No. They have to keep them as long as they stay in business. If they sell the business, the new owner has the same responsibility including the old records. Otherwise, the FFL has to turn the records in to the ATF Out-of-Business Records Center.
Yikes! Even worse! I was under the impression it was 20 years. And yet, we consent to it! Even worse, those FFL’s are making money, off you and I, while the 2A is destroyed.