Firearms Acquisition and Disposition Records

Questions and Answers

What is the maximum imprisonment term for participating in a straw purchase if the firearm is used for a felony?

20 years

25 years (correct)

15 years

10 years

What are the penalties for a person who violates sections 932 or 933 of the U.S.C.?

Fines and imprisonment for no more than 15 years (correct)

Fines only

Imprisonment for no more than 5 years

Community service

Which of the following is a requirement regarding firearms located within 1,000 ft of a school zone?

They can be carried openly.

They must be registered with local authorities.

They can be left unsecured.

They must be unloaded and stored in a locked container. (correct)

What is the consequence of knowingly purchasing a firearm on behalf of another person?

It is unlawful and can result in fines or imprisonment. Signup and view all the answers

What is the penalty for any person convicted of firearm trafficking?

Imprisonment for no more than 15 years. Signup and view all the answers

By when must acquisitions be logged by dealers?

By close of business next business day Signup and view all the answers

What is the required logging time for dispositions by importers?

Within 7 days of importation Signup and view all the answers

What must be done within 15 days by importers?

Log acquisitions Signup and view all the answers

What is NOT allowed in computerized acquisition and disposition records?

Manipulation of the internal audit log Signup and view all the answers

How should a transferee complete ATF Form 4473?

Sections A and C Signup and view all the answers

When must dispositions be logged by manufacturers?

Within 7 days of acquisition or manufacture Signup and view all the answers

Which of the following statements about identity verification is TRUE for ATF Form 4473?

A valid ID must include a full legal name and current address Signup and view all the answers

What is the condition for computerized records according to ATF Ruling?

Must be queried by at least three methods Signup and view all the answers

What is illegal regarding firearms that have an obliterated serial number?

All of the above Signup and view all the answers

What is the minimum barrel length for a firearm to be classified as a Short Barrel Rifle (SBR)?

16 inches Signup and view all the answers

Which method is NOT used for retaining 4473s?

Geographical order Signup and view all the answers

What must be done if there are errors found on a firearm license?

Return the license to the Chief, National Licensing Center Signup and view all the answers

How often is a firearm license valid before needing renewal?

Three years Signup and view all the answers

What is an acceptable document to prove residency for aliens in the U.S.?

A utility bill Signup and view all the answers

What is required when there is a change of address for a firearm license holder?

Notify ATF 30 days prior Signup and view all the answers

What must be established before a licensee sells a firearm to a non-licensee?

The buyer's identity, residence, and age Signup and view all the answers

Under what condition is a NICS check NOT required?

Sale to a non-licensee Signup and view all the answers

What should be done if a straw purchase is suspected?

Notify ATF and stop the transaction Signup and view all the answers

What identifies a firearm as a curio or relic?

It is 50 years old Signup and view all the answers

What must a dealer provide when a handgun is sold?

Proof of secure storage Signup and view all the answers

What is the time frame within which a NICS transaction is valid?

30 days Signup and view all the answers

What type of firearms do not require a 4473 to be filled out?

Antique firearms made on or before 1898 Signup and view all the answers

When must multiple handgun sales forms be completed?

Within 5 business days of purchase Signup and view all the answers

If firearms are kept overnight for gunsmithing, what must be done?

They must be logged in Signup and view all the answers

What should be done in the case of a theft or loss of firearms?

Notify the ATF immediately Signup and view all the answers

What happens if the licensee does not respond to a tracing request in a timely manner?

They will lose their FFL Signup and view all the answers

What marking must licensees add to a PMF without a serial number?

RDS Key and a unique number Signup and view all the answers

What should be done when receiving firearms on consignment?

They must be recorded and completed with Form 4473 for returns Signup and view all the answers

What is the purpose of IRS Form 8300 in the context of firearm transactions?

To report cash payments over $10,000 Signup and view all the answers

What can be verified using the FFL EZ Check?

The validity of the FFL's business Signup and view all the answers

Who must provide a letter stating the firearm will not be resold?

The head of the law enforcement agency Signup and view all the answers

What is the consequence of having a firearm with an altered serial number?

Felony charges may apply Signup and view all the answers

What should licensees do when suspicions of fraud arise?

Verify the validity of the licensed FFL Signup and view all the answers

What is prohibited when selling firearms?

Selling to individuals answering 'YES' on the ATF Form 4473 Signup and view all the answers

What is the minimum age for purchasing ammunition for handguns?

21 years Signup and view all the answers

What is the primary objective of a firearms manufacturer?

To maximize profit through the sale of firearms Signup and view all the answers

What must be engraved on the frame or receiver of a manufactured firearm?

Model, caliber, and state of manufacture Signup and view all the answers

When is the Annual Firearms Manufacturing & Export Report due?

April 1 Signup and view all the answers

What happens if more than 50 guns are sold by a manufacturer?

The manufacturer must contact TTB for tax information. Signup and view all the answers

What is needed to engage in the business of importing firearms?

A federal firearms license and a registration as an importer Signup and view all the answers

What is the consequence for possessing unregistered NFA firearms?

Up to 10 years imprisonment and a $250,000 fine Signup and view all the answers

Which form is used to apply to make and register a firearm?

Form 1 Signup and view all the answers

What must an importer do within 15 days of acquiring firearms?

Record their acquisition Signup and view all the answers

What type of firearms are included under NFA firearms?

Machine guns and silencers among others Signup and view all the answers

Who regulates the exportation of firearms?

The State Department Signup and view all the answers

What is the penalty for straw purchasing firearms under 18 U.S.C. 932?

Increased fines Signup and view all the answers

Which tax must all firearms manufacturers pay?

Excise Tax if over 50 guns are sold Signup and view all the answers

What is the fee for a Class 2 Manufacturer's Special Occupational Tax?

$1,000 Signup and view all the answers

What must be submitted to Customs for each shipment of imported firearms?

Form 6A Signup and view all the answers

Study Notes

Required Records and Reports

Acquisition and Disposition Records:
- Record acquisitions within the next business day and dispositions within 7 business days.
- Dealers must log acquisitions by the end of the next business day and dispositions within 7 days.
Collectors and Manufacturers:
- Collectors also register acquisitions next business day; manufacturers have 7 days for both acquisitions and dispositions.
Importers:
- Imports logged within 15 days; dispositions within 7 days.
- Maintain separate records for licensees and non-licensees.
Computerized Records:
- Must meet 14 criteria including the ability to query firearms by serial number, acquisition date, or manufacturer name.
- Internal audit logs needed; records must be available for ATF audits.
ATF Form 4473:
- Required for transfers to non-licensees; buyer completes sections A and C, seller fills B and D.
- Identity verification of purchasers is mandatory; valid ID needed.
Multiple Sales Reporting:
- Complete for purchases of two or more handguns within 5 business days.
Reporting Theft/Loss:
- Immediate reporting required, within 48 hours upon discovery; a police report is necessary.
Retention of Records:
- Maintain records for the business's lifetime; keep specific denials and loss reports separate.

Conduct of Business

Frame/Receiver:
- Considered firearms; must be logged in. Sales treated as firearm sales.
Privately Made Firearms (PMFs):
- Must be logged within 7 days and marked if unnumbered.
National Instant Criminal Background Check System (NICS):
- Mandatory for sales and transfers; exceptions exist for certain types of transfers.
- New NICS checks must be initiated after 30 days if the transfer is not completed.
Gun Storage:
- Handguns must be sold with safety devices per the Child Safety Lock Act.
Sales Between Licensees:
- Require a certified copy of the other FFL’s license before transaction.
Gun Shows:
- Transfers is restricted to same-state transactions with compliance to all recordkeeping guidelines.

Licenses

Engagement in Business:
- Defined as devoting time and labor for profit through sale or distribution.
License Maintenance:
- Licenses valid for three years; must renew prior to expiry.
Reporting Changes:
- Notify ATF of address changes or new trade names within 30 days.
Discontinuance of Business:
- Written notification required within 30 days; maintain records for up to 10 years.

Miscellaneous Provisions

Right of Entry:
- ATF can inspect premises during business hours not exceeding once per year.
Tracing Requests:
- Immediate response required, no later than 24 hours.
Straw Purchases:
- Purchasing firearms for someone else is illegal; notify ATF if suspected.
Curios and Relics:
- Firearms over 50 years old; specific licenses required for their sale.
Transportation:
- Firearms must be unloaded and inaccessible from the passenger area.

Gunsmithing Activities

Recordkeeping:
- Gunsmiths must log firearms kept overnight; recommended to separate gunsmith records.
Returns of Repaired Firearms:
- No need for 4473 if returning to the original owner.

NFA (National Firearms Act) Firearms

Definition and Taxation:
- Machine guns and short-barreled firearms regulated; taxes are due for manufacturing and transferring.
Forms for NFA Items:
- Several forms needed for the manufacture and transfer of NFA firearms.

Importers and Exporters

Importer Requirements:
- Must be registered and keep records of acquisitions and dispositions, distinct for licensees and non-licensees.
Exportation:
- Regulated by the State Department; ATF does not oversee firearms export.

Safer Communities Act

Overview:
- Aimed at reducing gun violence, expanding background checks, and improving mental health services.
Straw Purchasing Penalties:
- Increased penalties for illegal purchases made on behalf of others. Repercussions may include imprisonment for up to 15 years.### Trafficking of Firearms
Participation in a straw purchase linked to a firearm used for felonies, terrorism, or drug trafficking can result in a prison sentence of up to 25 years.
Increased fines implemented for offenses related to firearm trafficking.

Penalties for Violations

Violating any subsection related to firearm trafficking can lead to fines, imprisonment for no more than 15 years, or both.
Convictions under U.S.C sections 932 or 933 lead to forfeiture of property tied to the offense, including proceeds obtained directly or indirectly.

Financial Consequences

Individuals profiting from offenses under sections 932 or 933 can face fines up to the greater of the standard authorized fines or twice the gross profits derived from the offense.

Regulations in School Zones

Firearms located within 1,000 feet of a school must be unloaded and stored in a locked container before leaving the premises.

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Description

Test your knowledge on the necessary records and reports required for firearms acquisition and disposition. This quiz covers regulations for dealers, collectors, manufacturers, and importers, along with the requirements for computerized records and ATF Form 4473. Ensure you understand the timelines and protocols outlined for compliance.