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We Shall Remain There

Newbie Question - NFA Dealer Transfer Question

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Long time reader, first time poster.  As I move closer to my next career, I wanted to get the board's help. I reside in Texas and have created my Gun Trust and am starting the process to begin shopping for the first NFA firearms to put into the trust.  In shopping I have seen that some firearms are only transferable to Class 3 NFA "DEALERS".  Can someone please explain difference in being a dealer and just being able to own NFAs as part of a trust.  Also, what are additional requirements to become a Class 3 Dealer.  Thank you. 

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29 minutes ago, We Shall Remain There said:

Long time reader, first time poster.  As I move closer to my next career, I wanted to get the board's help. I reside in Texas and have created my Gun Trust and am starting the process to begin shopping for the first NFA firearms to put into the trust.  In shopping I have seen that some firearms are only transferable to Class 3 NFA "DEALERS".  Can someone please explain difference in being a dealer and just being able to own NFAs as part of a trust.  Also, what are additional requirements to become a Class 3 Dealer.  Thank you. 

I'm not a dealer but a machinegun enthusiast since 2012.

Basically, you have three classes of machineguns - Transferable, Pre-May Samples, and Post May Samples.

Transferable: These can be owned by regular Joes like you and me. The most desirable and the most expensive of the lot.

Pre-May Samples: These can only be owned by FFL/SOTs. Depending on the business structure, a dealer can keep his Pre-May Samples after he surrenders his licenses. I believe all of these are factory machine guns, manufactured out of country and imported here after the 1968 Gun Control Act took effect, but before May 19, 1986. Less expensive than a transferable. 

Post May Samples: These were manufactured after the hughes amendment took effect in May 1986. These can only be owned by an FFL/SOT and require additional documentation to transfer. No option to keep these after surrendering your license. 

I think all that is pretty accurate. Like I said, I am just an enthusiast. Don't know about the requirements for getting all the licenses.

In Liberty,

KH

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KH, YOU GOT MOST OF IT RIGHT !   "pre may samples" are guns that were IMPORTED after the 68 gun control act became law which stopped the import of ALL weapons of war, NFA or not except for "OFFICAL AGENCY , or GOVT use. the category was created to allow LIC dealers to obtain "samples" for demonstration. country of origin was not an issue and remember all the "lend lease" and assistance guns we provided. one could buy them out of stock from several big importer's like INTERARMS , SAAMCO, etc. and when business ceased the owner could keep them and they became known as 'pre may samples".   as of  MAY, 19 1986, ATF passed a ruling that in order to get a "SAMPLE" the dealer needed a letter of intent to purchase or requesting a demo of a specific weapon from a qualified agency . even new imports of WWII weapons were possible along with new examples or designs built after the 86 cut off date. this covered all these that became known as "post may samples" and must always be in the books of an active license. in order to get a lic for NFA weapons, one must INTEND to conduct business, not just accumulate examples to build a collection or use for recreation. I suspect one day more than one individual will pay the piper in that respect.  yea merrily beware the trust . make sure you can "TRUST" others in the trust. I know a gent that lost all his NFA because of his sons bad decisions made one night

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I only accept postal money orders. contact me DIRECTLY before sending any funds                                           email  myoldiron@outlook.com        

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