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Don't know if a local gun owner was pulling my leg or not, but he told me that there are state-by state restrictions on the amount of ammo a person can have in possesion or stock (# of 1000's of rounds) , without an FFL license. Anybody know of any specifics on this, particularly in Illinois, my residency. Thanks
 

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I think the law has more to do with the manufacturing of ammunition versus possession of ammunition. To commercially reload, you need to be licensed to do so. That said, after searching on the Internet, I was not able to find any restrictions on the legal limit for personal ownership.
 
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