Form 1 questions

[jpm2953]

So I did a Form 1 e-file like 6 years ago with a trust. I have since moved to a new address than what my trust is under. Also, I need to get some people removed from my trust and add my son(6 months old) as my beneficiary.

I want to file another Form 1 for another SBR. Should I just do individual or with my trust again?
Do I need to get my address changed? Or once a trust is made, it's always going to be "In braselton"?
Can I just amend my trust on my own and reprint it?

 

[jpm2953]

I think I answered my own questions. Going to e-file form 1 individual and not worry about the trust. Will just add my son as beneficiary on the will and not the trust.

 

[NWSharpshooter]

yep, with 41F my trust became a non starter. I just file as an individual now.

 

[gober13]

I think I answered my own questions. Going to e-file form 1 individual and not worry about the trust. Will just add my son as beneficiary on the will and not the trust.

yep, with 41F my trust became a non starter. I just file as an individual now.

Is it not still a good idea for a trust to leave nfa items to family members if/when you die? Was told its a pain in the ass if not through a trust and you die. And the atf can still deny it even if its in your will? Is that not correct?

 

[whiskerz]

The alternative to a trust is to leave NFA as individual line items in your will. They will transfer on a form 5 tax free. The person inheriting the item can not be a prohibited person. No different than a trust and maybe even easier. The ATf usually never denies a form 5

 

[NWSharpshooter]

The alternative to a trust is to leave NFA as individual line items in your will. They will transfer on a form 5 tax free. The person inheriting the item can not be a prohibited person. No different than a trust and maybe even easier. The ATf usually never denies a form 5

this

 

[rumrunner55]

Just file a retraction of everyone on the trust and then add them back after, its a living trust add and remove at will. I have a one page document that says this that i file with my application

 

[Lazarus]

Just file a retraction of everyone on the trust and then add them back after, its a living trust add and remove at will. I have a one page document that says this that i file with my application

I think I did that with one of my forms, just did an amendment.

I'm a little OCD and will be filing my Form 1 on the trust. Is there any downside such as longer wait time if I'm the only one on the trust to file via trust?

 

[rumrunner55]

I think I did that with one of my forms, just did an amendment.

I'm a little OCD and will be filing my Form 1 on the trust. Is there any downside such as longer wait time if I'm the only one on the trust to file via trust?

I believe it’s longer for form 4 but it’s all the same on e-file form 1 I’ve seen, 20 days on avg for me on my last 3 ...and my friend filed as individual and he trended 24 days...guess I’m lucky lol