Correct or in some states if the shotty started life out without a proper stock attached when it left the manufacturer... Here in Indiana the pistol gripped shotty is transfered as a pistol on the 4473, but of course it isn't the same as a real pistol... but that pistol transfer of the shotty allows you to manufacturer it as a AOW for your own personal use.. on a Form 1... Once registered and properly engraved, it can never be a pistol again... So, if it were to be taken out of the registery later on in life it would only be able to be made into a full size shotty again... and I believe any Registry device that starts life out in the registery on a Form 1 can only be owned by the original form 1 manufacturer. Along the same lines as a home made standard firearm... for your own personal use.... There is a way around all that "only one owner" but it requires use of a corporate intity of a sort to do... Sorry way too much info, but thought I would throw out there what my research has gleamed on the subject...