Transfer question

[kevhunt80]

I have a suppressor I'd like to sell. (Huntertown Arms 9mm)  My question is how do we do the transfer of the suppressor once I have a deal with someone?  Do I hold it until the stamp comes back or do I use a 3rd party?  Is there a SOP? Edited March 12, 2016 by JohnC
Moved from classifieds since it was a question and not a sell item.

[LawEnforcementSalesTN]

YOU, as the Transferor (current owner) retains the item in your possession until you receive an approved form to transfer... this is regardless of where it is going to or even who will be receiving it.. the who could be an individual, a dealer (in state or out), or a government agency.  The approved form will come back to you.  At that point you can make arrangements for the new buyer to collect the item.

 

Suppressors owned by non dealers are "normally" sold to an instate buyer.  Because you are NOT a dealer, the item will have to transfer out on a tax paid ($200) form 4.  If you find an in-state buyer, it's just 1 stamp and you/he can negotiate who is responsible for that.  Normally suppressors the buyer will pay but there is no set requirement.  It's between the two of you to negotiate.

 

You can also sell it to ANY FFL holder in-state or out, even if they do not have a SOT license.  Any dealer in-state or not, SOT holder or not can receive the item from you AFTER a Form 4 has been submitted, approved and you have the approved form back in your hands.

 

Since you are not a dealer WHOEVER receives the item there will have to be a tax paid UNLESS you sell/give it to a government agency.  An agency (Police, Sheriff's Office, Military, etc.) can receive the item on what's called a Form 5, which is very similar to a Form 4 but there would be NO tax requirement necessary so it would transfer to the agency tax free - but even then you'd still wait on the approved Form 5 to come back before they could take the item from you.

 

If you have a buyer give me a little more info on where they are/who they are and I'll be sure the specific process is explained but the skinny is KEEP the item until you get an APPROVED form mailed back to you directly. 

 

Hope this helps

[kevhunt80]

That's huge help.  Thank you.  I assumed that was the case, but as a non-dealer I wanted to make sure I was following the law.  I can see the person who would buy it from me being leary about me (a private individual) holding their item until I get the tax form but after taking their money.  

[Jct1911]

That's huge help. Thank you. I assumed that was the case, but as a non-dealer I wanted to make sure I was following the law. I can see the person who would buy it from me being leary about me (a private individual) holding their item until I get the tax form but after taking their money.

Lots of people do the 50/50 funds to keep things on an even keel. Buyer gives you 50% before and 50% when stamp arrives and item is getting picked up.