Question about the "assignment of property" document

[uracowman]

I'm about to send in my third form 4, but I cannot remember this for some reason. When sending out the paperwork, is it necessary to send out the "assignment of property" document? I know an updated schedule A is required, but what about the aforementioned document?

I guess what I am trying to ask is the following: When sending in all documentation along with your form 4, does the assignment of property document need to be sent in along with the rest of the paperwork with ALL items in your trust listed in it just like the Schedule A?

[Abiqua]

No. If the trust is acquiring the item it would not be yours to assign to the trust.

[rimshaker]

If the Trust itself mentions a schedule A, then it should be included. Otherwise ATF will consider it incomplete documentation.

Some Trusts don't use a schedule A, only an Assignment sheet. So you only list the item that you're requesting permission to transfer on this Assignment page.

With or without a schedule A, the ATF will always have a de facto list of your transferred Trust items. All they have to do is collect all your past Assignment sheets from their database.

[pneumagger]

How can you "Assign the Property" to the trust if you do not yet own it? Wouldn't a new assignment sheet and updated schedule A be added to the trust AFTER the Form 4 is approved?

In the past, if I recall correctly, the only items on my submitted trust's Schedule A were items ALREADY owned by the trust and the newly purchased items in my SOT possession were not yet represented on the Sch A. I never had a problem with any of my stamps getting approved. I'm not offering this as any sort of legal advice, just as my personal experience of course, YMMV.

Admittedly, it's been almost 2 years since I've submitted a Form 4. Have trust requirements changed?

[rimshaker]

How can you "Assign the Property" to the trust if you do not yet own it? Wouldn't a new assignment sheet and updated schedule A be added to the trust AFTER the Form 4 is approved?

They want to see your intention when they review your F4 application. If a new assignment sheet was added to the Trust AFTER F4 approval, then they'd never see it correct? So that doesn't make sense.

Just think of it as requesting permission from the ATF. You're simply showing them your intention with that Assignment sheet. If they approve the F4, then the Assignment sheet is valid and becomes part of the Trust. If they deny the F4, you don't get your toy and the Assignment sheet is invalid anyway.

Yea the logic sounds backwards at first. But it starts to make a little sense if you dwell on it a bit lol.

[Gagtoe]

How can you "Assign the Property" to the trust if you do not yet own it? Wouldn't a new assignment sheet and updated schedule A be added to the trust AFTER the Form 4 is approved?

In the past, if I recall correctly, the only items on my submitted trust's Schedule A were items ALREADY owned by the trust and the newly purchased items in my SOT possession were not yet represented on the Sch A. I never had a problem with any of my stamps getting approved. I'm not offering this as any sort of legal advice, just as my personal experience of course, YMMV.

Admittedly, it's been almost 2 years since I've submitted a Form 4. Have trust requirements changed?

My first stamp I had Spaceballs the movie and 200 dollars listed as my Schedule A.

Per my lawyer.

[dtom29]

To cut through all the discussion and answer the question....No, the Assignment of Property document is not needed. 12 approvals without an Assignment of property.....ever.