Not Registration

Of course not. Registration would be illegal. OTOH, Harry Reids latest gun bill requiring universal background checks requires something else:

In a departure from section 103(i) of Public Law 103-159, section 122(a)(4) of the Reid bill enacts a new section 922(t)(4)(B)(ii) of title 18 of the U.S. Code to direct Attorney General Eric Holder to issue regulations “requiring a record of transaction of any transfer that occurred between an unlicensed transferor and an unlicensed transferee.” The legislation does not define the term “record of transaction,” does not specify any limitations on who creates and who keeps the record of transaction, and does not explicitly incorporate the existing prohibition on a national firearms registry.

So it's not registration of your firearms, it's a record of the transaction, transferring the firearm from one person to another with both names being recorded.

Sure, Harry, I feel better already.

H/T to Gateway Pundit and Heritage for the detailed article.