Anybody wanting to buy NFA toys using a trust

[Mike D]

I heard a news clip this morning that Obama is going to close the "gun trust loophole" via executive action.

I also have from a very knowledgeable source that it will happen. 80 days and counting down.

So if you're considering setting up a trust and getting some NFA items now's the time to do it.

[bustacap]

Thanks for the heads up!
Gotta get one more can and sbr.

[COWDOG]

What about the items that are pending? Will those be canceled?

[aggie_archer]

Anyone have any more info on this? Want to find out if this is really going to happen and if so, what will happen with pending transaction? I have been wanting a can for a while but may need to go ahead and pull the trigger one if this is true!

[lglidewell]

Mike D - what about the folks that already have the gun trusts set up? Are they going to be grandfathered in where they can still purchase NFA items later on down the road? Or are they taking the gun trust route completely out?

[chewy]

http://thehill.com/blogs/regwatch/pending-regs/318133-white-house-reviewing-draft-gun-control-rule

[Bily Lovec]

all they can do is require everyone on the trust to submit fingerprints and background checks.

obama seems to think there are millions of felons buying guns thru trusts...

Im really getting to where i despise anyone who voted to reelect that POS...

[Coach W]

What about the items that are pending? Will those be canceled?

x2.... I need an SBR

[salth2o]

explain to me what this really is and why I need one?

[dbaio1]

all they can do is require everyone on the trust to submit fingerprints and background checks.

obama seems to think there are millions of felons buying guns thru trusts...

Im really getting to where i despise anyone who voted to reelect that POS...

I always have and will despise them. They are as much of the problem as that POS is.

[dclifton]

Ohh this just ****** me off!

[assassinator]

" closing the gun trust loop hole" what exactly does this mean? Is everyone that currently has a gun trust going to submit new forms, photographs, and fingerprints to ATF and local leo. Will gun trust be totally outlawed in the future for people wanting to own a can or SBR? Does anyone have specifics for what this means?

[chongo]

I think this is likely a step towards completely eliminating the use of gun trusts and corporations to purchase NFA items.

Baby steps.

[Bily Lovec]

What they fail to mention is its illegal for a felon to possess a weapon.
Period.
This is simply stripping law abiding citizens of their constitutional rights and will do nothing to criminals.

If you voted for Obama, YOU are part of the problem, not the solution.

[Mike D]

Anybody wanting to buy NFA toys using a trust

My understanding is any NFA currently in a trust will be grandfathered in. If it is used to moving forward everyone listed on the trust including minors I assume as beneficiaries will have to be fingerprinted and photos submitted the executor of the trust will have to be fingerprinted photos and get law-enforcement sign off.

I'm not 100% sure what will happen with pending items but the conversation I had this morning led me to believe as long as the forms are submitted for this takes effect that they will be grandfathered in.