Buying firearms for Dealer's inventory & personal collection

[Santa Cruz Armory]

I'm still confused on this... One minute I think I get it, then I don't. I want to make sure I'm clear on this.

A couple questions:

#1

Can I buy a rifle from a private party, log it in and keep it in my A&D book until I sell it to any old customer or do I need a second hand dealer license for this? Is this legit? Same question for a pistol.

#2

What is the process to buy a rifle from an unlicensed person for my personal collection? and same question for a pistol. Do I have to 4473/DROS into my personal collection?


Thanks guys.

[mcgill]

Can I buy a rifle from a private party, log it in and keep it in my A&D book until I sell it to any old customer or do I need a second hand dealer license for this? Is this legit? Same question for a pistol.

Yes you may and that is exactly what you do AND you will need a 2nd-hand license. You will also follow all 2nd-hand rules wrt any additional paperwork or hold time.

Take a look at these other posts titled:

ATF considers PPT guns "used" guns/ requires 2nd hand license
and
Dealer's Report of Handgun Acquisition

These recent posts contain comments that were derived from many other Calguns posts regarding this topic.

[EBR Works]

As to question #2 I don't think you need a 2nd hand dealer's license for that. I would process it as a PPT or dealer transfer to yourself. In my case, my company is a corp so I treat "me" as a normal buyer that is exempt from 1 in 30 and 10 day wait and do DROS and 4473.

[ugimports]

As to question #2 I don't think you need a 2nd hand dealer's license for that. I would process it as a PPT or dealer transfer to yourself. In my case, my company is a corp so I treat "me" as a normal buyer that is exempt from 1 in 30 and 10 day wait and do DROS and 4473.

Are you exempt from 1-30 and 10 day wait because you have a personal FFL03+COE from your company?

My dealer FFL is a corp as well so I didn't give myself a 10 day exemption for anything except C&R pistols since I have an FFL03 in my name as well and obviously a COE for the "corp" FFL. My 1-30 exemption also comes from the FFL03+COE combo not from my Corp FFL.

Did I just misunderstand your post or maybe I am just being overly cautious with myself. I don't really care about the 10 day wait other than paper because I can still go shoot the gun if I want to as long as I store it in the office safe until I sign it out to myself.

[EBR Works]

CFD and COE are in my name, plus I have a LTC.

[tenpercentfirearms]

My dealer FFL is a corp as well so I didn't give myself a 10 day exemption for anything except C&R pistols since I have an FFL03 in my name as well and obviously a COE for the "corp" FFL. My 1-30 exemption also comes from the FFL03+COE combo not from my Corp FFL.

You are legit even though it is a corp as long as you have a CFD cover sheet with your name on it.

http://www.calguns.net/calgunforum/showthread.php?t=447318

I called the field agents and they confirmed it. They don't care about Federal requirements, they consider anyone with a CFD cover sheet exempt from long gun DROS. You just need to fill out a 4473 for long guns, but no DROS.

In fact I did it today. On the 4473 I did the part that said I was exempt from NICS (I didn't even check proceed in the NICS section), I attached a copy of my DL that I probably didn't need to and a copy of my CFD cover sheet. Took two long guns home with me.

[kemasa]

Actually, I don't think that you need to fill out a 4473 to transfer a firearm into your personal inventory if the FFL is in your name.

[tenpercentfirearms]

Actually, I don't think that you need to fill out a 4473 to transfer a firearm into your personal inventory if the FFL is in your name.

If you are a sole-proprietorship or a partnership, you are correct. If you are a corporation, you need to fill out a 4473.

[kemasa]

That is what I meant by the FFL in your name :-).