For the FFLs

[ikky68]

Hi All. I was considering getting my FFL.

I was wondering what were your (personal) factors that contributed to taking the steps. I may need some insight in case the wife questions my decision.

 

[Titanium Man]

Depends on what reasons you are doing it for. If you think you're going to save a few bucks getting in your own stash of guns, forget about it. If you truly want to make money, and you are ready to open up your entire life to ATF agents, go right ahead.

 

[96harley]

They require several things prior to issue. You must submit a photo of your storefront. In addition they will want to inspect you wo see what type of security you have. They will check to see that you are not in violation of any zoning laws. You have to sell guns, not just aquire them. Lot of red tape nowadays.

 

[Scutter01]

Start HERE.

Original thread that spawned the FAQ entry:
https://www.indianagunowners.com/forums/general_firearms_discussion/141476-ffl.html

 

[Titanium Man]

Great Info.

 

[westfork]

They require several things prior to issue. You must submit a photo of your storefront. In addition they will want to inspect you wo see what type of security you have. They will check to see that you are not in violation of any zoning laws. You have to sell guns, not just aquire them. Lot of red tape nowadays.

I had an 07 FFL from my home and was never required to submit photos of anything but my ugly face. The ATF representative sat at my dining room table and interviewed me. They did check on the zoning, which was not an issue where I was. They didn't care about security systems, that's more between you and your insurance company. The ATF red tape was minimal compared to what most prospective FFL's are up against in zoning-happy jurisdictions.

If you want to get anywhere with your FFL you need lots of time and tons of start up capital. I can honestly say it isn't a 'hobby' kind of thing. You are going to have to run a legitimate business on top of keeping up with all the requirements of performing firearms sales transactions. None of this is impossible, but it is also not just a day at the park.

Disclaimer: This was in 2009, in Greene county, and I am not a lawyer.

Hope this helps.

 

[Aszerigan]

If you want to get anywhere with your FFL you need lots of time and tons of start up capital. I can honestly say it isn't a 'hobby' kind of thing. You are going to have to run a legitimate business on top of keeping up with all the requirements of performing firearms sales transactions. None of this is impossible, but it is also not just a day at the park.

Westfork has several valid points, although you don't need lots of time or any capital to get an FFL. Many people think that getting an FFL is a long and hard process. Aside from taking photos of your 'business location' and having a face-to-face with the BATFE, it's really no more difficult than applying for your License to Carry in Indiana.

Most FFL's will try to get you paranoid about the inspections and bookkeeping. The truth is that as long as you're VERY meticulous about your record keeping, you're in the clear. Any FFL is required to keep the 4473 forms for 20 years. Consider that. Also, any premises that is licensed (by address) on your FFL01 is subject to search by the BATFE. If you work from home, then your entire house is subject to search. Consider this also.

When you have your meeting with the agent from the ATF in your place of business (home, office, gun shop), they're going to want to inspect your premises and make sure that you're not endangering anyone. You're also required to have secure storage of all firearms, so if you don't have a gun safe or two, don't even consider it. They will come by from time to time and inspect your paperwork, so you'll need to organize it at the end of every day. You're also required to keep records in an A&D book. I run mine in Excel, so it's really not difficult.

As of 2009, there were 2200+ FFL's in the state of Indiana - according to the BATFE. Every one of those is required to make an income and pay taxes from their license. Although you can receive, log, and transfer weapons to your 'personal collection,' you're still required to earn an income from the license, otherwise they won't renew it.

In short, getting an FFL isn't a big deal. Keeping it is. Make sure you're doing it for the right reasons. If you can't balance a checkbook, you can't balance the 4473 process. If you're considering it, do it. But make sure you're making taxable income, can keep records, and don't have a problem with random inspections. Otherwise, the government will drop the ban hammer on you. The fines associated with an FFL who doesn't follow the rules will impact you for the rest of your life. Believe it.

 

[hetfield1]

You are not required to have a safe!

 

[ikky68]

Much thanks for the insightful input.