Dealer Transfering Gun from Inventory to Himself

[TheRaspyRabbit]

Hi Guys,
I'm a fairly new FFL and have, what I'm sure is a stupid question but after going through the riggers of getting all of our licenses, permits, etc. and opening the shop, my mind has turned to mush

Anyway, as a dealer how do I transfer a firearm for our stock to my self...do I just run it through DROS/4473 but with waiting period and background check exemption? And I'm sure I have to show as taxable on my BOE filing.

[tenpercentfirearms]

Are you a sole proprietor/partnership or corporation?

For sole proprietor and long guns you simply put a transaction in your bound book that looks like "10/14/12 | Wesley Morris | For owners personal collection" That is it. No DROS required. Yes, you need to probably create a sales receipt and show that sales tax was collected.

For sole proprietor and handguns, you must run DROS. Anytime you run DROS, it is a good idea to do a 4473 as well even though I don't think technically you have to (not sure of that one, I always fill out a 4473 if a DROS is run). Once you are in handgun sale or curio relic/exempt the first screen asks for a 10 day wait exemption. You put in FFL with CFD or whatever it says there and put in your CFD number in the box. Fill out a 4473, but note you are not going to sign the second customer sign out since you are taking it that same day. You are also going to sign in the dealer section too. I file the 4473 like normal and sign it out in the book with a normal control number pointing to this 4473.

For corporation long gun, you can only skip the 10 days if you are actually on the CFD and FFL (this is where I am at). The State of California does not require you to DROS, but the federal government wants a 4473. So I fill out a 4473 and I skip the state background check information and go down to the background check exempt section. I only sign the 4473 once and then sign the dealer section. I file the 4473 like normal and sign it out in the book with a normal control number pointing to this 4473.

For corporation hand gun, treat it like a normal customer DROS with the exception of on the first DROS page once in handgun sale or curio/relic, make yourself 10 day wait exempt and put your CFD number in the box. File the 4473 and DROS like normal.

[TheRaspyRabbit]

Thanks for the very thorough response. I am like you, incorporated and I am also the responsible person for the FFL and CFD. Thanks again for the info

[kemasa]

...
For sole proprietor and handguns, you must run DROS. Anytime you run DROS, it is a good idea to do a 4473 as well even though I don't think technically you have to (not sure of that one, I always fill out a 4473 if a DROS is run).

I was told by the BATF person that I know to not fill out the 4473. As a sole proprietor you don't have to and it is another 4473 that they can write you up for if you make a mistake, the same for people who have a C&R FFL. So, it is not really a good idea to do a 4473 when you don't have to.

There is also the requirement that the firearm go through your book if you sell it within a year if you don't fill out the 4473, as well as logging the disposition of firearm from your personal collection.

[San Jose Gun Trader]

There is also the requirement that the firearm go through your book if you sell it within a year if you don't fill out the 4473, as well as logging the disposition of firearm from your personal collection.

Maybe I had a long day at work... could you provide an example? This is valuable information.

[tenpercentfirearms]

Maybe I had a long day at work... could you provide an example? This is valuable information.

Read through this thread.

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

[kemasa]

Maybe I had a long day at work... could you provide an example? This is valuable information.

Please see:

http://www.law.cornell.edu/cfr/text/27/478.125a