Yes. A person who timely files an application for renewal of a license may continue operations authorized by the expired license until final action is taken on the application.
If a person does not timely file a license renewal application and the license expires, the person must file a new ATF Form 7 (5310.12)/7CR (5310.16) Application for Federal Firearms License, as required by 27 CFR 478.44.
[27 CFR 478.45]