What does it mean to have your FFL licence 'surrendered'?

[Ruskiegunlover]

Got an email from a guy I used to use as my ffl transfer. Guy just sent an email to me and a large number of other people he used to do transfers for. Just said he had recently surrendered his licence.....Does that imply trouble, or that he simply decided not to renew it? Something about 'surrendering' a licence just sounds like trouble for him. Am I wrong? I stopped doing transfers through him a long time ago......

[Ruskiegunlover]

I might also say this guy owned several HK full autos, and a full auto Browning .30 caliber belt fed. Nice collection. Also owned several silencers.....Assuming he had to sell those items and transfer them to other licencees before surrendering his licence right?

[Richard Simmons]

Could mean he's decided to get out of the business before his FFL expired or maybe he had some violations. I would think that if he were in violation his FFL would be recinded or pulled and not surrendered. According to the ATF website is you decide to cease oeprations you have to surrender all of your records to the Out of Busiiness Records Center. Some NFA dealer samples can be retained depending on when they were manufactureed/acquired. He could probably keep supressors and any transferable NFA items.

[1 Patriot-of-many]

Like RS said, basically it means all his records(the ones the ATF didn't already illegally copy) are sitting at their offices being copied right now.

[Ruskiegunlover]

Wait......so he can keep his full auto's? I always thought he'd have to get rid of them.....

[Schuetzenman]

Got an email from a guy I used to use as my ffl transfer. Guy just sent an email to me and a large number of other people he used to do transfers for. Just said he had recently surrendered his licence.....Does that imply trouble, or that he simply decided not to renew it? Something about 'surrendering' a licence just sounds like trouble for him. Am I wrong? I stopped doing transfers through him a long time ago......

It means he sent his license and his bound books into BATFE and is out of the business. It does not mean he is in trouble, just that he isn't a dealer anymore. Sometimes if BATFE catchs a violation they give the Dealer 2 options, go to court and spend a fortunte or just hand it over and your recoreds and walk with no charges. You want to know specifics, ask your former dealer for them. The rest is hot air and speculation.

[Schuetzenman]

Wait......so he can keep his full auto's? I always thought he'd have to get rid of them.....

Depends on IF they were pre May 1986 dealer samples or just transferables on form 4's, the kind you are I could own. A class III machine gun dealer can keep pre May 86 dealer samples but post May 86 he'd either have to sell to another dealer before he gave up the license or destroy them in accoradance with BATFE guide lines.

[Ruskiegunlover]

He's a very nice guy, pretty wealthy too, so this wasn't anymore REALLY than a hobby for him. Yeah, he had a business....But a huge part was just the fun. He didn't NEED the money......He was painfully slow on transfers, which is why I stopped using him. But, he is a damned nice guy. I sent him an email, so we'll see.