An individual who owns a firearm must report the loss or theft of that firearm to a law enforcement agency within 5 days after discovering that the firearm was lost or stolen. A first offense for failure to make such a report is a civil infraction punishable by a $25 fine, and a second or subsequent offense is a misdemeanor punishable by a maximum $500 fine. The 5-day reporting requirement does not apply to a licensed gun dealer.
Another person who is a member of the owner's family or who resides with the owner may report the lost or stolen firearm. If the other person reports the loss or theft of the firearm, the owner is not required to make a report. A report by another person is not an acknowledgment of firearm ownership.
A person who reports a lost or stolen firearm is immune from criminal prosecution for an offense pursuant to state law related to the storage of firearms.
The act requires a law enforcement agency that receives a report of a lost or stolen firearm to enter information about the lost or stolen firearm into the Colorado bureau of investigation crime information center database.
(Note: This summary applies to this bill as enacted.)