“Turns out, Mr. Stockman’s team made a 99.98 percent accuracy rate. The majority of the violations were on the 4473 and included incorrect information on ethnicity, wrong dates and leaving a box empty when the city and county go by the same name, Mr. Stockman said. In addition to 100 percent compliance on the Form 4473, dealers must log all ‘acquisitions and dispositions’ by manufacturer, purchaser, model, serial number and caliber, and the date the dealer bought and sold each gun. All paperwork needs to be kept for 20 years and be made available for inspection. Mr. Stockman’s audit took about seven months to complete.”
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