Suppressor approved...gun shop went out of buisness. What to do now?

[BlackAnkleMunitions]

From your quote


Has the physical transfer taken place?

No.

OP's buddy is out of luck guys. The ATF is going to say its a civil matter.

This is all clearly stated in the NFA Handbook.

If the FFL was created as a sole proprietorship, all of the inventory belongs to the owner. The ATF is still required to be notified of the dealer going out of business and will take possession of all of the records as I stated earlier.
If the FFL was created as an entity, all of the inventory MUST be transferred. Again, the ATF is still required to be notified of the dealer going out of business and will take possession of all of the records as I stated earlier.

The rules for an FFL going out of business are clearly stated and are provided to every dealer during the interview. NFA items throw a whole other wrinkle in as whoever is handling the bankruptcy can't simply take possession of the items, they must be transferred. This is the same transfer of a Form 3 per item to another FFL/SOT or a Form 4 per item to an individual or entity ($200 per item). If the buyer calls the NFA branch and checks his serial number, and they list it as approved to him, that tells you no transfers have taken place.

The buyer needs to contact the local ATF office, that is it.

[Renegade]

This is all clearly stated in the NFA Handbook.

If the FFL was created as a sole proprietorship, all of the inventory belongs to the owner. The ATF is still required to be notified of the dealer going out of business and will take possession of all of the records as I stated earlier.
If the FFL was created as an entity, all of the inventory MUST be transferred. Again, the ATF is still required to be notified of the dealer going out of business and will take possession of all of the records as I stated earlier.
.

I do not waste my time with the NFA Handbook as it is riddled with errors. But if this is what it says, that is another error. FFL created with entities do not have to transfer inventory. Inventory stays with entitity. Only things needed to be transferred would be post-sample machine guns. If it says ATF takes all records, that is an error too. Most records the dealer keeps. A&D, 4473 get forwarded.

Keep in mind bankruptcy does not invalidate your FFL. That continues to be valid.

[Iraqgunz]

Notice that it says "may" which gives permission to do so. But, there is still the issue of an approved tax stamp with someone's name on it, and as suppressor which has yet to be accounted for.

From your quote


Has the physical transfer taken place?

No.

OP's buddy is out of luck guys. The ATF is going to say its a civil matter.

[Aaron_B]

Just an update. Buddy is in contact with the local BATF office and local Sherriffs office. I haven't heard anything else as of yet.

To touch base on what has been mentioned so far. The forms were approved well before the shop closed up. Also, currently he has no idea where the suppressor is located. Not sure if the dealer still has in his possession or not, I'm not sure how that works once you close a buisness but I hope for his sake that he has it in some form of possession.

[Eurodriver]

I re-read my posts and I hope I'm not coming off as a negative nancy, I'm just trying to be real.

I sincerely hope your buddy gets his can (best scenario) or some money (good scenario), I just don't see, barring extraordinary circumstances, how the ATF will really be of help here.

Dealers can lose their inventory in "boating accidents", too...

[Renegade]

Dealers can lose their inventory in "boating accidents", too...

Sure can, and they better have filed a 3310.11 within 48 hours of discovery....

[Aaron_B]

No worries man, I told him not to use this dealer anyways. They started out great but after being in buisness for a few months they started getting shitty. I stopped using them long before hand as it just became more of a pain in the ass.

[cbx]

Euro, your such a negative Nancy.....

I'm with you on all of this, try to be positive, but... I have zero knowledge on firearms in bankruptcy, but I know a ton of people that have been aired out on bankruptcies.

The one guys payout is 20 years for $2,000ish. $8 and change a month. No interest.

Talk about getting hosed tommy.

[Eurodriver]

Funny, I thought we were all adults and this forum prides itself on the dissemination of facts.

I guess from now on we just tell people what they want to hear. I mean, Domestique got his suppressor back...oh wait...

[domestique]

Funny, I thought we were all adults and this forum prides itself on the dissemination of facts.

I guess from now on we just tell people what they want to hear. I mean, Domestique got his suppressor back...oh wait...

+1.

I would still be out my entire (1,800) if it wasn't for my credit card company (13 months after purchase refunding my money!) + Garin from Surefire providing me the damning evidence I needed.