The Agricultural Foreign Investment Disclosure Act of 1978 became effective on February 2, 1979. This Act requires any foreign person who acquires or transfers any interest, other than a security interest, in agricultural land to submit a completed Form FSA-153 to the Farm Service Agency Office not later than 90 calendar days after the date of the acquisition or transfer.

Any foreign person who holds, acquires, or transfers any interest in agricultural land, who the Secretary of Agriculture determines did not submit Form FSA-153, or who knowingly submitted a report that was incomplete, misleading, or false is subject to civil penalty of not more than 25 percent of the fair market value of the land on the date the penalty is assessed.

Anyone may contact the FSA Office, PO Box 157, Lake Andes, SD 57356 or call 487-7632, ext. 2.