Please also be advised, that when you pick up an NFA item from your dealer (F1s don't do this, of course) you are required to do a 4473 on it with your personal information. You must present your driver license or other acceptable form of ID. The dealer checks "No NICS check was required because the transfer involved only NFA firearms" Question 22 on Page 2 of the Form 4473 so he doesn't need your CCW.
In addition. ATFE Form 4473 States in “Instructions to Transferee/Buyer”, Number 2.:
“When the buyer of a firearm is a corporation, company, association, partnership or other such business entity, an officer authorized to act on behalf of the business must complete Section A of the form with his or her personal information, sign section A, and attach a written statement, executed under penalties of perjury, stating: (A) the firearm is being acquired for the use of and will be the property of that business entity, and (B) the name and address of that business entity.”
I have a form made up in Word that I print and hand to the purchaser of an NFA device, which details the above instructions, and constitutes a statement, executed under penalties of perjury, and describing the Business entity and their position within same to satisfy those requirements.
(If anyone wants it, just email me and I'll send it to you)
I meet Dealers/Mfgrs all the time who say "What 4473. I just handed him his approved F4 and sent them on their way."
If, in the future, ATF/NFA decides to "ping" us on these Trusts, I think that's where they'll start, in that the Dealers are not asking the Transferee to sign the statement which is required, and it puts the Dealer and the Transferee in a legally vulnerable situation.