What is the importance of class 3 FFL?

According to the gun control act passed in 1968, the manufacturing and sale of firearms requires a person to possess a Federal Firearms License to own a firearm. Not only this, even dealers of firearms have to apply for a license called Class 3 FFL.

The national firearms act passed in 1934 classifies FFL into three categories, namely
- Class 1 license – for importers of firearms
- Class 2 – for manufacturers of firearms and
- Class 3 license – for dealers of firearms

As a rule, the class three FFL is given to an individual who wants to start a firearms business. It is not given to those who simply want to add to their personal collection of guns.
Obtaining a class 3 FFL can be a little tricky if you do not understand the procedure involved. There is great responsibility involved in owning a Class 3 License for firearms. This license enables you to buy substantial quantity of firearms at low price. However, misuse of this license can get you into serious trouble with the federal authorities. Moreover, you have to prove at the time of surveys that you have obtained the license for business purposes and not for personal use.