Quote Originally Posted by Circuits View Post
For a corp FFL, you don't have to wait a year - you've already gone through the NICS check, so your personal stuff is distinct from your business stuff.
Sec. 478.125a Personal firearms collection.

(a) Notwithstanding any other provision of this subpart, a licensed
manufacturer, licensed importer, or licensed dealer is not required to
comply with the provisions of Sec. 478.102 or record on a firearms
transaction record, Form 4473, the sale or other disposition of a
firearm maintained as part of the licensee's personal firearms
collection: Provided, That
(1) The licensee has maintained the firearm as part of such
collection for 1 year from the date the firearm was transferred from the
business inventory into the personal collection or otherwise acquired as
a personal firearm,
(2) The licensee recorded in the bound record prescribed by Sec.
478.125(e) the receipt of the firearm into the business inventory or
other acquisition,
(3) The licensee recorded the firearm as a disposition in the bound
record prescribed by Sec. 478.125(e) when the firearm was transferred
from the business inventory into the personal firearms collection or
otherwise acquired as a personal firearm, and
(4) The licensee enters the sale or other disposition of the firearm
from the personal firearms collection into a bound record, under the
format prescribed below, identifying the firearm transferred by
recording the name of the manufacturer and importer (if any), the model,
serial number, type, and the caliber or gauge, and showing the date of
the sale or other disposition, the name and address of the transferee,
or the name and business address of the transferee if such person is a
licensee, and the date of birth of the transferee if other than a
licensee. In addition, the licensee shall cause the transferee, if other
than a licensee, to be identified in any manner customarily used in
commercial transactions (e.g., a drivers license). The format required
for the disposition record of personal firearms is as follows:

[[Page 76]]



Disposition Record of Personal Firearms
----------------------------------------------------------------------------------------------------------------
Description of firearm Disposition
----------------------------------------------------------------------------------------------------------------
Name and
address
Manufacturer and/ Model Serial No. Type Caliber or Date (business Date of birth if
or importer gauge address if nonlicensee
licensee)
----------------------------------------------------------------------------------------------------------------


(b) Any licensed manufacturer, licensed importer, or licensed dealer
selling or otherwise disposing of a firearm from the licensee's personal
firearms collection under this section shall be subject to the
restrictions imposed by the Act and this part on the dispositions of
firearms by persons other than licensed manufacturers, licensed
importers, and licensed dealers.


What if the dealer purchases a firearm outside of their FFL name strictly for personal use? Normal over the counter firearm transaction with 4473 and NICS check.
What rules then apply?