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NFA firearms (also called NFA weapons) are certain guns and accessories regulated by the National Firearms Act. They are sometimes called “Class 3 weapons.” NFA firearms include all fully automatic and select fire weapons, short barreled rifles, shotguns and sound suppressors (silencers). An NFA trust is also known as Gun Trust. These types of trusts are specifically tailored to comply with the NFA regulations of Title III items.
Here are some of the Advantages of an NFA Gun Trust:
No annual tax reporting requirements or fees
Easy to make changes/or amend
You will NOT need a signature from your local Chief Law Enforcement Officer(CLEO)
A growing number of shooting enthusiasts are creating legal trusts to acquire machine guns, silencers or other items whose sale is restricted by federal law — a mechanism that bypasses the need to obtain law enforcement approval or even undergo criminal background checks.
But because of a loophole in federal regulations, buying restricted firearms through a trust also exempts the trust’s members from requirements that apply to individual buyers, including being fingerprinted, obtaining the approval of a chief local law enforcement officer and undergoing a background check.