Foreign People Must Report U.S. Agriculture Land Holdings

Foreign People Must Report U.S. Agriculture Land Holdings  Smithvillereview

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Sep 20, 2023 - 02:30
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Foreign People Must Report U.S. Agriculture Land Holdings

Foreign Persons Required to Report Agricultural Land Holdings in the United States

(SMITHVILLE, Tennessee) – September 14th, 2023 — The Executive Director for the U.S. Department of Agriculture (USDA) Farm Service Agency (FSA) in DeKalb/Cannon County, Donny Green, reminds foreign persons with an interest in agricultural lands in the United States that they are required to report their holdings and any transactions to the U.S. Secretary of Agriculture.

Reporting Requirements for Foreign Persons

“Any foreign person who acquires, transfers or holds any interest, other than a security interest, including leaseholds of 10 years or more, in agricultural land in the United States is required by law to report the transaction no later than 90 days after the date of the transaction,” said Green.

Foreign investors must file Agricultural Foreign Investment Disclosure Act (AFIDA) reports with the FSA county office that maintains reports for the county where the land is located.

Penalties for Non-Compliance

“Failure to file a report, filing a late report or filing an inaccurate report can result in a penalty with fines up to 25 percent of the fair market value of the agricultural land,” said Green.

Definition of Agricultural Land

For AFIDA purposes, agricultural land is defined as any land used for farming, ranching or timber production, if the tracts total 10 acres or more.

Reporting Changes in Land Use and Ownership

Disclosure reports are also required when there are changes in land use. For example, reports are required when land use changes from nonagricultural to agricultural or from agricultural to nonagricultural. Foreign investors must also file a report when there is a change in the status of ownership such as the owner changes from foreign to non-foreign, from non-foreign to foreign or from foreign to foreign.

Impact on Family Farms and Rural Communities

Data gained from these disclosures is used to prepare an annual report to the President and Congress concerning the effect of such holdings upon family farms and rural communities in the United States.

Contact Information

For more information regarding AFIDA and FSA programs, contact the DeKalb/Cannon County FSA office at 615-597-8225 or visit the USDA website at http://www.usda.gov.

SDGs, Targets, and Indicators

1. SDGs Addressed or Connected to the Issues Highlighted in the Article:

  • SDG 2: Zero Hunger
  • SDG 15: Life on Land

2. Specific Targets Based on the Article’s Content:

  • SDG 2.3: By 2030, double the agricultural productivity and incomes of small-scale food producers, in particular women, indigenous peoples, family farmers, pastoralists, and fishers, including through secure and equal access to land.
  • SDG 15.9: By 2020, integrate ecosystem and biodiversity values into national and local planning, development processes, poverty reduction strategies, and accounts.

3. Indicators Mentioned or Implied in the Article:

  • Number of foreign persons reporting their holdings and transactions of agricultural lands in the United States.
  • Number of AFIDA reports filed by foreign investors with the FSA county office.
  • Number of penalties imposed for failure to file a report, filing a late report, or filing an inaccurate report.
  • Data collected from disclosures used to prepare an annual report to the President and Congress concerning the effect of foreign holdings on family farms and rural communities in the United States.

Table: SDGs, Targets, and Indicators

SDGs Targets Indicators
SDG 2: Zero Hunger SDG 2.3: By 2030, double the agricultural productivity and incomes of small-scale food producers, in particular women, indigenous peoples, family farmers, pastoralists, and fishers, including through secure and equal access to land. – Number of foreign persons reporting their holdings and transactions of agricultural lands in the United States.
– Number of penalties imposed for failure to report or inaccurately report transactions.
SDG 15: Life on Land SDG 15.9: By 2020, integrate ecosystem and biodiversity values into national and local planning, development processes, poverty reduction strategies, and accounts. – Number of AFIDA reports filed by foreign investors with the FSA county office.
– Data collected from disclosures used to prepare an annual report on the effect of foreign holdings on family farms and rural communities in the United States.

Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.

Source: smithvillereview.com

 

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