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Old December 4, 2008, 07:42 PM   #14
saands
Senior Member
 
Join Date: November 14, 1999
Posts: 1,564
Quote:
If you let your C&R go you can destroy your books and start all over with a new license number. That's what I'm in the process of doing now.
Better check that one carefully ... I'm 99.99% certain that when you let your license expire, you are on the hook to maintain those records for 20 years. I read it carefully a few years back and while my memory isn't perfect, I think I have this one straight.

Saands

edit: I found the reference: it is 27 CFR section 478.129 and it says:
Quote:
(e) Records of dealers and collectors under the Act. The records prepared by licensed dealers and licensed collectors under the Act of the sale or other disposition of firearms and the corresponding record of receipt of such firearms shall be retained through December 15, 1988, after which records of transactions over 20 years of age may be discarded.

Last edited by saands; December 4, 2008 at 07:49 PM. Reason: Added citation ...
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