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Thread: CLEO Signature

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  1. #1

    CLEO Signature

    Several outlets are reporting on our (NFATCA) efforts regarding the sunsetting of the CLEO signature requirements on Form1 & 4. While we are appreciative of the news, there really isn't any *new* news.

    ATF has approved it. DOJ has approved it. We are now in the phase where OMB gets to do their regulatory studies, craft the new regulations, propose and draw up the new forms and then submit it to the Federal Register for review. There is absolutely no way to know just how long it will take to get the football across the last yard and the goal line.

    I hope that it is soon, though!

    Jeff Folloder

    NFATCA Executive Director
    www.nfatca.org










  2. #2
    Junior Member
    Join Date
    Apr 2012
    Posts
    23
    Everytime I see a post, news article etc... about the removal of CLEO requirement, the source always ends up being the same, YOU NFATCA

  3. #3
    We're the only ones still banging away at it! We've had a death grip on this tiger's tail for awhile now!

    Jeff Folloder

    NFATCA Executive Director
    www.nfatca.org










  4. #4
    There have been rumors going around regarding CLEO removal that now all officers of corporations, and all trustees in trusts will now be required to submit fingerprints, photographs, and certification of citizenship forms. Is there any truth behind these rumors?

  5. #5
    Just rumors. With that said, it is very likely that a NICS check or equivalent will be required upon the physical transfer of the weapon to the entity (trust, corp, etc). As in, if Joe Blow is the one taking possession of the NFA item on behalf of the corp, a NICS check will be run on Joe Blow. I know a lot of FFL/SOT's have been doing this anyway as a just in case.

    Jeff Folloder

    NFATCA Executive Director
    www.nfatca.org










  6. #6
    Sounds good.

    The concerns I had are that the co-trustee is currently a resident alien, and successor trustee lives in another state (where the trusts NFA contents are legal). As such, having to get signatures from them, fingerprints for them, and any other misc. paperwork together for the both of them to also go through a background check would have made things a LOT more complicated for everyone.

  7. #7
    Don't ever under-estimate the ability for a regulation to get overly complicated! While I don't believe that it's possible for ATF to reach back and make this a retro requirement or add this cumbersome burden, it *could* happen if left unchecked. ATF likely has a Deputy Assistant Director of Complication!

    Jeff Folloder

    NFATCA Executive Director
    www.nfatca.org










  8. #8
    Understood. Like I said, I'd simply seen/heard "buzz" that in order to get CLEO gone the trusts and corps would have to have all "controlling parties" (i.e. officers and trustees/settlors) submit to the equivalent of the individual F4 process.

    Thanks again for all you guys do! It's a wonder any of you have hair left!

  9. #9
    Junior Member
    Join Date
    May 2012
    Posts
    1
    Quote Originally Posted by sillycon View Post
    Understood. Like I said, I'd simply seen/heard "buzz" that in order to get CLEO gone the trusts and corps would have to have all "controlling parties" (i.e. officers and trustees/settlors) submit to the equivalent of the individual F4 process.

    Thanks again for all you guys do! It's a wonder any of you have hair left!
    What a nightmare that would be. It would basically render my trust worthless as my trustees are spread out all over Ohio.

  10. #10
    NFATCA President
    Join Date
    Apr 2012
    Posts
    8
    I guess the one thing to keep in mind with the entire CLEO effort is "we don't know" what the details are at this point, aside from the fact that ATF has said, "You will be really pleased with the outcome". On that note I want to cross all of my fingers and toes and hope for the best. All of the rumors about the impact on trusts etc. are just that. Being at the point of the spear on this effort I know. We have been working this for almost five years now and the waiting creates a lot of unfounded rumors. We know this train is on the tracks, we just don't know the contents of the cars. Ever since the day we launched this effort and the original documents were submitted to DOJ we have been kept out of the loop. There are a couple people I trust there that have given me a good level of confidence that this will turn out well. Let's all keep our fingers crossed. Your board of directors has worked extremely hard on this issue.

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