I hate to burst people's bubbles but "Transferring it out" does not take your name off it.
Your name is still on it if you bought it new and will always be. If they do need to trace it down, & it's something where they actually decide to follow up the ownership chain, you would still be the first one they contact.
All the "Transferring it out" does is provide you a paper trail so you can prove it was not yours at the time.
The same can also be done in many free states legally by simply keeping a record of the serial number and information and when it was sold / given and to whom it was sold or given.
In many free states this is not even required, just your reasonable statement, but it's often nice to have a bit of backup paperwork.
Unlike it goes down in TV & Movies, tracing the gun's original owner is not usually that important of a part of many crimes, since most criminals will use stolen / lost guns or guns that are many years away from their original owners. It's usually done, but I'd say the Majority of guns traced down through paperwork never actually lead to the criminal, rather just to the first owner who sold it, got it stolen, gave it away, lost it etc.
Now if the Feds are trying to pin something on you to cover up their own stupidity in letting something big and public go down, sure, they'll be matching up your fingerprints off bullets you sold to somebody and knocking on your door shortly. So if some "terrorist" uses a gun you once were the original purchaser of, expect to have some suit wearing oppressor types show up to grill you.
