Fri May 29, 2009 12:48 pm

wakerider017 wrote:
J Krammes wrote:
wakerider017 wrote: So just to clarify, it is definitely bad practice to put the silencer in the trust before it is approved? Even if you have all the information / serial # on it.

Where did you see or hear that it is bad practice to put the item in the Schedual A? I should be getting my paper work any day now and we will see if it does matter. The guy who helped me with my trust has a suppressor and he put it on the schedual A when he submitted the forms.

Jeremy
Anyway, in your post you wrote you own it, which is false in your situation. The trust owns your silencer.

Can the trust really, truly own the silencer before it is approved? I would guess no, but I am unsure.

Good point. But, I do know at least 2 people who used a trust and put the silencer in the schedule A and got approved. One guy has one silencer and the other guy has 4 silencers and 2 SBR's and all were done the way I did mine. like I said, I will see any day now. I can see some new rules comming out from the ATF about trusts soon. Wheather it will be good or bad, who knows.

Jeremy

Diomed · Post by **Diomed** » Sun May 31, 2009 2:15 am

wakerider017 wrote:[Can the trust really, truly own the silencer before it is approved? I would guess no, but I am unsure.

Was money exchanged? If so (and such moneys should have belonged to the trust), then yes, the trust owns the item. The NFA process is to lawfully change possession, it's not a title.

If the item hasn't been paid for, then it can't belong to the trust because it's still owned by whoever's selling it.

wakerider017 · Post by **wakerider017** » Sun May 31, 2009 11:03 am

Diomed wrote:
wakerider017 wrote:[Can the trust really, truly own the silencer before it is approved? I would guess no, but I am unsure.
Was money exchanged? If so (and such moneys should have belonged to the trust), then yes, the trust owns the item. The NFA process is to lawfully change possession, it's not a title.

If the item hasn't been paid for, then it can't belong to the trust because it's still owned by whoever's selling it.

Um, in that case isn't money always exchanged?
I am sure there are some dealers out there that don't require money, but you need the serial number for the form 4 and a dealer has to hold that silencer for you. I would think the majority of dealers collect money.

Omega_556 · Post by **Omega_556** » Sun May 31, 2009 11:45 am

wakerider017 wrote:I guess it might not be a bad idea to call the NFA and ask?

My trust bought a first suppressor last month, and I wanted to have all the paperwork ready to go when I met with the dealer so I called my previous examiner to ask this question.

She said do not add the suppressor to the Schedule A before the approved Form 4 is received.

They don't always give good info, so take it for what it is worth.

Diomed · Post by **Diomed** » Mon Jun 01, 2009 2:31 am

wakerider017 wrote:Um, in that case isn't money always exchanged?
I am sure there are some dealers out there that don't require money, but you need the serial number for the form 4 and a dealer has to hold that silencer for you. I would think the majority of dealers collect money.

That usually is the case, but not always. Some dealers are very trusting and will wait to collect upon transfer.

Dweezil · Post by **Dweezil** » Thu Jun 04, 2009 2:16 pm

I paid for my suppressor up front...from the Trust account. I called the examiner who said to go ahead and but said suppresson on the schedule A when submitting since the Trust did, in fact, "own" it, even though it can not yet legally "possess" it. We'll see. I don't have my stamp yet.

CKOD · Post by **CKOD** » Thu Jun 04, 2009 3:33 pm

I was gonna comment that if you paid for it, you own it, you just havent transferred it to your posession yet, but that looks like its been covered...

Fudmottin · Post by **Fudmottin** » Thu Jun 04, 2009 5:01 pm

I think I've got a simple solution for the Schedule A.

If it works in PA the way you guys are saying that it works and something needs to be on it, then I shall simply put my Ruger MKII that I want to build an integral for.

It's still a Title I handgun. So I won't have to pay $200 to transfer it to the trust. No one can argue that it isn't property.