#1) You buy and pay for the suppressor. The reason you buy it and let it sit at your dealer's for months is because they Form 4 requires the serial number, dimensions etc of the suppressor you are buying. Obviously, if you dont' have the suppressor, you don't have these details. One important note here: you don't have to pay retail for a suppressor. Check out on-line boards such as AR15.com Equipment Exchange:NFA Firearms&Parts. You will see some deeply discounted suppressors. The first two suppressors I bought, I walked into my dealer's store and had him call the manufacturer and order them. As a result, I paid full retail and waited just about forever to get them. Buying on-line means paying far less, and maybe more importantly: the guy actually has the suppressor in stock. No waiting for the manufacturer to make it. That dealer has to transfer it to your dealer on a form 3. This takes time: a month or more. In this case, your local dealer is making money on the transfer and not on the suppressor. A fair price to pay is somewhere between $50 and $100 for the transfer. You make the deal with the out of state dealer, then have your dealer send him a copy of his FFL and his SOT (I write up the envelope, go to the dealer and ask him for a copy to send). Of course this is all a non-issue if you happen to have a local dealer who actually stocks suppressors and sells below retail.
As an example, I bought that LRM M-169 from Henry at TitleII Firearms in South Carolina. The price he gave me on it was about three hundred less than the retail price on LRM's website. I also bought my AAC M4-2000 suppressor from the same guy. It also was hundreds less than the retail price on AAC's website.
When your dealer gets the suppressor in, you can now do your Form 4. The Form 4 is very simple: it is shorter than a regular 4473 (yellow form). You can fill out the forms as an Adobe Acrobat document on
www.titleII.com then print out a nice, neat, professional form 4 (you need two copies). Next you need to get a sign-off from your local chief law enforcement officer. Here, that is the sheriff. On the way to his office, stop at somewhere like Sav-On drug and get passport photos taken. Glue two of the passport photos to the back of the form 4 in the spot marked for that purpose. At the sheriff's office you need two sets of fingerprints and his signature. Here where I live, you just drop the paperwork off and they call you to pick it up. When you get the paperwork back, you send it all in, along with a check for $200.
And you wait. And wait. And wait, AND WAIT.
Eventually, you will get back, one of the exact forms you sent to them only it will now have a $200 tax stamp on the upper right hand corner. It looks just like a big postage stamp and is marked for $200. ATF also filled out there little section saying this was all approved. You can now take home your suppressor/machine gun/make your SBR or whatever.