|The dreaded wallet holster...|
Well, the 4473 is a stand alone legal document. In effect it is part of the chain of custody for the firearm. Although, from the federal standpoint, a private sale is acceptable without it, it is an absolute inviolate necessity for each form to be correctly completed for that reason. Police officers understand the chain of custody.
The sales clerk can't change any data except on line one he/she can print the name of the purchaser IF it is illegible as entered by the buyer. Corrections can also be made AFTER the transfer by photocopying the completed form and doing the corrections on the photocopy. I didn't know these two things, in part because I've never had to do them.
I also learned that a college student's school issued ID is proof of residency for purchase of a handgun just as the serviceman's orders are proof of residency for the purpose of a firearms purchase.
I learned that all of these things are covered in the Gun Control Act of 1968 Regulations and the subsequent rulings by the ATF. The instructor also emphasized the importance of the open letters.
All in all it was an interesting class if only for the few tidbits.