Armory Sponsor
Posted: 6/21/2010 3:07:52 PM EDT
| I've been a FFL holder for 10 years. Decided to expand my offerings and applied for and received my Class 03 stamp. When I got my FFL and upgraded to a 07, both times the ATF paid a visit and did a thorough job of explaining record keeping procedures, etc... I got my 03 stamp in the mail and didn't even get a handbook. I got online and downloaded the handbook. Very lengthy. I plan to sell silencers, short barrel rifles and shotguns, and maybe machine guns. What are you other 03 dealers doing on record keeping? I couldn't see anything in particular about keeping a bound book on NFA items. I would think that I could use standard bound book to keep inbound and outbound transactions along with a copy of the completed Form 4. Am I required to do a Form 4473 on the machine guns? |
|
Quoted:
I've been a FFL holder for 10 years. Decided to expand my offerings and applied for and received my Class 03 stamp. When I got my FFL and upgraded to a 07, both times the ATF paid a visit and did a thorough job of explaining record keeping procedures, etc... I got my 03 stamp in the mail and didn't even get a handbook. I got online and downloaded the handbook. Very lengthy. I plan to sell silencers, short barrel rifles and shotguns, and maybe machine guns. What are you other 03 dealers doing on record keeping? I couldn't see anything in particular about keeping a bound book on NFA items. I would think that I could use standard bound book to keep inbound and outbound transactions along with a copy of the completed Form 4. Am I required to do a Form 4473 on the machine guns? If you're going to manufacture with your Type 07, you'll need to switch to a Class 2 SOT. If just dealing, you can stay with Class 3. 4473 is still required on NFA (except suppressors, but most do them anyways), but you don't have to do a NICS check if transaction involves only NFA firearms. I happen to keep 3 bound books. One for my FFL dealer inventory, one for my manufacturer inventory, and one for my personal collection. I keep NFA and Title 1 stuff in the same book, with an additional file folder for my F2/F3/F4/F5 paperwork, sorted by bound book line number the form applies to. |
|
We are just an 01 FFL and Class 3 store.
We keep a book for 01 firearms and a seperate book for NFA. On NFA items we keep a copy of the approved form and file it with the 4473. As Circuits stated, the customer must fill out a 4473 when transferring the NFA item, but no NICS is required under federal law. |
|
Quoted: They are partially correct. If the transfer is to a trust, LLC, Corp...etc requires a 4473 and a NICS check. If it is to the person- then no NICS is required. Check out box 22 on the 4473 form. Wrong. The instructions on the 4473 are clear. No NICS checks for NFA items. But for Corps the person must sign an affadavit as per Instruction #1. |
|
Quoted: I've been a FFL holder for 10 years. Decided to expand my offerings and applied for and received my Class 03 stamp. When I got my FFL and upgraded to a 07, both times the ATF paid a visit and did a thorough job of explaining record keeping procedures, etc... I got my 03 stamp in the mail and didn't even get a handbook. I got online and downloaded the handbook. Very lengthy. I plan to sell silencers, short barrel rifles and shotguns, and maybe machine guns. What are you other 03 dealers doing on record keeping? I couldn't see anything in particular about keeping a bound book on NFA items. I would think that I could use standard bound book to keep inbound and outbound transactions along with a copy of the completed Form 4. Am I required to do a Form 4473 on the machine guns? If you are an 07, your SOT class is 02. 07s keep different books than 01s, but I guess you know that if they explained it to you. Generally you do a 4473 on all transfers, including MGs. |
|
Quoted:
If you are an 07, your SOT class is 02. 07s keep different books than 01s, but I guess you know that if they explained it to you. That's not automatic. A Type 07 can choose to file as a Class 3 SOT if they wish - provided they only wish to do Title 1 manufacturing. |
|
Quoted:
Quoted:
They are partially correct. If the transfer is to a trust, LLC, Corp...etc requires a 4473 and a NICS check. If it is to the person- then no NICS is required. Check out box 22 on the 4473 form. Wrong. The instructions on the 4473 are clear. No NICS checks for NFA items. But for Corps the person must sign an affadavit as per Instruction #1. 9.12.1 NFA Transfers to other than individuals. Subsequent to the approval of an application requesting to transfer an NFA firearm to, or on behalf of, a partnership, company, association, trust, estate, or corporation, the authorized person picking up the firearm on behalf of, a partnership, company, association, trust, estate, or corporation from the FFL must complete the Form 4473 with his/her personal information and undergo a NICS check. See also, question P60 in the ATF FAQs. |
|
Quoted: Quoted: Quoted: They are partially correct. If the transfer is to a trust, LLC, Corp...etc requires a 4473 and a NICS check. If it is to the person- then no NICS is required. Check out box 22 on the 4473 form. Wrong. The instructions on the 4473 are clear. No NICS checks for NFA items. But for Corps the person must sign an affadavit as per Instruction #1. 9.12.1 NFA Transfers to other than individuals. Subsequent to the approval of an application requesting to transfer an NFA firearm to, or on behalf of, a partnership, company, association, trust, estate, or corporation, the authorized person picking up the firearm on behalf of, a partnership, company, association, trust, estate, or corporation from the FFL must complete the Form 4473 with his/her personal information and undergo a NICS check. See also, question P60 in the ATF FAQs. Meaningless garbage since it is not the law, CFR, or directions on the 4473. The Law: (s)(1) Beginning on the date that is 90 days after the date ofThe CFR: (d) Exceptions to NICS check. The provisions of paragraph (a) ofThe 4473:  FFL NewsLetter:  Not a slam towards you toro, but it is amazing how incorrect info can be propogated. |
|
The BATFE had a booth at the 2010 SHOT show. I got a chance to speak with a senior member of the NFA branch, his first name was Bill but I don't remember his last name.
I asked him about NICS checks and NFA trust transfers. He told me that you do NOT have to do a NICS check on a NFA trust, and the BATFE needs to update their publications to reflect this. Take this for whatever you think it's worth... 
|
Armory Sponsor