To own or operate a firearms business, you need to have a federal firearms license (FFL). This license allows you to manufacture and sell firearms in the United States. In order to obtain one, you will need to fill out an application with all of the required information and provide a photograph and fingerprints. The application process can be time-consuming and may include several forms, so make sure you are prepared.
Once you have your FFL, you can start selling or buying handguns. A FFL is necessary to make a profit. You must show that you are running a business, as the ATF will not grant you an FFL if you only wish to keep your collection.
If you are interested in selling firearms for profit, you can get an FFL from the BATFE. The BATFE will issue you an FFL after it has performed background checks, checked your fingerprints, and approved your application. It may take up to 60 days to process your application.
You must follow all laws concerning the sale of firearms. You must also adhere to the ATF’s rules when it comes to licensing and business. The ATF will take action if you violate federal laws. You can lose your business, get fined, or lose your firearms if you violate the law.
After you complete your application, you must meet with a Responsible Person. The ATF defines a Responsible Person as anyone who has the legal authority to supervise firearms-related activities. This includes corporate officials, shareholders, and board members. In addition, it includes employees with legal authority.
You will need to pay a fee to obtain your federal firearms license. A typical license costs $150 and has a three-year validity. You will also need to pay a fee for renewal every three years. A Type 7 FFL will cost you $150 and will have a three-year validity.
To obtain an FFL, you must meet the requirements set out by the federal Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF). If you want to sell guns, you must obtain an FFL from the Bureau. You must also be in possession of a valid state permit to sell firearms.
A Type 7 FFL is required if you plan to sell or manufacture firearms. This license is also called a SOT license. If you want to manufacture firearms, you must have a Type 7 FFL or a Type 7 license. The ATF considers assembly of parts as manufacturing. The ATF defines a “destructive device” as anything with a bore diameter greater than a half-inch.
Your FFL number is a 15-character string that contains information about your license. A sample FFL designation is 5-06-014-06-02142.