Ask a California attorney.

BTW: Lending someone a gun is not the same as giving someone a gun.
If the gun in question is on loan to you from your friend, it was not a gift.
"Gift" implies legal ownership, as well as possession.

Steve is correct ask an attorney. That will be your best bet. Be careful about registring or attempting to register a gun you do not own.

RCG

Still confused. So what if it is a gift. Do I have to still go thru an FFL to register the gun in CA

Under federal law, a gift handgun (or any other firearm) belongs to the recipient, free and clear, as long as both donor and recipient have been and are in legal possession of the gun.

However, California law has changed since I lived there. It has become more complex, since certain handguns and rifles are forbidden to Californians under certain conditions.
You need to consult an attorney.

If you want to be legal, ALL handgun transfers in CA must go through a licensed dealer, and you will need to still wait the specified days. Accept those given from parent to child, child to parent, grand parent back and forth. These require no FFL transfer, only the filing of a simple form of ownership. Sibling transfers brother to brother are not included. These are treated as any other sale or transfer and must go through an FFL and waiting period. IF, however, the gun was given to you in another state, and there is no previous registration in CA, then all you need is to file the ownership form. Same as buying in another state, and moving to CA. Only the form is required. In addition, you will also need to apply for and pass the NEW HSC test, which is required every 5 years.

I had to go through this to last week to bring some of my AZ guns to CA. Purchased in AZ, but used in CA for home defense. Only needed the ownership form a valid HSC. You can find all this info in the HSC study guide online.

PS

As far as the CA CCW, how in the world did you get that and not know the laws. Is it still valid? The CCW requires you to identify a maximum of three guns which will be covered by the CCW. So NO. You cannot use a borrowed gun. You must own it, and you must identify it on your CCW. I know this because I was trying to find a way to get a CCW last week, and it ain't looking good.

Man am I glad I do not live in California ... Massachusetts .. Illinois .. Wash. D.C. -

Some fine people ... crazy gun laws .. IMHO

Just sayin'

It is enough to makes my head ache. +1 dondavis3