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This is my understanding
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I didn't have to do that.
@akchef - I was a Type 09 / Class III when I was forced from business. I had to:
a. Transfer any post-sample MGs out of inventory. These could go to another SOT, LE, or be abandoned to ATF.
b. File forms for anything else I chose to transfer tax-free prior to 06/30.
c. Log all remaining items (both Title I and II) out to myself in my bound book. No 4473, transfer forms, or NICS necessary. I dated it for my last day in business and wrote "To Owner's Private Collection" in the disposition area. For me, this included ALL legal classes of everything. Pre-sample MG, a post-68 import SBS, "normal" Title II, and normal Title I.
Note that eForms weren't a thing back then. I strongly recommend both saving electronic copies of approvals AND printing copies too.