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So on modern handguns that did not exist prior to 1991 or 2014 for long guns, what is the legal reason to do a voluntary registration?
The main reason why it might be wise to do a Voluntary Registration on such weapons is so that you only get arrested for a misdemeanor if you get caught carrying one concealed without a permit, or carrying one loaded. If you get caught with the weapon being unregistered, then the offense is a felony.
If the weapon is going to be a "Safe Queen", then I really don't see any advantage to registration.