Quote Originally Posted by Joelski View Post
If the firearm is already registered as an SBR, it will have to go to an FFL/SOT (Class III firearms dealer that has paid a Special Occupation Tax in order to hold the license) to await approval. same as with a suppressor. A non-SOT dealer may not hold the firearm for you, as they are not a Class III firearms license holder. If the dealer is agreeable, he might allow you to separate the upper and take it home, but the lower cannot reside anywhere but with a Class III firearms license holder until it's approved.
I can't speak for KY, but one additional point that I didn't articulate clearly in my previous post... In FL, a Class 3 item transfer is just like a non-NFA item once the transfer (stamp) has been approved, assuming you're both FL citizens. So you don't have to go through a FFL to do the transfer. Of course, that requires a significant amount of trust between the buyer and seller, which is why going through the dealer and paying two stamps can be a better choice.