27 CFR 555.124 Records Maintained by licensed dealers

[Code of Federal Regulations]
[Title 27, Volume 2]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 27CFR555.124]

[Page 191-192]

TITLE 27--ALCOHOL, TOBACCO PRODUCTS AND FIREARMS

CHAPTER II--BUREAU OF ALCOHOL, TOBACCO, FIREARMS, AND EXPLOSIVES,
DEPARTMENT OF JUSTICE

PART 555_COMMERCE IN EXPLOSIVES--Table of Contents

Subpart G_Records and Reports

Sec. 555.124 Records maintained by licensed dealers.

(a) Each licensed dealer shall take true and accurate physical
inventories which will include all explosive materials on hand required
to be accounted for in the records kept under this part. The licensed
dealer shall take a special inventory
(1) At the time of commencing business, which is the effective date
of the license issued upon original qualification under this part;
(2) At the time of changing the location of his premises to another
region;
(3) At the time of discontinuing business; and
(4) At any other time the regional director (compliance) may in
writing require. Each special inventory is to be prepared in duplicate,
the original of which is submitted to the regional director
(compliance), and the duplicate retained by the licensed dealer. If a
special inventory required by paragraphs (a) (1) through (4) of this
section has not been taken during the calendar year, at least one
physical inventory will be taken. However, the record of the yearly
inventory, other than a special inventory required by paragraphs (a) (1)
through (4) of this section, will remain on file for inspection instead
of being sent to the regional director (compliance). (See also Sec.
555.127.)
(b) Each licensed dealer shall, not later than the close of the next
business day following the date of purchase or other acquisition of
explosive materials (except as provided in paragraph (d) of this
section), enter the following information in a separate record:
(1) Date of acquisition.
(2) Name or brand name of manufacturer and name of importer (if
any).
(3) Manufacturer's marks of identification.
(4) Quantity (applicable quantity units, such as pounds of
explosives, number of detonators, number of display fireworks, etc.).
(5) Description (dynamite (dyn), blasting agents (ba), detonators
(det), display fireworks (df), etc.) and size (length and diameter or
diameter only of display fireworks).
(6) Name, address, and license or permit number of the person from
whom the explosive materials are received.
(c) Each licensed dealer shall, not later than the close of the next
business day following the date of use (if the explosives are used by
the dealer) or the date of distribution of any explosive materials to
another licensee or a permittee (except as provided in paragraph (d) of
this section), enter in a separate record the following information:
(1) Date of disposition.
(2) Name or brand name of manufacturer and name of importer (if
any).
(3) Manufacturer's marks of identification.
(4) Quantity (applicable quantity units, such as pounds of
explosives, number of detonators, number of display fireworks, etc.).
(5) Description (dynamite (dyn), blasting agents (ba), detonators
(det), display fireworks (df), etc.) and size (length and diameter or
diameter only of display fireworks).
(6) License or permit number of licensee or permittee to whom the
explosive materials are distributed.
(d) When a commercial record is kept by a licensed dealer showing
the purchase or other acquisition information required for the permanent
record prescribed by paragraph (b) of this section, or showing the
distribution information required for the permanent record prescribed by
paragraph (c) of this section, the licensed dealer acquiring or
distributing the explosive materials may, for a period not exceeding
seven days following the date of acquisition of distribution of the
explosive materials, delay making the required entry into the permanent
record of acquisition or distribution. However, until the required entry
of acquisition or disposition is made in the permanent record, the
commercial record must be (1) kept by the licensed dealer separate from
other commercial documents kept by the licensee, and (2) readily

[[Page 192]]

available for inspection on the licensed premises.
(e) The regional director (compliance) may authorize alternate
records to be maintained by a licensed dealer to record his acquisition
or disposition of explosive materials, when it is shown by the licensed
dealer that alternate records will accurately and readily disclose the
required information. A licensed dealer who proposes to use alternate
records shall submit a letter application to the regional director
(compliance) and shall describe the proposed alternate records and the
need for them. Alternate records are not to be employed by the licensed
dealer until approval is received from the regional director
(compliance).
(f) Each licensed dealer shall maintain separate records of the
sales or other distribution made of explosive materials to nonlicensees
or nonpermittees. These records are maintained as prescribed by Sec.
555.126.

(Approved by the Office of Management and Budget under control number
1512-0373)

[T.D. ATF-87, 46 FR 40384, Aug. 7, 1981, as amended by T.D. ATF-172, 49
FR 14941, Apr. 16, 1984; T.D. ATF-293, 55 FR 3721, Feb. 5, 1990; T.D.
ATF-400, 63 FR 45003, Aug. 24, 1998]