What Needs to be Entered in a Bound Book?
The electronic bound book or paper bound book is the most critical piece of a firearm business’ compliance strategy because it contains detailed records of every firearm that enters or leaves the facility.
Many small FFLs start their business using paper bound books. This is cheaper than an electronic bound book and is also a more simple process when starting out.
Every entry in the book must include several pieces of acquisition information to comply fully with ATF rules and regulations.
- Acquisition Date: What was the date that the firearm was obtained by the FFL?
- Purchaser Information: What is the full name and address of the purchaser? If applicable, the FFL number also needs to be recorded.
- Firearm Data: The ATF requires that you record several pieces of data on the Serial number for tracking and identification purposes – including the manufacturer and model, type of firearm (handgun, rifle, or shotgun) and caliber or gauge.
Your FFL bound book must include the following disposition information:
- Disposition Date: When was the firearm sold or transferred?
- Buyer Information: What is the full name, driver’s license, and address of the acquiror?
- Firearm Details: What is the serial number(s), manufacturer, model, type, caliber/gauge of the firearm being disposed?
- ATF Form 4473 Transaction Number: This links the disposition to the background check and firearms transaction record.
If there are multiple sales, this should also be reported to a government agency and local law enforcement to prevent illegal firearms trafficking and straw purchases. This rule generally applies to sales of two or more firearms within five days.
When Should a FFL Switch to an Electronic Bound Book?
At some point in the growth of a FFL, they should evaluate moving to an electronic bound book.
Moving to electronic bound book record-keeping offers many advantages:
- Improved convenience – electronic bound books store data in a format that can be easily searched and analyzed.
- Improved accuracy – Top FFL compliance software has required fields, error checking and format rules, which insures that data is entered completely and in the correct format.
- Increased efficiency – The best FFL compliance software speeds up the process of recording transactions.
- Better security – data in online FFL compliance software systems is password protected, offering better security than paper-based bound books.
- Reduces the likelihood of violations during ATF inspections – Adhering to ATF compliant business included in our electronic bound book software helps ensure that firearms are sold and transferred responsibly and legally.
The ATF allows for the use of electronic bound books, as long as the FFL meets specific requirements for data retention, backup, and accessibility. In particular, it’s critical that electronic records are regularly backed up and protected against unauthorized access or loss. Top electronic bound book systems such as FastBound conform with the data retention requirements.
Format and Organization Requirements for an Electronic Bound Book
The ATF has specific rules on the format and organization for maintaining your firearm transaction records. The records should be recorded in a clear and accessible format. Whether recording on paper or electronically, there are a few organizational requirements that must be followed:
- Records must be kept in chronological order and organized in a way so that they can be easily reviewed.
- Entries must be legible and permanent, preventing any edits or erasures
- Records must be kept on the licensed premises.
- Records must be readily available for inspection by ATF officials.
Historically, ATF records were kept in a physical, bound notebook. However, given advances in technology, an electronic bound book has become very popular with FFLs of all sized given the ease-of-use and efficiency of electronic bound books. We receommend using an electronic bound book, such as the online bound book software offered by FastBound. Even betterm use a top firearm POS system as integrated with an electonic bound book.