Quote History Quoted:
That isn't how it reads. 1988 was the cutoff for retention of records.
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Quote History Quoted:
Quoted:
From
27 CFR 478.129:
So if you've been a C&R or dealer for 20+ years, any transactions (receipts or dispositions) that took place more than 20 years ago no longer have to be recorded in your bound book.
If you let your C&R expire, you have to keep records of transactions for 20 years, then you can get rid of them.
That isn't how it reads. 1988 was the cutoff for retention of records.
There may have been a slight miswording in my interpretation.
As the language reads:
The records prepared by licensed dealers and licensed collectors under the Act of the sale or other disposition of firearms and the corresponding record of receipt of such firearms shall be retained through December 15, 1988, after which records of transactions over 20 years of age may be discarded.
Amended interpretation: all records of the sale or other disposition of firearms (and corresponding receipts) must be held through December 15, 1988. After December 15, 1988, all records of sales or other dispositions that are over 20 years old may be discarded. Since today's date is currently after December 15, 1988, all records of sales or dispositions (and corresponding receipts) that are more than 20 years older than today's date may be discarded. Given that today is May 2, 2017, if I were to surrender my license today I would still have to retain any records of sale or dispositions (or corresponding receipts) that occurred before May 2, 1997, until such time as the record of the sale or disposition (or corresponding receipt) is more than 20 years old. It's a rolling window. Once a record (i.e. the bound book entry for a particular firearm) is more than 20 years old it can just get cut out of the bound book.