Moving a Firearm to Personal Collection

[Nardo1895]

[taperxz]

It depends how your business is structured.

If you are a corporation, you must fill out the 4473 and basically treat yourself like a customer. No separate A&D book. We are still exempt from the 1-30, and 10 day wait as CFD holders.

Someone else can chime in on how to do sole proprietor.

[kemasa]

There isn't any requirement for a personal bound book. As a sole proprietor, there is a person disposition book 478.125a, I think.

You don't need to keep it a year, you just have to transfer it back to your business if you transferred it to yourself as a sole proprietor and didn't fill out a 4473.

A sole proprietor doesn't need to do a 4473. No separate personal collection bound book, just a disposition log, which is close to a bound book.

Any firearms acquired, even from another FFL, are required to be logged into your bound book if you are a sole proprietor.

The year thing is only regarding a sole proprietor transferring a firearm to their personal collection without a 4473 and having to run it back through their business prior to disposing of it within a year. After the year, it can be sold by other means, but still needs to be logged in the personal disposition log.

That is always a good idea.

[Nardo1895]

That all makes sense. The information from the initial interview was a bit overwhelming. Thanks for straightening me out.

[GnomeMoney]

Sorry for my ignorance. Where does the handgun roster come into this? I have herd of some store employees transferring off roster pistols into their personal collection. I assumed this was not correct. Am I wrong?

[kemasa]

Sorry for my ignorance. Where does the handgun roster come into this? I have herd of some store employees transferring off roster pistols into their personal collection. I assumed this was not correct. Am I wrong?

Well, it could be exempt from the roster, such as a single action of a given size, or if the transfer could be exempt, such as a PPT/consignment.

But it is the same as for anyone else, assuming that you want to follow the law.

[Baer1911]

Interesting read, so for corporations, it’s much easier just do a regular 4473 and run a dros right?

What about FFL acquires an off roster handgun but not PPTed to the FFL Owner? Can be said off roster handgun sell back to the public after 30 days wait? Or it then can only be sold to exempted personal?

Thanks guys in advance

[kemasa]

If the FFL's business is a corp, then it is required to fill out a 4473 and DROS. Only sole proprietors have the choice of not filling out a 4473.

What about FFL acquires an off roster handgun but not PPTed to the FFL Owner? Can be said off roster handgun sell back to the public after 30 days wait? Or it then can only be sold to exempted personal?

Business inventory has to follow all the the laws. There is no exemption. A FFL is not exempt from the certified list either. A CA PPT is between two CA residents, not from business inventory.

So, the answer is it could only be sold to exempt person.