Quote Originally Posted by BlasterBob View Post
At one time, it was questionable if the Colorado FFL dealer was actually obligated to run the transfer through his bound book in addition to getting the BGC, Also, it was questioned whether or not there was any chance the FFL dealer may some how be obligated to collect any tax on the transfers if the firearm was actually run through his bound book. Apparently those concerns have all settled down.
https://www.atf.gov/firearms/docs/ru...earms/download

If it never went thru the dealers "bound book" then the only record of the transfer would be the 4473. Which has to be numbered and coincide with the FFL's bound book. Conducting a BGC without a firearm is against the law. The ATF had to put out a ruling on how to conduct BGC for private party transfers after Colorado made it a law.