adding at the end the following: (r) Penalties for failure To report loss or theft of firearm Whoever violates section 922(aa) shall be fined $10,000, imprisoned not more than 1 year, or both, with respect to each firearm involved in the violation. . (c) Requirement that local law enforcement authorities report lost or stolen firearms to the national crime information center Within 7 days after a local law enforcement authority receives a report that a firearm is lost or stolen, the authority shall transmit the report to the National Crime Information Center maintained by the Federal Bureau of Investigation.