[Final Rule] Commerce in Firearms and Ammunition-Reporting Theft or Loss of Firearms in Transit (2007R-9P)

FFL-BRO LawWatch detected a firearms-industry legal update.

• Status: Final Rule
• Jurisdiction: Federal
• Effective date: Not detected
• Comment deadline: Not detected
• Source: View original source

Summary

The Department of Justice is amending the regulations of the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) concerning the statutory reporting requirement for firearms that have been stolen or lost. The final rule specifies that when a Federal firearms licensee (FFL) discovers a firearm it shipped was stolen or lost in transit, the transferor/sender FFL must report the theft or loss to ATF and to the appropriate local authorities within 48 hours of discovery. The rule also reduces an FFL's reporting burden when a theft or loss involves a firearm registered under the National Firearms Act (NFA) and ensures consistent reporting to ATF's NFA Branch. In addition, the rule specifies that transferor/sender FFLs must reflect the theft or loss of a firearm as a disposition entry in their required records not later than 7 days following discovery of the theft or loss; moreover, if an

This update is for general industry awareness only and is not legal advice. Confirm applicability with qualified counsel or the issuing agency.