General Discussion
In reply to the discussion: What are you going to do this week to support expanded background checks? [View all]Lee-Lee
(6,324 posts)Yes, all guns sold or transferred via an FFL are required to have the records maintained at that dealer for 20 years, always open to law enforcement inspection.
And every dealer is required to keep a log of every gun that comes in, where it came from, and when sold annotate when and to whom it was sold, AKA the "bound book". ATF can and does audit them, some more often than others.
The old "not required to keep inventory" line is sheer bullshit put out by the ignorant hoping that their audience is just as ignorant. Read the regulations, the requirement to maintain the inventory, or "bound book", is clear.
(E5) How much time does a dealer
have to record acquisitions and
dispositions of firearms in his or
her "bound book?"
Generally, licensees have to enter
the acquisition or purchase of a firearm by the close of the next business
day after the acquisition or purchase
and shall record sales or other dispositions within 7 days.
However, if commercial records
containing the required information
are available for inspection and are
separate from other commercial
documents, dealers have 7 days from
the time of receipt to record the receipt in the "bound book."
If a disposition is made before the
acquisition has been entered in the
"bound book," the acquisition entry
must be made at the same time as
the disposition entry
If you want to read it all:
http://www.atf.gov/files/publications/download/p/atf-p-5300-4.pdf
The statement no inventory is required is a bald faced lie. The bound records required by the BATFE are a very strict inventory record of every gun that comes in and is sold.