What is an NFA Trust?
A National Firearms Trust (NFA) is an entity designed to own Class 3* items for its beneficiary, buy who usually also serves as Trustee. The trusts provide for transfer or sale of its Class 3 contents upon death or disability of the beneficiary. It has the side benefit of not requiring fingerprints, prostate photographs and law enforcement signature, ailment because it is an entity rather than an individual.
What is a Class 3 item?
Currently, Class 3 items are machineguns, rifles with barrels less than 16?, shotguns with barrels less than 18?, sound suppressors, and miscellaneous other weapons like rifles of more than 50 caliber, handgrenades, grenade launchers and various destructive devices. There are legislative proposals to add over 100 semi-automatic rifles to the Class 3 category.