Editorial Note on Part 555
Editorial Note: Nomenclature changes to part 555 appear by T.D. ATF-487, 68 FR 3748, Jan. 24, 2003.

§ 555.122 Records maintained by licensed importers. ( a ) Each licensed importer shall take true and accurate physical inventories which will include all explosive materials on hand required to be accounted for in the records kept under this part. The licensed importer shall take a special inventory ( 1 ) At the time of commencing business, which is the effective date of the license issued upon original qualification under this part;
( 2 ) At the time of changing the location of his business to another region;
( 3 ) At the time of discontinuing business; and
( 4 ) At any time the Director, Industry Operations may in writing require. Each special inventory is to be prepared in duplicate, the original of which is submitted to the Director, Industry Operations, and the duplicate retained by the licensed importer. If a special inventory specified by paragraphs (a) (1) through (4) of this section has not been taken during the calendar year, at least one physical inventory will be taken. However, the record of the yearly inventory, other than a special inventory required by paragraphs (a) (1) through (4) of this section, will remain on file for inspection instead of being sent to the Director, Industry Operations. (See also § 555.127.)
( b ) Each licensed importer shall, not later than the close of the next business day following the date of importation or other acquisition of explosive materials, enter the following information in a separate record: ( 1 ) Date of importation or other acquisition.
( 2 ) Name or brand name of manufacturer and country of manufacture.
( 3 ) Manufacturer's marks of identification.
( 4 ) Quantity (applicable quantity units, such as pounds of explosives, number of detonators, number of display fireworks, etc.).
( 5 ) Description (dynamite (dyn), blasting agents (ba), detonators (det), display fireworks (df), etc.) and size (length and diameter or diameter only of display fireworks).
( c ) Each licensed importer shall, not later than the close of the next business day following the date of distribution of any explosive materials to another licensee or a permittee, enter in a separate record the following information: ( 1 ) Date of disposition.
( 2 ) Name or brand name of manufacturer and country of manufacture.
( 3 ) Manufacturer's marks of identification.
( 4 ) Quantity (applicable quantity units, such as pounds of explosives, number of detonators, number of display fireworks, etc.).
( 5 ) Description (dynamite (dyn), blasting agents (ba), detonators (det), display fireworks (df), etc.) and size (length and diameter or diameter only of display fireworks).
( 6 ) License or permit number of licensee or permittee to whom the explosive materials are distributed.
( d ) The Chief, Explosives Industry Programs Branch may authorize alternate records to be maintained by a licensed importer to record his distribution of explosive materials when it is shown by the licensed importer that alternate records will accurately and readily disclose the information required by paragraph (c) of this section. A licensed importer who proposes to use alternate records shall submit a letter application to the Chief, Explosives Industry Programs Branch and shall describe the proposed alternate records and the need for them. Alternate records are not to be employed by the licensed importer until approval is received from the Chief, Explosives Industry Programs Branch.
( e ) Each licensed importer shall maintain separate records of the sales or other distribution made of explosive materials to nonlicensees or nonpermittees. These records are maintained as prescribed by § 555.126.
(Approved by the Office of Management and Budget under control number 1140-0030) [T.D. ATF-87, 46 FR 40384, Aug. 7, 1981, as amended by T.D. ATF-172, 49 FR 14941, Apr. 16, 1984; T.D. ATF-293, 55 FR 3721, Feb. 5, 1990; T.D. ATF-400, 63 FR 45003, Aug. 24, 1998; ATF-11F, 73 FR 57242, Oct. 2, 2008; ATF 2013R-9F, 79 FR 46694, Aug. 11, 2014]