This article is written for FFL and FFL/SOT Dealers regarding ATF Compliance and Dealer Inspections.
At the heart of every single FFL, there is the ATF, ensuring dealers’ compliance with federal and state laws and regulations. And because it’s not a question of if, but rather when ATF inspections will happen to you, it’s important to be as organized and prepared as possible.
While it’s not the most glamorous side of owning an FFL, ATF compliance is crucial to running a business in the firearms industry. In order for FFL dealers across the nation to allow citizens to exercise their second amendment rights, it is imperative that FFL dealers abide by rules and regulations set both locally and nationally.
One of the ingredients to Silencer Shop’s secret sauce is our use of industry leader, Orchid Advisors. In addition to our own incredibly tight compliance practices, Orchid Advisors provides one more layer of ATF audit readiness. By using code “silencershop” at Orchid*, FFL dealers are now eligible to receive an exclusive 90-day free trial of Orchid’s software system known as Orchid eBoundTM. The services include access to Orchid’s integrated eBound Book to keep you compliant with state regulations and Orchid’s Firearms Compliance UniversityTM. The university has over 100 modules of compliance education courses for you and your team.
Read below for background, benefits, and how your business can capitalize on Orchid’s technology solutions.
ATF Requirements and Background
It’s important to know the facts that encompass an ATF inspection, and what is expected. This section will be providing a scope of what is required during ATF visits.
The Gun Control Act of 1968 (“GCA) requires an inventory log, commonly known as a Bound Book, to keep record of all firearm acquisitions and dispositions. The record includes specific firearm identifying characteristics, like the manufacturer, importer, model, caliber/gauge and serial number of the firearm. Since 2008, ATF has, via Rulings, given industry approval to use an electronic version of a Bound Book, provided the software used meets certain minimum requirements. And, beginning with ATF ruling 2016-1, approved the use of cloud-based Bound Book technology.
Retailers are also required to conduct NICS background checks, completing ATF Form 4473s, and NFA forms, if applicable. All of this paperwork adds up to a cumbersome amount of documents that need to be maintained for many years and retained in specific regulated formats that are validated during ATF Compliance Inspections.
The Benefits of Using of Orchid Advisors
Everyone who has had to deal with a paper Bound Book knows how exhausting it can be. Similar to ditching your checkbook for online banking, digitally managing your FFL’s day to day operations allows for more efficient processes that drive the overall compliance health of your business. Orchid Advisors set out to make compliance simpler.
Orchid’s eBound Book and e4473 exceeds the standards for use by ATF when managing your firearm inventory and regulated paperwork. The software is a fully integrated solution, written and backed by the leading compliance experts in the firearms industry. Coupled with resources such as Orchid SNITTM (Serial Number Inventory Tool) and most importantly access to mock inspections by recognized industry compliance experts, Orchid Advisors provides you with one stop shopping to help you prepare for the next time ATF arrives unannounced to store.
By using Orchid Advisors, you’re saving on time, resources, and lost sleep because:
Orchid Advisors software-driven compliance solutions provide you with the guardrails needed to improve your paperwork accuracy and significantly reduce the risk of a poor result from ATF inspections.
To cut time and money, Orchid Advisors also provides integration capability between the eBound Book, e4473, and your Point-of-Sale system.
Working with the Orchid eBound Book and e4473 software, not only provides best-in-class technology but also provides you with access to services from Orchid Advisors and its partner firm, FFL Law, granting you access to expert firearm law and compliance services.
Why Use Orchid Advisors for ATF Compliance Software?
Silencer Shop chose Orchid Advisors as their exclusive eBound / e4473 software and ATF compliance partner for peace of mind leading up to, during, and after ATF inspections. After years of partnership, Silencer Shop is giving FFLs and FFL/SOTs a look under the hood in how we manage compliance requirements with ease. Because of the strides Orchid Advisors has made in the firearm industry, and their revolutionary techniques and resources, these programs have been widely accepted by a wide array of firearm industry members, large and small, manufacturers, distributors and retailers alike.
If you are an FFL owner, don’t wait any longer to streamline your business operations, mitigate your compliance risk and take advantage of the vast database of technology resources.