§ 478.127 Discontinuance of business.

Where a licensed business is discontinued and succeeded by a new licensee, the records prescribed by this subpart shall appropriately reflect such facts and shall be delivered to the successor. Where discontinuance of the business is absolute, the records shall be delivered within 30 days following the business discontinuance to the ATF Out-of-Business Records Center, 244 Needy Road, Martinsburg, West Virginia 25405, or to any ATF office in the division in which the business was located: Provided, however, Where State law or local ordinance requires the delivery of records to other responsible authority, the Chief, Federal Firearms Licensing Center may arrange for the delivery of the records required by this subpart to such authority: Provided further, That where a licensed business is discontinued and succeeded by a new licensee, the records may be delivered within 30 days following the business discontinuance to the ATF Out-of-Business Records Center or to any ATF office in the division in which the business was located.

  1. a.(a) When a licensed business is discontinued but is succeeded by a new licensee, the records prescribed by this subpart must appropriately reflect these facts and be delivered to the successor. The successor licensee may retain them or deliver them within 30 days following the date the business was discontinued, to one of the locations described in paragraph (b) of this section.

  2. b.(b) When a licensed business is discontinued with no successor licensee, the records must be delivered within 30 days after the date the business is discontinued to the ATF Out-of-Business Records Center; 244 Needy Road; Martinsburg, West Virginia 25405, or to any ATF office in the area in which the business was located. However, if state law or local ordinance requires the licensee to deliver records to another responsible authority, the Chief, Federal Firearms Licensing Center, may permit records required by this subpart to be delivered to such authority.

  3. c.(c) ATF will retain records delivered to and maintained at its Out-of-Business Records Center for no longer than 20 [or 30] years from the date they receive the records.

  4. d.(d) The retention periods in paragraph (c) of this section do not apply to importer and manufacturer acquisition records, which ATF retains indefinitely.