Amends the federal criminal code to prohibit any person who has been notified by the Attorney General of a firearms license revocation or nonrenewal from transferring firearms from that person's business inventory into a personal collection of: (1) such person; (2) another unlicensed individual; or (3) an employee. Prohibits such person, individual, or employee, after such a revocation or nonrenewal, from transferring a firearm that had been in such inventory, except to another firearms licensee.
Requires license revocation notices to set forth the provisions of federal laws prohibiting an unlicensed individual from dealing in firearms.