FYI...a trust cannot be issued a C&R

**SigForLife** · April 28th, 2009, 01:18 PM

So that unsuspecting individuals, especially Missourians, are not caught in a trap, be aware that a trust CANNOT be issued a C&R License. If you look under the CFR for the definition of "person" in the licensing portion, a trust is NOT listed, unlike the definition of a "person" for NFA firearm ownership. I have written a more explanatory article here: http://blog.princelaw.com/2009/4/28/...relics-license. The BATFE has allegedly already issued a C&R to a trust in Missouri.

**Fudmottin** · April 28th, 2009, 03:30 PM

Can the grantor have the C&R and just put the C&Rs in the trust? Or a trustee? I thought the intended purpose of a trust was to protect certain assets for passing on to heirs or other beneficiaries.

Or is this some cruel twist of law where the grantor using the C&R to acquire an NFA C&R item for the trust would have to pay the transfer tax twice?

I suppose by now you know what a fan I am of the NFA + GCA.

**SigForLife** · April 28th, 2009, 04:03 PM

No because the trust owns the asset. It would be no different than allowing and individual, who owns a NFA firearm, to place it in the trust without a transfer fee. It cannot happen. I can see an argument for allowing a trust to be issued a C&R since the purpose is solely for collecting, but the regulations state otherwise.