MONROE - Foreign investors who buy, sell or hold a direct or indirect interest in agricultural lands in the United States are required under the Agricultural Foreign Investment Disclosure Act to report their holdings and transactions to the U.S. Secretary of Agriculture.
The Agricultural Foreign Investment Disclosure Act became effective on Feb. 2, 1979 and requires a foreign person who acquires or transfers any interest other than a security interest in agricultural land to report the transaction to FSA within 90 days of the sale or purchase.
The Secretary of Agriculture designated the Farm Service Agency to collect the reports which are to be submitted on form FSA-153, Agricultural Foreign Investment Disclosure Act Report. The completed form must be filed at the FSA county office where the land is located.
Failing to submit an accurate or timely FSA-153 could result in civil penalties of up to 25 percent of the fair market value of the property.
County government offices, bankers, Realtors, attorneys and others involved in real estate transactions are encouraged to notify foreign investors of the reporting requirements.
To obtain an FSA-153 form, contact the Green County FSA office at 608-325-4195 or visit forms.sc.egov.usda.gov/efcommon/eFileServices/eFormsAdmin/FSA0153_101013V01.pdf.
The Agricultural Foreign Investment Disclosure Act became effective on Feb. 2, 1979 and requires a foreign person who acquires or transfers any interest other than a security interest in agricultural land to report the transaction to FSA within 90 days of the sale or purchase.
The Secretary of Agriculture designated the Farm Service Agency to collect the reports which are to be submitted on form FSA-153, Agricultural Foreign Investment Disclosure Act Report. The completed form must be filed at the FSA county office where the land is located.
Failing to submit an accurate or timely FSA-153 could result in civil penalties of up to 25 percent of the fair market value of the property.
County government offices, bankers, Realtors, attorneys and others involved in real estate transactions are encouraged to notify foreign investors of the reporting requirements.
To obtain an FSA-153 form, contact the Green County FSA office at 608-325-4195 or visit forms.sc.egov.usda.gov/efcommon/eFileServices/eFormsAdmin/FSA0153_101013V01.pdf.
