bound book question

[matt_yamaha_guy_450]

It has probably been brought up before but I can't seem to find the answer... If I own C&R guns prior to having a C&R liscence do they need to be recorded in my bound book? It is to my understanding that I read anything that classafies as a C&R gun after having the liscence in your possession is what needs to be recorded not what you owned before the liscence.

 

[Seagrave1963]

You are correct, only the C&R firearms you took or relinquished possession of while licensed as FFL03.

It would be prudent to have information for all of your firearms in a safe place in the unlikely event of a natural catastrophe or theft of other loss to provide accurate and proper notification to Law enforcement and/or Insurance.

 

[bbrown]

In addition, if you sell one of your C&Rs that you had *before* you were licensed, you have to enter it into your BB (as coming from your personal collection prior to being licensed), then log it out to the purchaser.

Bryan

 

[lee2]

In addition, if you sell one of your C&Rs that you had *before* you were licensed, you have to enter it into your BB (as coming from your personal collection prior to being licensed), then log it out to the purchaser.

Bryan

it is my understanding is that if its on your books, it goes out on your books.

 

[zoostation]

it is my understanding is that if its on your books, it goes out on your books.

he's correct, if you own a C&R gun before you get licensed and sell it while you are licensed then it is supposed to be recorded. The record-keeping requirement applies to all C&R acquisitions and dispositions, even if the disposed firearm was owned pre-licensing.

 

[Seagrave1963]

A little long, but here is the exact wording from ATF. Once you become a licensed collector, you are required to perform the following regarding receipt and disposition of each firearm. (Had to look it up in hard copy and then find it to "cut and paste" for convenience)

(f) Firearms receipt and disposition
by licensed collectors. Each licensed
collector shall enter into a record each
receipt and disposition of firearms curios
or relics. The record required by this paragraph
shall be maintained in bound form
under the format prescribed below. The
purchase or other acquisition of a curio or
relic shall, except as provided in paragraph
(g) of this section, be recorded not
later than the close of the next business
day following the date of such purchase or
other acquisition. The record shall show
the date of receipt, the name and address
or the name and license number of the
person from whom received, the name of
the manufacturer and importer (if any), the
model, serial number, type, and the caliber
or gauge of the firearm curio or relic. The
sale or other disposition of a curio or relic
shall be recorded by the licensed collector
not later than 7 days following the date of
such transaction. When such disposition is
made to a licensee, the commercial record
of the transaction shall be retained, until
the transaction is recorded, separate from
other commercial documents maintained
by the licensee, and be readily available
for inspection. The record shall show the
date of the sale or other disposition of
each firearm curio or relic, the name and
address of the person to whom the firearm
curio or relic is transferred, or the name
and license number of the person to whom
transferred if such person is a licensee,
and the date of birth of the transferee if
other than a licensee. In addition, the licensee
shall—
(1) Cause the transferee, if other
than a licensee, to be identified in any
manner customarily used in commercial
transactions (e.g., a driver’s license),
and note on the record the method
used, and
(2) In the case of a transferee who is
an alien legally in the United States and
who is other than a licensee—
(i) Verify the identity of the transferee
by examining an identification
document (as defined in § 478.11),
and
(ii) Cause the transferee to present
documentation establishing that
the transferee is a resident of the
State (as defined in § 478.11) in
which the licensee's business premises
is located if the firearm curio or
relic is other than a shotgun or rifle,
and note on the record the documentation
used or is a resident of any
State and has resided in such State
continuously for at least 90 days prior
to the transfer of the firearm if the
firearm curio or relic is a shotgun or
rifle and shall note on the record the
documentation used. Examples of
acceptable documentation include
utility bills or a lease agreement
which show that the transferee has
resided in the State continuously for
at least 90 days prior to the transfer
of the firearm curio or relic.
(3) The format required for the record
of receipt and disposition of firearms by
collectors is as follows: (See Table 5)

 

[bbrown]

Once you become a licensed collector, you are required to perform the following regarding receipt and disposition of each firearm.

My only quibble about this statement is that it applies only to C&R firearms. If you buy a recently-made AR-15, then it does *not* go into your BB. Only C&R firearms go into and out of your BB.

Bryan

 

[Seagrave1963]

My only quibble about this statement is that it applies only to C&R firearms. If you buy a recently-made AR-15, then it does *not* go into your BB. Only C&R firearms go into and out of your BB.

Bryan

You are correct Bryan. FFL03 does not apply to regulated firearms and the holder is still bound by State and local laws e.g. C&R handguns in MD transfer through FFL01 or MSP.

The OP specifically referenced C&R firearms and that was the context I was addressing.

 

[Boom Boom]

A C&R firearm owned prior to having a C&R FFL only goes into your bound book if you sell it while your C&R is active. Not any sooner.

 

[matt_yamaha_guy_450]

Well thanks for the help i was trying to find the answer myself on the atf website but i must have overlooked it with all of thier fancy wording! So if i go to see one of my c&r's that i already own i will record the deposition part in the book and from here out whatever c&4 i buy it gets recorded hmmm now what gun do i want first so far aim surplus and j&g sales has my ffl on file