It is a direct transfer from one owner to the new owner once Form 4 is approved. The current owner fills out the transferor info on Form 4, you fill out the Tranfsferee info and include $200. Mail to ATF. No need for a dealer but original owner has to hold on to the can until the Form 4 is approved. Original owner receives approved Form 4 and contacts you to give you the can and approved Form 4. The original owner can’t cheat you because they would be in violation because the approved Form 4 no longer entitles them to ownership. No 4473 needed because the background check is complete.
How do I know? Because I sold one of mine to a friend and everything was approved. No FFL, no SOT/ClassIII. Just do the transfer above board and legally. The biggest hassle is being patient.
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