Can someone give me a little insight. Going to be in Indy for the Gun show and looking to sell a Fostech Orgin 12. I know it need to go through a Class 3 dealer, but what do I receive showing it out of my name?
I am not a lawyer, but the sale of NFA items are a lot different than normal firearms. Since you are not a FFL, and you are alive, the only way that the SBS can be transferred out of your possession is through a Form 4. This means if you sell to a NFA dealer, you will have to pay the $200 for the tax stamp to transfer it, and wait for 6 to 12 months to have the ATF approve the Form 4 before it leaves your possession. You can also sell person to person using the same Form 4 process, but you would have to find a buyer within Indiana who doesnt mind you holding on to the SBS until the Form 4 clears and the stamp comes back. These headaches are the reason that not many people resell NFA items. Dealer to dealer transfers are easy, but once it goes to a non SOT, you have to start paying $200 per transfer and waiting for the Form 4. Sometimes you can also convert a NFA item to non NFA and sell it (like converting a SBR to a rifle with 16" barrel), but I'm not sure if you can do that with your Fostech. Again, I am not a lawyer, but I dont think you will ever have much luck selling a used silencer, SBR, or SBS. For machine guns, people are willing to jump through these hoops since there is no option to buy new or to build yourself on a Form 1.