Section 26500 does not apply to the sale, delivery, or transfer of a firearm that satisfies all of the following requirements:
(a) It is made by a person who has ceased operations as a dealer.
(b) It is made to a dealer, a manufacturer, importer, or wholesaler.
(c) It is made in accordance with Chapter 44 (commencing with Section 921) of Title 18 of the United States Code and the regulations issued pursuant thereto.
(d) The transaction is reported to the Department of Justice in a manner and format prescribed by the department.