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Think trusts are the answer, prepare to get scrutinized.

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David Hineline:
Date: 12/17/10 18:57

[Federal Register: December 15, 2010 (Volume 75, Number 240)]
[Notices]
[Page 78268]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr15de10-84]

-----------------------------------------------------------------------

DEPARTMENT OF JUSTICE

Bureau of Alcohol, Tobacco, Firearms and Explosives

[OMB Number 1140-NEW]

Agency Information Collection Activities: Proposed Collection;
Comments Requested

ACTION: 60-Day Notice of Information Collection Under Review: Letter
Requesting Supporting Documents Identifying a Legal Entity.

-----------------------------------------------------------------------

The Department of Justice (DOJ), Bureau of Alcohol, Tobacco,
Firearms and Explosives (ATF), will be submitting the following
information collection request to the Office of Management and Budget
(OMB) for review and approval in accordance with the Paperwork
Reduction Act of 1995. This notice requests comments from the public
and affected agencies concerning the proposed information collection.
Comments are encouraged and will be accepted on or before February 14,
2011. This process is conducted in accordance with 5 CFR 1320.10.

If you have comments especially on the estimated public burden or
associated response time, suggestions, or need a copy of the proposed
information collection instrument with instructions or additional
information, please contact Gary Schaible, Gary.Schiable@atf.gov
National Firearms Act Branch, 99 New York Avenue, NE., Washington, DC
20226 Fax (202) 648-9601.

Written comments and suggestions from the public and affected
agencies concerning the proposed information collection are encouraged.
Your comments should address one or more of the following four points:

--Evaluate whether the proposed collection of information is necessary
for the proper performance of the functions of the agency's including
whether the information will have practical utility;
--Evaluate the accuracy of the agency's estimate of the burden of the
proposed collection of information, including the validity of the
methodology and assumptions used;
--Enhance the quality, utility, and clarity of the information to be
collected; and
--Minimize the burden of the collection of information on those who are
to respond, including through the use of appropriate automated,
electronic, mechanical, or other technological collection techniques or
other forms of information technology, e.g., permitting electronic
submission of responses.

Summary of Collection:

(1) Type of Information Collection: New.

(2) Title of the Form/Collection: Letter Requesting Supporting
Documents Identifying a Legal Entity.

(3) Agency form number, if any, and the applicable component of the
Department of Justice sponsoring the collection: Form Number: None.
Bureau of Alcohol, Tobacco, Firearms and Explosives.

(4) Affected public who will be asked or required to respond:

Primary: Business or other for-profit.

Other: None.

Need for Collection: The collection of information will be used to
determine the lawful existence and validity of a legal entity before
ATF approves the transfer of an NFA firearm to that entity.

(5) An estimate of the total number of respondents and the amount
of time estimated for an average respondent to respond: It is estimated
that 5,000 respondents will spend approximately 30 minutes to compile
documentation requested by the letter.

(6) An estimate of the total public burden (in hours) associated
with the collection: There are an estimated 5,000 annual total burden
hours associated with this collection.

If additional information is required contact: Lynn Murray,
Department Clearance Officer, Policy and Planning Staff, Justice
Management Division, Department of Justice, 2 Constitution Square, Room
2E-502, 145 N Street, NE., Washington, DC 20530.

Dated: December 9, 2010.
Lynn Murray,
Department Clearance Officer, PRA, U.S. Department of Justice.
[FR Doc. 2010-31401 Filed 12-14-10; 8:45 am]
BILLING CODE 4410-FY-P

A-FIXER:
So............ the this mean Dave that the business and for profit co's are the bearer of the burden and if the average joe applies for it may be declined if the transferer is unable to show the NFA item orgin after DEC 2010. Can you enlighten us somemore?

bkoenig:
Sounds to me like they're going to actually start ruling on whether your trust is valid when you apply, which may actually be a good thing.  My understanding now is that they don't examine the trust to determine whether it's valid, so you can be approved with an invalid trust, and they can come after you for that later.  If they make the determination up front it could save a lot of hassle.  I don't speak lawyer, though.  Interesting timing since I just sent in my first Form 1 this morning.....

A-FIXER:

--- Quote from: bkoenig on December 18, 2010, 12:44:57 PM ---Sounds to me like they're going to actually start ruling on whether your trust is valid when you apply, which may actually be a good thing.  My understanding now is that they don't examine the trust to determine whether it's valid, so you can be approved with an invalid trust, and they can come after you for that later.  If they make the determination up front it could save a lot of hassle.  I don't speak lawyer, though.  Interesting timing since I just sent in my first Form 1 this morning.....

--- End quote ---

Your going to be our NFOA tested I guess.

bkoenig:

--- Quote from: A-FIXER on December 18, 2010, 06:56:15 PM ---
Your going to be our NFOA tested I guess.

--- End quote ---

Well, if it gets kicked back I guess I need to find an alternate residence to register it, since Herr Casady refuses to sign off on NFA items.

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