C&R bound book question

[Flyboy73]

I have one those Romanian TT-33 I got from CAI a while back. While back they would only go to a 01 FFL. So I had transferred through my local FFL.

Now I see that they are 03 now. Just got the email from AIM this week saying there were C&R eligible.

Do I have to log it my bound book now? Or just if I want to sell it as a C&R? I log all my C&R guns in book even if I didn't use my license.


Brion

 

[Bentley8]

You only log in items you acquire while you have your license. If you sell it you would need to log it out.

 

[Flyboy73]

Well i did acquire while i had my license, however at the time it was not C&R.

Brion

 

[AZAndy]

When the purchase is made, you only have until the end of the next business day to enter it in your book. Thus you'd be breaking a rule if you put it in now.

That said, it might be worthwhile to contact the ATF to ask them. I can't find anything in the laws and regulations that specifically apply to your situation.

 

[Chipperman]

It was not a C&R gun when you acquired it.

It does not need to be entered now, but you could enter it if you choose.
It will need to be entered if you sell it.

 

[Ed Ames]

My understanding:

If it wasn't a C&R it didn't need to go in your bound book. That doesn't mean it *COULDN'T* be listed, mind you, but it didn't need to be.

One assumes it is a C&R now so if you sell it while you have your license you'll need to put it in the bound book then.

Nothing says you must put it in the bound book now though.

I'm waiting to see or hear of a down-side to simply booking every gun that is part of your "collection" (which doesn't mean every gun... think like a museum... the guns in the display cases are part of the collection, the guns in the guards' lockers or on their belts are part of the security infrastructure) upon acquisition and treating the bound book as a collection ledger. It should be kept in a fire safe and so on anyway so it becomes part of the insurance documentation as well.

edit: what chipperman said.

 

[baz]

It will need to be entered if you sell it.

Why? If it did not need to be entered in the book when acquired, then it is not in my 03 "collection." Just because a gun is 03 eligible doesn't mean that it has to be handled by an FFL. If I go to a gun shop, or a gun show, and acquire an "eligible" milsurp after filling out a 4473, it is not part of my 03 "inventory." I don't put it in my bound book when I acquire it, and I don't when I sell it. Are private acquisitions for C&R holders somehow different? My thinking is that only if a firearm is transfered to me as an 03 FFL holder does it ever go in my bound book. Can you cite a regulation to the contrary?

 

[Ed Ames]

27CFR178.125 has you covered Baz.

"Each licensed collector shall enter into a record each receipt and disposition of firearms curios or relics."

Nowhere does it say "each receipt and disposition made using an 03 FFL." It says each receipt (find it, buy it, receive it as a gift) and disposition (sell it, lose it, give it as a gift, destroy it, have it stolen). ATF and many others interpret that to mean all firearms curios or firearm relics (as legally defined) must be recorded while you are a licensee.

 

[Chipperman]

Baz, you need to enter any C&R acquisitions or dispositions while you have your license, even if you don't use the license to acquire them.
--------------------------------

Suppose you own a k98 that you've had for 10 years. You get a C&R license this year. The k98 does not need to go into the book, b/c you had before you got the license. Now you decide to sell it. It DOES need to be logged now, b/c you are selling while you have the license.

Now suppose you go to a gun store and see a nice Makarov that you want. You forgot to bring a copy of your C&R, so you just fill out a 4473. When you get home, you NEED TO ENTER IT, although you did not use the C&R to acquire it.

Flyboy73's situation is unusual. He had the license when he acquired the gun, but it was not C&R eligible at that time. He already owned it when it became C&R, so he does not need to log it-- but he can if he wants.

 

[Gator]

I'd log it into my book. It may not be strictly necessary, but in the unlikely event I ever got audited it would mean less explaining to do.