If you want a concrete example (rather than "ifs"), I am temporarily holding an AR for a friend who was stationed in Germany. His wife bought it so she could practice her marksmanship over and above what the US Army allowed her to do annually but they couldn't take it overseas with them. Under the new law, we will have to go to an FFL and conduct a background check for me to return his wife's rifle to him! This for a person I've known for nearly 10 years, who just had a very extensive reinvestigation for his clearance a few months ago and who will get the same periodically for the rest of his career ...