Armory Sponsor
Posted: 9/8/2011 4:51:15 AM EDT
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I have a quandry here and need a little advice. I have my FFL in my company name and am a "Sole Proprietor" but think I'm going to renew it as an LLC when it comes due. I know I should have done this the first time around.
So, my question is: Can I form an LLC in the same name as is on my FFL? Obviously I would not mix the two together and do business as an LLC using my FFL until it's gone through the BATFE. |
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Quoted:
I have a quandry here and need a little advice. I have my FFL in my company name and am a "Sole Proprietor" but think I'm going to renew it as an LLC when it comes due. I know I should have done this the first time around. So, my question is: Can I form an LLC in the same name as is on my FFL? Obviously I would not mix the two together and do business as an LLC using my FFL until it's gone through the BATFE. If You Intend to Change Your Business Structure Because a license is not transferable, a successor buying, leasing, or otherwise acquiring the firearms operations of an FFL must obtain a new license. For example, if a sole proprietor forms a Limited Liability Corporation (LLC), the LLC must obtain a new license. The LLC cannot operate using the sole proprietor’s license. If there is a change of control of a FFL by stock purchase or otherwise, the licensee must notify ATF in writing within 30 days of the change. Upon renewal, the corporation must file a new Application for Firearms License (ATF F 5310.12, ATF Form 7) and provide information on all new responsible persons. FFLs may report new responsible persons by filing a letter with the Chief, FFLC. The letter must provide all of the identifying information for the new responsible person(s) as required on ATF Form 7. The letter must be accompanied by a current picture of the responsible person and fingerprints submitted on an FBI Fingerprint Card (FD-258). This is from: FFL Best Practices Guide Page 2, Right Hand Column Hope this helps! |
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