Record Keeping
FFL holders are required to keep a registry of firearms sales in an ATF-approved Bound Book, or a computerized equivalent using ATF-approved software. Licensed dealers must also maintain file copies of Form 4473 or eForm 4473 "Firearms Transaction Record" documents, for a period of not less than 20 years after the date of sale or disposition. When retiring or otherwise relinquishing a license, these records are sent to the BATFE's Out-of-Business Records Center. Licensed collectors are not required to send their records to the BATFE when relinquishing their license. The ATF is allowed to inspect, as well as request a copy of the Form 4473 from the dealer during the course of a criminal investigation. In addition, the sale of two or more handguns to a person in a five business day period must be reported to ATF on Form 3310.4.
Read more about this topic: Federal Firearms License
Famous quotes containing the words record and/or keeping:
“All photographs are there to remind us of what we forget. In this—as in other ways—they are the opposite of paintings. Paintings record what the painter remembers. Because each one of us forgets different things, a photo more than a painting may change its meaning according to who is looking at it.”
—John Berger (b. 1926)
“If you falter, and give up, you will lose the power of keeping any resolution, and will regret it all your life.”
—Abraham Lincoln (1809–1865)