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Can I swap rifles with a friend from NC if he drives it into NJ?

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My friend (a North Carolina resident) is coming up this month and we would like to swap rifles. He was going to drive his into NJ, and we were planning on doing the transfer at my FFL to cover the incoming rifle being tranferred via FFL into my possession.

How should we handle the other side? Can I just fill out a COE for both of us and let him drive the outgoing rifle back into NC? Or does it need to go (shipped) to a NC FFL?

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His rifle can be transferred to you with a NICS check at your NJ FFL provided you have a valid NJ FPID. Your rifle cannot be transferred to him in NJ unless he has an NJ FPID. Your rifle would need to be transferred to him in a state where he can lawfully acquire a long gun.

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