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I can vouch for Got Uzi's comments, it can be a hassle. That said, my biggest headache is the monthly filing of state sales taxes. I sometimes forget even with reminders, and the penalty is $50 per jurisdiction (I have 3). Some months I have no sales (only GB transfers) and thus owe no tax, but if I forget and don't file the required forms I get hit with the penalty, and $150 is not a small sum when you have such a small business as mine. I got in as an FFL in 1984 mostly to buy powder and primers when they changed the laws on that, and i've been an SOT for the last 20 or so. I sell enough suppressors each year plus a few dozen guns to qualify as a dealer and not get in trouble for only enhancing my collection, which I don't do anyway. As for ATF visiting unannounced, that's never happened to me. They always call ahead of time and schedule a visit. That said, I have not had a compliance check in so long I can't remember. I had some yearly for about 5-8 years and I think they realized my business was so small it wasn't worth the time and trouble they were going through to examine my sales. They did help me early on with some bookkeeping tactics that have made it simpler and easier for me to track individual guns, and hopefully not get in trouble. They always find something, and I think its easier if you have something easy for them to find so they don't keep digging. But since my business is so small (I deal out of my home) its not really much of a hassle for me. The biggest fear I have now is winding my business down, I'm 76 and probably need to end it in the next 3-4 years I've got my name listed with several online sales (like Gunbroker) and Silencer Shop so I get referrals and business sent to me that I'll have to end, plus I don't want any Form 4 applications hanging on and will have to plan far ahead to get everything wound up once I decide to close. I also need to sell off my inventory of both Class I and III items, and may have to contact some of the big dealers that will buy it all as I just struggle to sell of piece-meal.