Posts Tagged ‘federal requirements’
Meeting FFL Requirements
You must keep immaculate records and comply with federal requirements. You also will be subject to yearly compliance inspections by the BATFE. If you are asked for records by the Secretary, you must respond immediately or no later than 24 hours after receipt of the request. Also, you must report any firearms thefts or losses to the BATFE and to your local law enforcement agency within 48 hours. The BATFE also allows a licensed collector to acquire, hold or dispose of firearms that are defined a curios and relics but that person cannot engage in the business as a dealer or importer.