Narco makes me ask this question.

[Quas]

Say my father has some NFA weapons, if he passed and they were given to me in the will, would I have to pay another tax stamp? What would be this process?

 

[TDH]

Better info below

 

[Richard in LA]

If you are the legal heir to an NFA item registered to an individual, it can be transferred to said heir, TAX FREE, one time on a form 5 (tax exempt transfer or Transfer to/from LE/GOV'T.)

Here is a link to the form (PDF) and you can see in the upper right hand corner, there is a box for "transfer to legal heir"

Form 5

 

[aroundlsu]

Yep, they get passed tax free but it's a tricky situation. All the info is on the NFA website. The NFA website is currently down for some reason.

Basically, only the executor of the estate can have access or possess the weapons until the next lawful heir takes possession of them. A "reasonable timeframe" is given for the transfer to be completed. The ATF will assist and are reasonable when helping with matters like this.

 

[TDH]

Wow....that's nice to know.

 

[aroundlsu]

Here is the actual quote from the website:

The executor of an estate that includes registered NFA firearms is responsible for maintaining custody and control of registered NFA firearms and for arranging for transfers of the firearms. The executor should take this action as soon as possible, generally by the close of probate. However, ATF will allow the executor reasonable time to arrange for the transfer of the registered firearms in a decedent’s estate.

Firearms may not be transferred to another party, such as a Federal firearms licensee, for consignment or safekeeping. This is a transfer, which is subject to the requirements of the NFA and must be approved by ATF; however, a licensee may assist the executor by identifying purchasers and by acting as a broker.

 

[CajunTim]

Now what if the heir was a minor and I was given guardingship of the underage minor?

 

[Doc Holliday]

Now what if the heir was a minor and I was given guardingship of the underage minor?

talk about muddying the water...

 

[aroundlsu]

That question would require a call to ATF NFA Customer Service. I imagine it would probably cause a problem if you willed a machine gun to a 12 year old boy who would then be the only person on the planet who could possess said machine gun. He would definitely be the cool kid on the playground, though!

 

[Born4spd]

Your avatar scares me.

 

[cajun 22]

That is one of the good things about a trust. If the trustee/grantor dies the second trustee can legally possess the items, use those items, or dispose of them without the transfer procedure to him. Heirs can be listed into the trust and items can be held until they are old enough to possess them.

 

[spanky]

Narco makes me ask questions too but it's not this.

 

[spanky]

If I ever go NFA, I may go trust over NFA simply because I have a child who I'd want to pass these things along to.

 

[Jimmy Dean]

He would definitely be the cool kid on the playground, though!

Or the only kid on the playground........

 

[Narco]

WTF.. I point my pistol at you and make you type this question.. Gosh..