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Old November 4, 2018, 07:38 PM   #1
MarkGlazer
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Document Retention

How long do you retain your purchase records (original invoice, applications, etc.) after you sell a firearm? The finance guy in me says 7 years (IRS protocol). Your thoughts are appreciated.

Thanks.
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Old November 4, 2018, 07:45 PM   #2
Sharkbite
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I have an Excel spreadsheet that i keep records on. I dont keep hard copies (too much moving in my life)
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Old November 5, 2018, 05:42 AM   #3
TJB101
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Photo with phone that syncs all images to the ‘cloud’. I can access from anywhere, when needed, in case of theft or fire.
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Old November 5, 2018, 10:38 AM   #4
FrankenMauser
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Forever.
A piece of paper takes up very little space.
Since I don't sell dozens per year, the storage requirements are minimal. My firearms purchase and sales records take up less space than vehicle titles.
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Old November 5, 2018, 11:05 AM   #5
44 AMP
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we're supposed to keep those????
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Old November 5, 2018, 11:31 AM   #6
Pops1085
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I do now, I actually had a 22 that I owned show up in a crime about a year ago and I luckily had the phone number of the guy who I sold it to. It wasn't him, he also sold it and I don't know how many hands it traded since then. I was the original owner so it was still in my name. Don't ask me how any of that works, I'm not sure. I definitely didn't register it, but they must've had records of it from the gunstore or something.
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Old November 5, 2018, 11:36 AM   #7
FrankenMauser
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Pops, the 4473 used to transfer the firearm must be kept by the FFL (for at least 20 years).
When LEOs need to trace something that's 'unregistered', they go back to the beginning and follow the firearm as far as they can.
Manufacturer -> Distributor -> Dealer -> Buyer -> Then any leads they have beyond the initial buyer.
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Old November 5, 2018, 11:41 AM   #8
Brian Pfleuger
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I'm not much of a record keeper. I don't consider guns to be any different that washing machines or table saws. The manual goes in a file, the receipt goes in a file... usually organized by no more than year and then I don't think about them again until who knows when I run across them and think, "Damn, I bought that 14 years ago? I guess I don't need that file anymore..."

Truthfully though, most of my files are at most 7 years old because when I file this years I almost always see the oldest ones and throw them out. Once in a while I think I should keep something, so I do, but it's not "Ooh! That's a gun! Keep the receipt!", it just seems pertinent for whatever reason.

Thread Hijack.... You ever wonder about the politicians who release 30+ years of tax returns? That doesn't impress me... it worries me. I'm like, "... Why the hell.... what?... why do you even HAVE 30 year old tax returns?!
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Old November 5, 2018, 01:46 PM   #9
lee n. field
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Quote:
Originally Posted by MarkGlazer View Post
How long do you retain your purchase records (original invoice, applications, etc.) after you sell a firearm? The finance guy in me says 7 years (IRS protocol). Your thoughts are appreciated.

Thanks.
This state requires that we keep seller in formation for 10 years.

I scan the documents to a file on my computer. I keep it well backed up.
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Old November 5, 2018, 03:05 PM   #10
reinert
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As I wanted one for a long time, and went back and forth on the decision to purchase, I finally bought a S&W Victory .22 last week. Great pistol, great fun! I hadn't purchased a firearm for a while, and as I went through the procedure to purchase, I was surprised to see that everything was done on computer there, including me filling out the 4473 form (on a little notebook type computer screen gadget).

The store folks told me that this computer business as I was experiencing had just been put in place at their store for just a couple of weeks since, so they were new to the "new procedure" themselves. There were 3 guys helping me to buy the pistol, and were asking each other questions to make sure they were getting it right (good guys, all). When I finally got the computer form filled out, and they verified my driver's license info to proceed, they put in the call through the computer for my NICS check. I waited a while, and then they told me I was delayed. I said, "ok, I'll check with you next week," and left. Three days later, I got a call from the store in the evening, and they said come on in and get your pistol, you're clear to proceed. I went in the next day to get the pistol, and there was a bunch more paper work they had to go over, and for me to sign and date (again, those guys were great to work with), and after I paid for the pistol, I walked out the door with my new Victory! Quite the experience, and seemed like a bit of a "Victory" to secure the gun. BTW, I purchased the pistol from the local "Sportsman's Warehouse." They cut me a deal I couldn't refuse.

What a difference from just a couple of years ago! Fill out the form, they'd make a phone call, and you'd get a proceed or delay in just a couple of minutes. I've been delayed before, and I've had the proceed at the counter and out the door right away, and always filling out the form with a pen.

I was told A LONG TIME ago, that an FFL person had to save the 4473 forms for 20 years, and then they could get chucked. If everything goes now as what I've gone through to buy a new firearm through a franchise type store, that computer/internet 4473 will certainly be saved (IMO) "forever."
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Old November 5, 2018, 09:17 PM   #11
peterg7
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I only keep receipts and records because my memory ain’t what it used to be, no real legal need.


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Old November 6, 2018, 05:20 PM   #12
unclejack37
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What 44AMP said
Quote:
we're supposed to keep those????
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Old November 6, 2018, 07:24 PM   #13
Ruga Booga
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I don't keep records. There are dozens of firearms floating out their registered in my name. Not worried
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Old November 6, 2018, 10:12 PM   #14
Mike38
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10 years, Illinois state law says:

430 ILCS 65/3

…..

(b) Any person within this state who transfers or causes to be transferred any firearm shall keep a record of such transfer for a period of 10 years from the date of the transfer. …..
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Old November 7, 2018, 09:21 PM   #15
Mannlicher
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No requirment for that in FL
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Old November 7, 2018, 10:39 PM   #16
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I keep a record of every firearm that I have bought or sold since 1975 in a multi pocket folder. The front pocket holds the paperwork for my current guns. If a gun is sold, I staple the bill of sale to the original purchase receipt and move it to the "archive" pockets. I'm in the process of backing up the information on an Excel spreadsheet. If I ever get really motivated, I'll scan copies of all the paper documents, but I don't know when I'll find time to do that. Maybe when I retire.
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