This is the 2nd half of the Video on how to properly complete your 4473's for Firearms sales, as well as much needed information such as Brady Law, Delays, Denials, Proceeds, Filing, Audits, Supplimental Paperwork, etc.
Hey guys, sorry but I have one correction to make on this video. I stated that you have until the close of business the day after the sale to record in your A&D book the disposition of any sold firearm. Actually you have 7 days to record the disposition from the date of the sale. Its until the close of business the following day to record the Aquisition of the firearm. Sorry got my A&D confused.
To clarify a question. I stated that your 4473 is not complete until you check box 27E if you conducted a Brady Transfer, which is true, technically it is complete, yet incomplete if that makes sense, since you transferred the firearm. In the eyes of NICS, it is still a delay, which you can keep in your delay folder. BUT, after 88 days, NICS will purge its system and your check (if your still waiting for a response) will be gone. At this point, you have done your due diligence and you can file the 4473 with your completed transactions. However, conflicting statements from NICS (saying that the 4473 must stay with your delays while the check is still in the system) and the ATF, saying that in a sense the transaction is complete and can be filed with your complete 4473s since you did a Brady and transferred it, makes me hesitant. I think that the form should stay in your delays until you get a response, but if the 88 days elapses and the check gets purged, then you should file it under your completed 4473s after that. MAKE SURE, you note this in Section 32 on the 4473 saying that you did this and why. At this point you are Clearly showing that you did your Due Diligence.
