Full auto toys

[Boris-Bad-N-Off]

If you give up your Class 3 License, and are allowed to keep your Dealer Samples that are pre1986, what is required to show that you legally possess them, so you you do not get arrested by the locals, whom do not have a clue about the right to possess NFA toys?

Thanks for any guidance.

Boris

 

[Swing]

The ATF has some details here.

 

[Arizona_Mike]

That link does not answer the question. I assume you just keep whatever paperwork you had when your licence was active.

Mike

 

[Sarge]

Yep the registration forms you got for the guns as a dealer are all that you need.
If you want to take them out of state you must do a 5320 just like for private owned guns.
IF you decide to sell them they must got to a Class 3 dealer, never to an individual.
Sarge

 

[medalguy]

Well, since there's no such thing as a "Class 3 license" are you referring to your FFL? And what name were the guns registered in? If they were registered in your own name, and not the name of a company, corporation, or LLC, then you can retain them with the paperwork under your own name. There's a caveat here however: The dealer sample can be retained by the owner if he gives up his FFL/SOT, but it can only ever be transferred to another FFL/SOT dealer, never to an individual.

 

[Sarge]

Well, since you seem so inclined - Lets nit pick a little!
The so called SOT = Special Occupation Taxpayer is quite often/commonly referred to as a "Class 3 Lisc" Even by the batfe!
Yep I left out the part about a trade name on the lisc.
The rest of yours is a repeat of what I said, but you worded it a bit differently!
How long have you been a Class 3 (SOT) dealer?
Sarge

 

[medalguy]

Sarge 13 if you're asking me, I was first licensed as dealer in 1964 and as an SOT in 1972.

And yes your reply was accurate as far as it went, but I think it does make a bit of difference as to the name the guns are registered in: personal name, LLC, or corporation. The OP didn't specify that little bit of information. Unless his license was in his personal name, there will be a Form 4 transfer required.

 

[Sarge]

I've got you beat by a mile.
I got my FFL in about 1958. I became a "Class 3" in 1963. IF I remember the dates right.
In those days there was no such thing as a LLC - that I ever heard of. My lisc were originally to a business/company/trade name. I later dropped that and went to just my name, which is the way it has been for 35+ yrs.
Sarge

 

[lilguy]

I worked with a gentleman that sold new machine guns on the side. He kept several in his vehicle at times to demo. I never fully understood how that worked
but he was matter of fact about it. This was 20+ years ago and I never learned a lot about the process. He was not dealing old collectables.

 

[Boris-Bad-N-Off]

Medalguy,

I have 26 years of Department of the Treasury Tax Stamps that say: "SPECIAL TAX STAMP AND RECEIPT FOR 'CLASS 3 DEALER IN FIRE ARMS.'"

Would you please explain to the Department of the Treasury that there is no such a thing as a "Class 3 License" so I can get my money back for paying for a nonexistent license.

 

[medalguy]

Funny, mine all say United States Internal Revenue - National Firearms Act. I've never seen a stamp with text like yours. Can you post an image?

 

[coolluke01]

Once you drop your SOT you have to give up your *post 86* dealer samples. There are a few "keepers" out there that are post 86 dealer samples.

I have a converted Glock 17C and a M16 as a pre86 dealer sample and would have to give it up or sell it if I dropped my SOT.

 

[coolluke01]

The SOT is a tax, it's a class 3 tax. That is the type of tax class and has nothing to do with the SOT. It's really a improper term.

 

[Sarge]

"Once you drop your SOT you have to give up your pre86 dealer samples. There are a few "keepers" out there that are post 86 dealer samples"


You have that backwards! The Pre 86s you can keep, but the Post 86s you must sell. In the case of the Pres' if you later decide to sell they can only be sold to a class 3 dealer.
Sarge

 

[coolluke01]

Lol. I did screw that up. Meant post 86.