Which Forms are most important to us as individual Stamp Collectors?
While there are 10 major forms in use at the ATF only 4 of them are of any real interest to us- Form 1 is used for the unlicensed manufacture (by individuals, trusts, corporations, etc) of NFA items such as SBRs SBSs and Silencers. It can also be used to manufacture AOWs but the cost for any item on a Form 1 is $200 regardless of what is being manufactured. Like the Form 4 it is subject to a delay while waiting for the ATF to process it. This waiting period fluctuates based on the backlog of pending forms.
- Form 3 is used to transfer NFA items tax free between dealers and manufacturers. When you purchase an NFA item from a dealer outside your state of residence (or even inside your state of residence) in order for the purchase to begin the process of being registered to you it must first be transferred to a dealer local to you who will process the forms and help you through the process. The form 3 is still subject to a delay while the ATF processes it but they are processed faster than Forms 1 and 4.
- Form 4 is used to transfer NFA items to buyers, either from dealer to buyer or between individuals in private sales. For machine guns, short barreled rifles, short barreled shotguns, and silencers the cost is $200 per item while AOWs are a mere $5
- Form 5 has several uses including transferring NFA items to governmental agencies. In the context of individual Stamp Collectors, however, it is used for transferring NFA items to a legal heir without incurring an addition $5 or $200 tax upon the death of the original registrant.
