4 Common Reasons for a Kick-Back

YOUR TRUST HAS UNINTENDED RESPONSIBLE PERSONS WHO MUST SUBMIT A FORM 23 WITH FINGERPRINTS, PHOTOS.

You thought you were the only Responsible Person. (RP) in your trust.  However, any individual identifiable from the trust agreement who has any ability to possess, even with a named trustee, is deemed to be a Responsible Person under Rule 41F and must submit Form 23, etc.  To avoid this your trust can be updated with a simple amendment.

FORM 4, BLOCK 2a DOES NOT STATE THE EXACT TRUST NAME.

Block 2a, page 1 must state the exact trust name, like “SAMPLE GUN TRUST”.  BATFE requested that we all “keep the name simple” instead of using standard trust  naming conventions.

 FORM 4, BLOCK 15 DOES NOT STATE THE TRUSTEE NAME.

The blank line in Block 15 must list your name as trustee and your trust name.

 
YOUR TRUST DOES NOT HAVE ALL SCHEDULES OR EXHIBITS.

Your submitted trust must have all referenced schedules and exhibits included… or you will get a kick-back.  Sign it and date it too.  After successful registration and receipt of your tax stamp remember to add the new NFA firearm to your Schedule A.

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