Any reason for a C&R (03) AND a 07 FFL??

[831Shooter]

Hi All,

I am new to both collecting as well as getting "in the business".

I bought my first C&R long gun and got bit by the bug. I would like to start collecting. That said I am going to be stating up my own firearms business, but it may not happen for another 6-9 months or so..

Is there ANY reason/advantage that I would want to have both an 03 and an 07? Besides the fact that I can start collecting with the 03 before I get my 07..

I'm guessing no, but as I am new to both maybe I am missing something.

Thanks for any help!

831S

[Quiet]

AFAIK...
You have to give up your 03-FFL in order to become a 01-FFL or 07-FFL.

[efillc]

The OP could have an 03 in his own name, and the 01 or 07 in the name of a corp or LLC.

[831Shooter]

The OP could have an 03 in his own name, and the 01 or 07 in the name of a corp or LLC.

Thanks guys..

effillc.. that is correct. my business would be an LLC or S corp..

But I am still wondering if there is any advantage to having an 03 if I will have an 07? I mean, you don't NEED an 03 to collect.. I would just end up paying a little more for long guns in the meantime since they would need to transfer through an 01/07.. C&R handguns need to ship to an 01/07 anyone correct?

If I keep my C&R collection in my personal collection as an 07 FFL, is there any advantage to having an 03 instead?

Thanks!

831S

[OCArmory]

If you are out of state you can take delivery from a dealer on C&R firearms with your 03. If you are using your 07 it must be shipped to you by common carrier.

[kemasa]

AFAIK...
You have to give up your 03-FFL in order to become a 01-FFL or 07-FFL.

Really? I have had a 01 & 03 FFL for many years. What do you base that statement on?

[831Shooter]

If you are out of state you can take delivery from a dealer on C&R firearms with your 03. If you are using your 07 it must be shipped to you by common carrier.

Thanks OC.. That sounds like one valid reason. Though I don't know how often I would be buying C&R guns while I am in another state.

Does that also apply to C&R handguns?

[831Shooter]

Really? I have had a 01 & 03 FFL for many years. What do you base that statement on?

Kemasa - If you don't mind my asking.. What is the reason that you keep your 03 also having an 01?

Thanks,
831S

[kemasa]

Kemasa - If you don't mind my asking.. What is the reason that you keep your 03 also having an 01?

That is a fine question. I wish I had a fine answer for it.

In part it is a separation between my business and personal. Another aspect is if I were to decide to get rid of my 01 FFL I would still want the 03 and would not want to have to apply again. But unfortunately I think that the real answer is that it is just easier to keep both :-). Well, even that is not quite true since I have to do the renewal, but it is easier than to decide to give up the 03 FFL :-).

[831Shooter]

That is a fine question. I wish I had a fine answer for it.

In part it is a separation between my business and personal. Another aspect is if I were to decide to get rid of my 01 FFL I would still want the 03 and would not want to have to apply again. But unfortunately I think that the real answer is that it is just easier to keep both :-). Well, even that is not quite true since I have to do the renewal, but it is easier than to decide to give up the 03 FFL :-).

Actually.. Good enough answer.. For the minimal cost I suppose I might as well just get my C&R now.. When I get my 07, if I decide to give it up I will still have the 03..

Also, who knows what laws will change. Better to get it know while it's a simple process.

Thanks all!

[Quiet]

Really? I have had a 01 & 03 FFL for many years. What do you base that statement on?

Friend in AZ had a 03-FFL, want to be a 01-FFL.
ATF auditor told him he had to surrender the 03-FFL in order to get the 01-FFL.

Could be ATF was blowing smoke, I don't know (friend did not persue the issue).

Hence, the AFAIK (As Far As I Know) post.

[kemasa]

I was told that when I moved and was issued a new FFL number that I had to turn in all my records. I called the records division and was told that I didn't since I was still in business. I informed the inspector this, including the name and number and the matter was dropped. Yeah, you get wrong information at times.

I suspect those that are watching will let me know if I am wrong.

[OCArmory]

The other thing is the inspector might have wanted to impress upon him that he would now be a dealer and not a collector. I have an 07 and an 01. didn't give up the 01 because I was lazy.
Mike