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- Create Date March 15, 2019
- Last Updated June 10, 2019
The Agricultural Foreign Investment Disclosure Act of 1978 requires all foreign owners of U.S. agricultural land to report their land holdings (10+ acres), acquisitions, dispositions, land use changes, and leases of 10 years or more to the Farm Service Agency. Those who are required to report must do so within 90 days of the transaction. Failure to report timely could result in a 25% fair market value penalty.
You could be their first and possibly their only source of complying with this law. It is very important that foreign investors are informed of the filing requirements so that they are not assessed a penalty for late filings.
We are asking your assistance in making foreign persons aware of this law. If they are U. S. Citizens or if they have a Permanent Residence Card they are exempt from the law.
Enclosed is a brochure that explains the requirements, definitions and the directions on how to file. Also enclosed is a blank FSA-153 form (Agricultural Foreign Investment Disclosure Act Report), for reporting.
We appreciate your cooperation and any help you can provide pertaining to this important matter.