Adds a new subsection (aa) to 18 U.S.C. 922 that makes it unlawful for unlicensed persons to transfer firearms to other unlicensed persons unless a licensed importer, manufacturer, or dealer first takes possession to comply with subsection (t); treats the licensee as transferring from its inventory for compliance purposes; provides exceptions (including certain temporary transfers, transfers involving law enforcement or family members, transfers by operation of law, transfers approved under 26 U.S.C. 5812, and transfers at shooting ranges/hunting while meeting conditions); requires licensees to provide notice and obtain certification on a form prescribed by the Attorney General; and requires the Attorney General to make Spanish and English versions of the background check and notice/certification forms available to licensees.

Amends the cross-reference in 18 U.S.C. 924(a)(5) to add the newly created subsection (aa) to the list of subsections covered by that provision.