FFL03 + FFL01

[xbxb040]

I have submitted all the necessary docs for an FFL03, have not received anything back from DOJ or ATF, though I saw the ATF check cleared. Now, my question is about holding both the FFL03 and the 01. Are there any issues with doing this?

I am considering applying for home based FFL 01 and just selling to friends family and possibly on gunbroker, just as a hobby/to fund my own firearm related purchases. And I really don't want to lose the ability to purchase c&r firearms for my collecting hobby.

Also, how does a PPT work once you hold an FFL 01, say you want to sell a personal firearm?

[ugimports]

No issue having multiple FFLs (01/03/07/etc) assuming you track everything properly.

What's the specific question about a PPT? You do the exact same thing as you do now as a non-FFL. You can only PPT a firearm that is in your personal inventory. Firearms in the FFL01 inventory belong to the business, not you personally.

You would decide whether you want to be the FFL processing the PPT or if you do at another FFL. Paperwork is all the same.

[xbxb040]

Thank you for your response.

The PPT question was primarily meant to be geared toward selling/trading C&R firearms acquired with the FFL03, but also non C&R. Since the FFL03 states not for conducting business(profit) I was mainly curious as to how to go about selling/trading C&Rs. Seems this is less of concern now having learned that I cant have C&Rs shipped direct to me. So I wont likely be acquiring as many C&Rs as I had expected to. Though with an FFL01 I could? Would that require an LLC? I assume if the business facilitates the transfer, you CAN have C&Rs shipped direct? Which brings me to...

So, how does transfering a firearm from your business to yourself work? Does it work at all? I ask since the FFL01 says for profit only.

If possible, I imagine if you are not an exempt person, you can not transfer an off roster from your business to yourself. And does the firearm still require a cooling off period? As a home based FFL, how do you not take possession of a handgun transferred to yourself prior to 10 days?....my brain is overheating

[ugimports]

Though with an FFL01 I could? Would that require an LLC? I assume if the business facilitates the transfer, you CAN have C&Rs shipped direct? Which brings me to...

Depends what you mean by shipped direct to you. You can still have C&Rs ship to your FFL01 and then transfer them to your FFL03+COE with DROS and cash/carry (no wait).

So, how does transfering a firearm from your business to yourself work? Does it work at all? I ask since the FFL01 says for profit only.

Depends how you setup your FFL. If you do an LLC like I have you DROS it to yourself like any other customer. 4473+DROS for every firearm. The 1 advantage you have as an FFL is no 1-30 for handguns. Paperwork is slightly different if you are sole proprietor. I think you can skip the DROS (don't quote me on that, ask a sole pro in these forums). Or maybe it's skip the 4473.

And does the firearm still require a cooling off period?

No - your CFD exempts you for all firearms from 1-30
Your FFL03+COE exempts you from C&Rs (since you would be transferring your C&Rs to this license when going to your personal inventory)

No offroster or any other "specialness" for you. You can have off roster in your inventory if you want to play with it and eventually sell it used out of state or to LEO.

As a home based FFL, how do you not take possession of a handgun transferred to yourself prior to 10 days?

You leave it in the business safe and don't click "Delivered" on the DES system. I don't know why you'd make yourself wait though.