On January 15, 2016, a new Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) Rule affecting the transfer of items regulated by the National Firearms Act (NFA) was published in the Federal Register. The rule, known as 41F, significantly alters the way that individual members of “gun trusts” or “NFA trusts” operate with regard to possessing NFA items, like a suppressor. Don’t worry, suppressors are still legal to buy in almost every State. Here are the six most important things you need to know about 41F.
1. It takes effect July 13, 2016
Though 41F was signed on January 4, 2016, it does not come into effect until July 13, 2016—180 days after being published in the Federal Register. Keep this in mind as you read through the rest of these points and consider creating a trust and submitting transfer forms sooner rather than later.
2. It is NOT retroactive
Any Form 1 (manufacture) or Form 4 (transfer) applications submitted to the ATF postmarked July 13, 2016 or earlier will be evaluated according to the current rules for making and transferring NFA items—even if your forms aren’t approved until after July 13, …Read the Rest
Source:: Concealed Nation