The following steps must be followed prior to transferring a firearm:
The licensee must have the transferee complete and sign ATF Form 4473, Firearms Transaction Record.
The licensee must verify the identity of the transferee through a government-issued photo identification.
The licensee must contact NICS through either the FBI or a State point of contact (POC). The licensee initially will get either a proceed or delayed response from NICS. If the licensee gets a proceed response, the firearm may be transferred if there is no additional State waiting period. If the licensee gets a delayed response it indicates the transaction is in open status and that more research is required prior to a NICS proceed or denied response. If the licensee gets a delayed response and there is no additional response from the FBI or POC, the licensee may transfer the firearm after 3 business days have elapsed. Of course, the licensee must still comply with any waiting period requirements under State law. FFLs contacting the FBI directly will receive information from the FBI indicating when the 3 business days time period elapses on delayed transactions.
ATF Online - Firearms - Frequently Asked Questions - Brady Law