; and (II) a certification that the applicant, if issued such a license, the applicant will comply with the certification made under this subparagraph. . (2) Transition rule A person who, on the date of enactment of this Act, is a licensed dealer (as defined in section 921(a)(11) of title 18, United States Code) and whose license to deal in firearms, issued under chapter 44 of title 18, will not expire before the end of the 1-year period beginning on the date on which regulations are prescribed under section 926(d) of title 18, United States Code, shall submit to the Attorney General a plan of the type described in section 923(d)(1)(G) of title 18, United States Code, not later than the end of that 1-year period. Any plan so submitted shall be considered to be submitted pursuant to section 923(d)(1)(G) of title 18, United States Code, for purposes of sections 923(g)(6)(B) and 926(d) of title 18, United States Code. (c) Annual security plan compliance certification requirement (1) In general Section 923 of title 18, United States Code, is amended by adding at the end the following: (m) (1) Each licensed dealer shall annually certify to the Attorney General that each premises from which the licensed dealer conducts business subject to license under this chapter is in compliance with the regulations prescribed under section 926(d), and include with the certification the results of a reconciliation of the firearms inventory of the licensed dealer with the firearms inventory at the time of the most recent prior certification (if any) under this paragraph, including a report of any missing firearms. (2) With respect to a violation of paragraph (1), the Attorney General may, after notice and opportunity for a hearing— (A) suspend, until the violation is corrected, the license issued to the licensee under this chapter that was used to conduct the firearms transfer