Notification of default transfers

Section 922(t)(1) of title 18, United States Code, is amended— (1) in subparagraph (C), by striking and at the end; (2) in subparagraph (D), by striking the period at the end and inserting; and; and (3) by adding at the end the following: (E) in the case of a transfer conducted pursuant to subparagraph (B)(ii) or clause (ii) or (iii) of subparagraph (C), the licensee notifies the Attorney General, not later than the close of business on the day on which the firearm is transferred, that the firearm has been transferred to the person..