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Agricultural Foreign Investment Disclosure Act Foreign investors who buy, sell, or hold a direct interest in U.S. agricultural land must report their holdings and transactions to the U.S. Secretary of Agriculture. The reporting requirements became law in 1978 when the Presidents signed the Agricultural Foreign Investment Disclosure act (AFIDA.) The data gained from these disclosures will be used in the preparation of periodic reports to the President and Congress concerning the effect of such holdings upon family farms and rural communities. Failure to file an accurate report can result in a penalty with fines up to 25 percent of the fair market value of the agricultural land.
The information required by the Secretary should be reported on form FSA-153. Copies of this form may be obtained from the Cherokee County FSA office.
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