41P final ruling, goes into effect 180 days from today.
- Thread starter NWS
- Start date
I don't know that they have a say...even if they did I bet it has as much a chance of being overturned as the Hearing Protection Act has of being passed.
Well, I just read through email from SilencerCo. They did a good job of breaking it down:
- We will not see any changes take effect until 180 days after the official ruling has been published in the Federal Register. The ruling has not been published at this point.
- This ruling is not retroactive and will not apply to applications that are in pending status, or to previously approved applications for existing legal entities and trusts holding NFA items. Anything that is in process before the effective date will be grandfathered under the current rules (Page 198).
- Once the final ruling goes into effect, the CLEO certification rule will change to simply CLEO notification for all silencer purchases - whether through a trust, LLC, or as an individual.
- Once the ruling goes into effect, the responsible persons in a trust or LLC must have a background check completed which will require fingerprinting and photographs, much like when an individual purchases a silencer today.
- The ruling provides a clear answer in regards to what happens when a person or entity that owns a trust dies. The person who is authorized to dispose of the property of an estate may possess a firearm or other item (such as a silencer) that is registered to a decedent during the term of probate without such possession being treated as a transfer under the NFA. Also, any transfer of the NFA item to any beneficiary of the estate is tax exempt.
