Sure there is. I'm sure a title II dealer/manufacturer could assist in getting it registered as an SBS (short barrelled shotgun) for you in that scenario.
1. Disassemble it so it's no longer an "illegal," unregistered SBS.
2. Have a title II manufacturer (or yourself after applying and paying the tax to manufacture an SBS) put it together, and assist you in making the application and collecting the tax.
I dunno where or who you got that information from but, it is not correct - unfortunately - I wish it were correct.
This is from the most recent publishings from the NFA and BATFE regarding the status of the H&R Handy Gun -
[IRS Manual Supplement dated April 16, 1969, produced to Eric Larson by BATF first in 1998, then completely unredacted in 2000, in response to a FOIA demand for documents relating to the 1968 amnesty.]
Section 2. Background Title II of the Gun Control Act of 1968 provides that any person possessing an unregistered firearm as defined in Section 5845(a), Internal Revenue Code of 1954, as amended by Title II of the Gun Control Act of 1968, must register each such firearm with the Secretary of the Treasury or his delegate during the period November 2 through December 1 1968; that no information or evidence so acquired could be used as evidence against the registrant in any criminal proceeding with respect to a prior or concurrent violation of law.
Section 3. Instruction .01 An unregistered N.F.A. firearm in the possession of any person after the amnesty period or subsequently acquired or made by him in violation of the National Firearms Act can no longer be registered.
.03 In the unlikely event the request to register a firearm is made in person by the owner and at that time has the firearm in his possession and who refuses to voluntarily abandon the firearm, the Special Investigator has no recourse but to seize the firearm and to retain it pending formal forfeiture proceedings.
In case you would "get it from the horse's mouth" here's the link:
http://www.cs.cmu.edu/afs/cs/usr/wbardwel/public/nfalist/rip/atf_1969_amnesty_guidelines.txt
I certainly don't like it but, I've been involved with this thing for 72 years. Eric Larson wrote a little book on the H&R Handy Gun and expended an unbelievable amount of energy and time testifying before congress and the various bureaus over many years trying to get some sense put in the problem but, not unexpectedly, has not been successful. I have corresponded with him and spoken to him by phone and, in my opinion, he is a real hero - but no match for the bureaucrats and BATFE.
Please note that, not only can the Handy Gun not be registered but, if they find out you have an unregistered one, they can confiscate it from you - naturally without any thought of compensating you for it - in fact there is the fine you probably will pay them - $10,000.00.
The BATFE, in my opinion, comes as close as anything in our land of liberty, to representing "Police State" mentality and operations.
:barf: