If a Trust was recently created and a person is sending in a Form 1 for their first Class III item, will the Schedule A be empty? I read that a trust needs to have some "real item" in it prior to adding the NFA item.
When Sean did mine he put $10 in the Schedule A, but I did NOT put my NFA item on it yet. I'm still waiting on both my Form 4s and I'll add them when I get them.
I'm assuming that's fair practice since you already own the item's serial number? Whereas you wouldn't put Form 4 items on there until the paperwork is back?
The qualification is the same as owning a pistol. If you can walk into a store and buy a pistol outright, then you got nothing to worry about on the Form 4.