At the Firearms Industry Compliance Conference (FICC) held last week, the ATF detailed three new Industry Rulings. These changes will affect your Acquisition and Disposition recordkeeping and make electronic A&D recordkeeping rules clear.
ATF Rul. 2016-1 sets out requirements for your electronic ATF bound book. Electronic tracking of acquisition and disposition makes business sense because it saves time and money in bookkeeping and auditing expenses. Now, the ATF updated rules for these electronic ATF records. Included in this ruling is the ability to use cloud-based technology and leased servers for your A&D software and records.
ATF Rul. 2016-2 authorizes electronic submittal of ATF Form 4473 including electronic signatures provided that the licensee meets 22 specific requirements.
ATF Rul. 2016-3 clarifies when and how the ATF A&D book documentation should be made. This ruling allows licensed manufacturers to consolidate their records of manufacture or other acquisition of firearms and their separate firearms disposition records if they meet the conditions in the ruling.
BASM’s electronic ATF bound book software, Easy Bound Book™ can help you adjust to these changes. We follow changes in ATF regulations closely and ensure that our A&D software meets these strict requirements.