Licensees must keep each ATF Form 4473 for which a NICS check has been initiated, regardless of whether the firearm was transferred.
When a firearms transfer occurs, Licensees shall retain each Form 4473 until the business or licensed activity is discontinued, either on paper, or in an electronic alternate method approved by the Director, at the business premises readily accessible for inspection under this part.
If a firearms transfer is not made, the FFL must also retain each Form 4473 until business or licensed activity is discontinued. Forms 4473 for transfers that did not take place must be maintained separately from forms where a transfer occurred, either on paper, or in an electronic alternate method approved by the Director, at the business premises readily accessible for inspection under this part.
An ATF 4473 is subject to retention by the FFL at the time when the transferee personally places the transferee’s/buyer’s name on that form as the intended transferee/buyer of the firearms identified in Section A.