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if owner and paperwork is present (or copy),
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This point has been argued to death before, but, per BATF regulations, it is not necessary to have the paperwork with you when you are shooting your NFA weapon. It is also not required to show your paperwork to any LEO other than an ATF or IRS agent since it is a tax document.
Now, having said that, it is highly recommended to have your paperwork with you, because there are an awful lot of anal sphincters out there who really don't know the law and tend to abuse their power and make your life miserable.