Why a trade between dealers needs its own paperwork
Buying from another dealer is not the same transaction as buying from the public, and several states treat it differently — but almost never automatically. What usually matters is whether the selling dealer states, in writing, that the reports and holding periods their own law required of them were properly observed. Without that statement there is nothing to distinguish the trade from any other purchase.
This form is that statement, attached to the identification of the watch it covers. It is written as the selling dealer's own representations, not as a conclusion that any exemption applies — because whether one does depends on where each of you trades.
What to put on it
- Both licence numbers. The whole point of the document is that two licensed dealers are trading. A licence number with no issuing authority beside it is hard to check later, so record both.
- The serial number. It ties the declaration to one specific watch. A form that describes a model rather than an item proves very little.
- Who reported it, and when. If the selling dealer filed a purchase report when they acquired the watch, record the authority and the date. That is the fact the receiving dealer is relying on.
- The penalty-of-perjury wording, where it applies. Some states require the selling dealer's statement to be made under penalty of perjury. The toggle adds that clause; leave it off if it doesn't fit your situation.
Keep your copy
Both sides keep this form, and the retention period is set by the law where each dealer trades rather than by the document. Check the compliance guide for your state and city, and run the compliance checker if you are not sure what your own purchase obligations are in the first place.
A dealer trade is also the one purchase where it is easy to skip paperwork entirely, because you know the person. That is exactly when a signed record is worth having — not for the trade that goes well, but for the watch that turns out to have a history.
Common questions
Does this form make my purchase exempt from reporting?
No. It records what the selling dealer states about their own compliance, which is often what an exemption depends on, but the exemption itself comes from the law where you trade. Check your state and city guide, and ask an attorney if the answer matters to how you operate.
What if the other dealer won't sign it?
Then treat the purchase as you would any other acquisition, and follow the reporting and holding rules that apply to you. A dealer unwilling to state that their own records are in order is telling you something worth hearing.
Should I use this when I'm the one selling?
Yes. Switch the direction at the top and the form prints with you as the selling dealer, making the declaration to the dealer buying from you. The obligations run the same way in reverse.
Is an itemized bill of sale enough instead?
Sometimes. Some states accept either an interdealer transfer form or an itemized bill of sale carrying the same written statement. What matters is that the statement is there and signed, not what the document is called.
Is what I type stored anywhere?
The contents of your documents stay in your browser. They're saved on your device so you don't lose work, and they're never sent to us. The only things sent are the name and email you enter to unlock downloads, which add you to our email list. Your business name stays on your device.