Couple of C&R questions...

[Gottahaveone]

Hi All,
I'm about to (finally) apply for a C&R license. I have a couple of questions.
First, will I have to enter currently owned C&R eligible firearms into the bound book? I have no way to prove purchase date of many of them.

And if I'm at a local store and buy a C&R qualified mil-surp without using the license, would I still have to enter that purchase?

Thanks in advance for any advice.....

 

[joem1945]

C&R firearms purchased before you have your C&R FFL do not have to be entered in your bound book. Make sure to buy a approved bound book to record your buys. You have 24 hours to record the purchase but do it as soon as you get the package and open it. Just so you don't forget to do it. Any other firearms you purchased should not be entered in your bound book.

 

[il.bill]

NO - you only MUST enter a C&R eligible firearm that you owned before the 03FFL IF/WHEN you dispose of it while holding the license. It is then entered into your Bound Book as an Acquisition from your private/personal collection on that date, and then as a Disposition to whomever it goes.

YES - any and every C&R eligible firearm you Acquire while an 03FFL Licensee must be entered into the book, even if it was not acquired by using that license (such as receiving it as a gift from your brother or buying it from an 01FFL by going through the full Joe Everyman background check and any required waiting period.

 

[rromeo]

The saying goes "you don't use your license, you are licensed." That means exactly what il.bill said.

 

[Sistema1927]

il.bill beat me to it. The answers to your questions, in order, are No and Yes.

 

[dogtown tom]

joem1945 .....Make sure to buy a approved bound book to record your buys.

ATF doesn't "approve" bound books or any particular recordkeeping system. While you can buy bound books that meet the format ATF requires, a collecton of loose pages in a three ring binder in the required format is acceptable.
As long as you meet the requirements of §478.125 (f) (2) you are fine.


http://www.ecfr.gov/cgi-bin/text-idx?SID=70394195a3edf623eba7ce77a1bddff1&node=27:3.0.1.2.3&rgn=div5#se27.3.478_1125

You have 24 hours to record the purchase...

It's not 24 hours.
From 478125 (f) (1) "The purchase or other acquisition of a curio or relic shall, except as provided in paragraph (g) of this section, be recorded not later than the close of the next business day following the date of such purchase or other acquisition...."