Posted: 8/1/2008 8:59:39 PM EDT
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If an 01 FFL wishes to buy a firearm for his/her collection do they 4473 themselves or just enter it in their books to themselves? If an 01 FFL sells a gun from his/her personal collection is it entered into the books then 4473'd to the buyer or would it be like a FTF transaction? Thanks, just curious and nothing to do on a Fri night. 
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Here are the correct answers....
Depends on whether the FFL is a sole proprietor or business entity. From ATF FAQ: (D3) Does a dealer have to execute ATF Form 4473 to take a weapon out of the dealer’s inventory for his or her own use? No. However, the "bound book" must reflect the disposition of the firearm from business inventory to personal use. However, if the business is a corporation, and the firearm is being transferred to a corporate officer or director for other than business purposes, then a Form 4473 must be executed.
Again, from the ATF FAQ: (E8) May a licensee who has firearms in his or her private collection sell any of these firearms without making firearms record entries? A licensee may sell a firearm from his or her personal collection, subject only to the restrictions on firearm sales by unlicensed persons, provided the firearm was entered in the licensee’s bound book and then transferred to the licensee’s private collection at least 1 year prior to the sale. When the personal firearm is sold, the sale must be recorded in a "bound book" for dispositions of personal firearms, but no ATF Form 4473 is required. |
We closed our gun shop about three years ago. I made a habit of actually going through the law books the ATF sends to dealers. For personal weapons taken out of inventory put in your collection, no 4473. You just log it out in your name.When you sell a personal weapon you can log it in a separate bound book with no 4473( just be sure you ID the buyer), or log itback into inventory & sell with 4473 filled out.This may have changed in the last 2-3 years though. |