As I understand it, 4473's are held in the gun shop's records until they go out of business. Then they are transferred to the BATF.
It is the NRA, other pro-gun organizations and individuals, and conservative politicians who are preventing the gun grabbers from allowing the BATF to enter that info into a federal government computer database.
Join the NRA and/or any other legitimate pro-gun, pro-2nd Amendment, pro-FREEDOM organization (GOA, JPFO, etc.), and support their efforts with your dollars.
You understand correctly.
When Clinton's goons shut me down in '94 I had to turn over all my yellow sheets and bound book records to the BATF regional office, and they sent them on to the BATF record depository which is located in an underground cavern in WV. If you bought a gun from a FFL dealer within the last 20 years, which is the period of time which dealers are required to retain records, your initial purchase records of that gun are either on the dealer's bound book and form 4473 records which are open to BATF inspection once each year, or in the WV depository if the dealer is OOB.
In a way it amounts to defacto gun registration, except in many states you can legally sell, trade, or give the gun to someone else in that same state without any record of the transfer. That's why I prefer to buy or swap used guns in very good or better condition from private parties who don't know me instead of new guns from an FFL dealer. That way no one but the seller and me know what I bought or if I bought anything at all. I am gradually disposing of many of the guns I kept when I closed up my little shop and replacing them with guns bought or traded for from private sellers or traders. I had to record all of my and my wife's personal guns when I got the FFL, and some of those are what I call heritage guns that were handed down to my wife and me from grandparents and other family members which I will keep until I depart this earthly sod. At which time they will go to my kids who I hope will in turn pass them on to their kids who I hope will, well you get the idea.