C&R NFA transfer

[MN1919]

An individual has C&R eligible  MG and has C&R lic listed on the  form 4 as transferee,  If transferred to a FFL SOT is there still a $200 stamp paid?  

[tommyboy]

Yes. C&R status has no effect on whether or not the $200 tax is due on a form 4 transfer.

[daefash]

If i got C&R in my name (Can't get FFL03 in trust name) and i need to transfer C&R MG to me. Does it go Form 4 to my C&R first, $200 and 11 months of wait then the same to my trust after that?

Edited May 24, 2023 by daefash

[HHollow]

22 hours ago, daefash said:

If i got C&R in my name (Can't get FFL03 in trust name) and i need to transfer C&R MG to me. Does it go Form 4 to my C&R first, $200 and 11 months of wait then the same to my trust after that?

Yes, exactly.  One problem though.  Transfers to a C&R are slow, just like a transfer to a trust.  So why not transfer directly to the trust and save 11 months.

I have a C&R and have strategically transferred a MG first to a nearly SOT because it would only take several weeks.  After that the transfer to my C&R was done taking 11-12 months.  The idea was to get it in friendly hands asap.  All kinds of catastrophes can happen with a far away seller.  (death, dementia, divorce, bankruptcy, imprisonment, insanity, ...)

Edited May 24, 2023 by HHollow

[riflejunky]

I had a C&R gun on a paper form four last year that cleared in seven months. I thought that was pretty good.

 

[pinball-1]

9 hours ago, HHollow said:

 The idea was to get it in friendly hands asap.  All kinds of catastrophes can happen with a far away seller.  (death, dementia, divorce, bankruptcy, imprisonment, insanity, ...)

100% what I've been doing as well.

I trust my local dealer, whom I've known well for nearly 20 years, versus some random guy half a country away. Much easier to deal with a local issue (lawyer, police, etc).