Belafonte's Hollywood home was searched by agents last week to find out whether he was in possession of guns or ammunition.
Prosecutors are now pondering whether to hit the producer with firearm charges based on their findings, having seized evidence at the scene.
Belafonte could face up to ten years if convicted of the illegal possession of a firearm.
According to celebrity news website TMZ, the 41-year-old producer is barred from having a gun or ammunition, having been convicted of domestic abuse in 2003.
His house was raided on Friday, and police sources told the website an empty shell casing and a bullet that was out of the casing were found.
However, according to TMZ, the bullet and the empty shell casing are not technically 'ammunition,' because neither in itself is a projectile.
Video footage shows agents arriving at Belafonte's house ahead of the search last week. Belafonte told the person filming that he had no idea why his house was being searched. He also denied that he had been handcuffed.
"They didn't detain me. They just asked me questions real quick," he explained.
TMZ's sources said that no gun was found.
Despite this, prosecutors are examining the evidence before making a decision whether to charge Belafonte.
The latest developments come as former Spice Girl Melony B, made sensational claims about their 10-year-old marriage, including allegations that she was subjected to racist slurs.
Mel also accused Belafonte of emotional and physical violence in front of the children and extorting her to participate in threesomes.