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Form 4 transfer questions


Snubbyguy

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I am in the process of selling a full auto NFA firearm to a class 07 FFL with Class 2 SOT not in my state. 
1) At what point do I collect funds? I assume before paperwork is submitted but not sure. He mentioned after paperwork was approved. 
2) I’m thinking it is his responsibility to initiate the form 4 with picture, information, et.Al. And then sends to me for signature then I send it in and the wait begins. 
3) upon approval, I can just send to him directly? I am not an FFL. 
Any help you all can give me is much appreciated. Thank you 

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1. you are the seller so you can dictate the terms of the sale, subject to agreement.

 People commonly do one of 2 options:

a.  50/50 - you get 50% up front, then the other 50% when the paperwork clears and prior to shipment

b.  you get 100% up front.

(personally as a seller, I would not agree to nothing down, unless perhaps a +very+ trusted buyer that you have done business with before.)

 

2.  You can do all the paperwork yourself, since it is a Form 4 to dealer/SOT.  You fill out page 1 of the form 4, and mail it in (2 copies) with a check for $200.  Ask the buyer if you need any more assistance with the paperwork, but it's pretty basic.  No need for the responsible person questions/prints/photos since buyer is a dealer.  Expect 6+ months for approval.

 

3.  once the Form 4 is approved, I believe you can mail it directly to the out of state dealer.  Someone else will correct me if I am wrong.  I recommend USPS Registered/Insured for the most secure method.

 

good luck!

Edited by shiklg
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#1 - All good advice from shiklg.

It would be <very> atypical to not get paid anything until you have an approved F4 to the dealer...

  

#2 - I'm surprised a dealer wouldn't provide a completed F4

If you need to make one, this should help generate a correct form  https://eform4.silencershop.com/

As shiklg said, all you need to complete is the first page (in duplicate) with $200

Paper F4s to dealers are taking a VERY LONG TIME 6-9 months right now...

 

3) Without an FFL, you may find it simpler for the dealer to provide you a shipping label if your MG does not comply with USPS shipping regulations. 

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FYI: On item 2: The FFL doesn't need to provide photos since it is going into his business. Also he doesn't need to provide police information,etc.  It is a page 1 fill out, and page 3 for payment.

Wait is faster than a standard Form 4 but the wait time I dealt with was 6-8 months.. but that was a couple of year ago.

I haven't checked, but could you just do a eForm 4?

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