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Foreign owners must report farming interests to Secretary of Agriculture or face big fines
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Smithville, Tennessee– August 31, 2011—DeKalb County USDA Farm Service Agency (FSA) Executive Director 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. According to Green, "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 (AFIDA) reports with the FSA county office that maintains reports for the county where the land is located.