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July 11, 2017

ATF Q&A: Licensing

Can I display my private collection for sale or trade next to my business inventory? Can I sell from my private collection without doing NICS checks and completing Form 4473s?

No, you may not display your private collection next to your business inventory because all firearms on the premises of an FFL are deemed to be business firearms unless they are specifically tagged, “Not for Sale.”  An individual FFL who acquires personal forearms that he or she wants to sell as part of a personal collection must first enter them into the A&D records of the business and then transfer them out of the business inventory to himself or herself, and put them into a personal firearms record.  After that point they must be maintained in the personal collection for at least one year.  After a year, they may be sold as part of a personal collection without a Form 4473 or a background check, but the sale must be logged into the personal firearms record.  If they are sold before the year is up, they must be entered back into the FFL’s records and they must be sold as any other business firearm, including an ATF Form 4473 and a background check.