Qs about Form 4, BG checks and a trust

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  • mitchntx

    Sarcasm Sensei
    Emeritus - "Texas Proud"
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    5   0   0
    Jan 15, 2012
    4,117
    66
    Waco-ish
    Established a trust with the wife and I as both grantors and trustees.

    There are no other trustees, yet. But daughters and SILs are beneficiaries.

    Once a F4 is submitted:
    Are BG checks made on any and all individuals listed in the trust?
    or just the grantors?
    or just me, one of the grantors who ordered the purchase?
     

    jasont

    Active Member
    Rating - 0%
    0   0   0
    Jul 17, 2008
    344
    11
    Houston
    No background checks are required on anyone in the trust. That is current rules of course, there was some talk of an EO to change that.
     

    jasont

    Active Member
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    0   0   0
    Jul 17, 2008
    344
    11
    Houston
    The new e-file system is getting forms returned in 3 months as opposed to the paper system which is taking around 10 months. It was my luck that my 2 suppressor Form 4's were sent during the government shutdown. The e-file system was shutdown as well so they sent it in on paper. If you e-file your forms now you'll get your stamp months before I get mine that was sent back in October.
     

    grumper

    TGT Addict
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    0   0   0
    Jul 5, 2012
    2,970
    96
    Austin
    Really? Why does it take so long for a tax stamp, then?

    If the examiners use a system that works as well as the eForms website they probably spend 6 hrs a day looking at a spinning hour glass icon plus 45 mins for lunch.

    That's my theory.

    At the shop we literally spent 3 hours trying to submit three eForm 4s. Only 1 made it in before we gave up. Still haven't gotten the other two submitted and that was 2 days ago.
     
    Last edited:
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