If by "Class 3 license" you mean a non-FFL/SOT having a registered NFA weapon, the answer is no. The forms for a non-FFL/SOT individual to transfer/possess/manufacture an NFA weapon are an application and a tax filing. By filing the tax and making the application you do not give up any rights you would otherwise have. BATFE or any other LEA can demand to see the paperwork, but they cannot enter your home without a proper warrant. That said, if there's something amiss in either their records (the NFRTR) or with your paperwork, they'll be able to get that warrant ASAP.
If by "Class 3 license" you mean a licensed dealer or manufacturer of NFA weapons, the answer is yes, as it would be with the business premises and inventory of any FFL.
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