Posted: 11/1/2006 7:34:13 AM EDT
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He may sell the firearm from his personal collection if it has been in that collection for more than one year. No 4473 is required when he sells the firearm but the firearm must be entered in a bound book for personal firearms and the buyers information must be entered in the disposition section of that bound book. See 27CFR §478.125a.
TITLE 27--ALCOHOL, TOBACCO PRODUCTS, AND FIREARMS CHAPTER II--BUREAU OF ALCOHOL, TOBACCO, FIREARMS, AND EXPLOSIVES, DEPARTMENT OF JUSTICE PART 478_COMMERCE IN FIREARMS AND AMMUNITION--Table of Contents Subpart H_Records Sec. 478.125a Personal firearms collection.
(a) Notwithstanding any other provision of this subpart, a licensed manufacturer, licensed importer, or licensed dealer is not required to comply with the provisions of Sec. 478.102 or record on a firearms transaction record, Form 4473, the sale or other disposition of a firearm maintained as part of the licensee's personal firearms collection: Provided, That (1) The licensee has maintained the firearm as part of such collection for 1 year from the date the firearm was transferred from the business inventory into the personal collection or otherwise acquired as a personal firearm, (2) The licensee recorded in the bound record prescribed by Sec. 478.125(e) the receipt of the firearm into the business inventory or other acquisition, (3) The licensee recorded the firearm as a disposition in the bound record prescribed by Sec. 478.125(e) when the firearm was transferred from the business inventory into the personal firearms collection or otherwise acquired as a personal firearm, and (4) The licensee enters the sale or other disposition of the firearm from the personal firearms collection into a bound record, under the format prescribed below, identifying the firearm transferred by recording the name of the manufacturer and importer (if any), the model, serial number, type, and the caliber or gauge, and showing the date of the sale or other disposition, the name and address of the transferee, or the name and business address of the transferee if such person is a licensee, and the date of birth of the transferee if other than a licensee. In addition, the licensee shall cause the transferee, if other than a licensee, to be identified in any manner customarily used in commercial transactions (e.g., a drivers license). The format required for the disposition record of personal firearms is as follows:
Disposition Record of Personal Firearms ---------------------------------------------------------------------------------------------------------------- Description of firearm Disposition ---------------------------------------------------------------------------------------------------------------- Name and address Manufacturer and/ Model Serial No. Type Caliber or Date (business Date of birth if or importer gauge address if nonlicensee licensee) ----------------------------------------------------------------------------------------------------------------
(b) Any licensed manufacturer, licensed importer, or licensed dealer selling or otherwise disposing of a firearm from the licensee's personal firearms collection under this section shall be subject to the restrictions imposed by the Act and this part on the dispositions of firearms by persons other than licensed manufacturers, licensed importers, and licensed dealers.
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