Not quite
the seller must ship to the address on the license only.
Actually, per the latest ATF newsletter (March 2006 - they don't publish often), that's not correct. Here's the link:
http://www.atf.treas.gov/firearms/newsletter/0306fflnewsletter.pdf. Page 8 says, in response to a question:
Q. Can an FFL ship a firearm to an address that is different from the business premises address identified on the license?
Yes. Neither the GCA nor its implementing regulations contain specific provisions, requiring that an FFL have firearms shipped to their licensed business premises when receiving firearms. To that end, an FFL may lawfully receive firearms at their mailing address, storage location, or other address where the licensee intends to ensure safe and secure receipt of the firearms.
ATF Industry Circular 74-13 outlines “Guidelines for Verifying Identity and Licensed Status of Transferee.” It states, in part, that “when the shipment is to be made to an address other than the transferee’s premises as listed on his or her license or on his or her certified list, it is suggested that the transferor verify the address as being that of the transferee.” Furthermore, pursuant to section 922 (b) of the GCA, it is unlawful to ship a firearm interstate to an unlicensed individual.
We encourage that FFLs verify to the best of their ability that the shipping address is a valid location where the licensee is prepared to receive and subsequently possess the firearms. In addition, if an FFL has customers that require frequent delivery of firearms to an address other than their licensed business premises, we recommend that the shipping address be placed on file with ATF’s Federal Firearms Licensing Center (FFLC) as an additional mailing address.
It should be noted that any FFL receiving firearms at locations other than their licensed premises must maintain accurate records of acquisition and disposition of firearms. The acquisition of firearms must be recorded by the close of the following business day or, if commercial records are maintained, within 7 days following the acquisition (See 27 CFR 478.125(e) and (g)). In the event of an ATF compliance inspection, the FFL must make all records and firearms inventory available for inspection. In addition, if the location is used as a continuous off-site storage facility, the FFL must notify the FFLC so that the address can be placed on file.
