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Foreign Owners

FOREIGN PERSONS WITH AN INTEREST IN AGRICULTURAL LANDS IN THE UNITED STATES ARE REMINDED THEY ARE REQUIRED TO REPORT THEIR HOLDINGS AND ANY TRANSACTIONS TO THE U.S. SECRETARY OF AGRICULTURE. ANY FOREIGN PERSON WHO ACQUIRES, TRANSFERS OR HOLDS ANY INTEREST, OTHER THAN A SECURITY INTEREST, 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. FOREIGN INVESTORS MUST FILE AGRICULTURAL FOREIGN INVESTMENT DISCLOSURE ACT REPORTS WITH THE FSA COUNTY OFFICE THAT MAINTAINS REPORTS FOR THE COUNTY WHERE THE LAND IS LOCATED. 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. DISCLOSURE REPORTS ARE ALSO REQUIRED WHEN THERE ARE CHANGES IN LAND USE. 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.  FOR MORE INFORMATION REGARDING FSA PROGRAMS, CONTACT THE NORTON COUNTY FSA OFFICE.