I'm not a lawyer and this is not legal advice. This is purely my experience, your situation and experience will be different.
Last summer I took advantage of the SilencerCo summer promotion and Capitol Armory promotion. I have 3 suppressors in jail with two more en route to be delivered to my FFL shop (hopefully) before July. I decided to create single shot trusts for each item; I put each of the items so far into a different trust. The biggest annoyance was just going to the bank to get the multipage trusts notarized as well as the police station to get several different sets of fingerprints (10 total) done. The ATF form 4 paperwork was much the same as filing individually, if I remember correctly it was just an extra page + stapling copies of the trust to the packet. Because I was the only settlor/trustee I am the only responsible person on the trust. And so only I needed to fill out the responsible person questionnaires.
If, in the future when the item is out of jail/stamp is approved, I were to want a family member to have the ability to borrow an item they would only need to be added to the trust that owns the item. They would not need to fill out additional paperwork per 41F. Nor would they need to get fingerprints done. They however obviously would need to be legally able to possess a firearm in order to be added to the trust. (As suppressors are legally firearms)
ATF ruling on such a situation (https://www.atf.gov/file/107196/download) :
Last summer I took advantage of the SilencerCo summer promotion and Capitol Armory promotion. I have 3 suppressors in jail with two more en route to be delivered to my FFL shop (hopefully) before July. I decided to create single shot trusts for each item; I put each of the items so far into a different trust. The biggest annoyance was just going to the bank to get the multipage trusts notarized as well as the police station to get several different sets of fingerprints (10 total) done. The ATF form 4 paperwork was much the same as filing individually, if I remember correctly it was just an extra page + stapling copies of the trust to the packet. Because I was the only settlor/trustee I am the only responsible person on the trust. And so only I needed to fill out the responsible person questionnaires.
If, in the future when the item is out of jail/stamp is approved, I were to want a family member to have the ability to borrow an item they would only need to be added to the trust that owns the item. They would not need to fill out additional paperwork per 41F. Nor would they need to get fingerprints done. They however obviously would need to be legally able to possess a firearm in order to be added to the trust. (As suppressors are legally firearms)
ATF ruling on such a situation (https://www.atf.gov/file/107196/download) :
Code:
Q: Will new responsible persons, added after the making or transfer, be subject to the samerequirements?
A: Once an application has been approved, no documentation is required to be submitted to ATF when anew responsible person is added to a trust or legal entity. However, should a responsible person changeafter the application has been submitted, but before it is approved, the applicant or transferee mustcontact the NFA Branch for guidance.
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