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Williams Jr., chairman of the Rappahannock County Agricultural Stabilization and Conservation Service Committee, reminds all foreigners who have bought or sold agricultural land in the county to report the transaction to ASCS within 90 days. The report is required by the Agricultural Foreign Investment Disclosure Act (AFIDA).
“A report must be filed if all or part of the agricultural land is sold or title is transferred to another person,” Mr. Williams said. He said failure to report could result in a civil penalty of up to 25 percent of the fair market value of the interests held in that land.
ASCS is responsible for keeping track of how much agricultural land is owned or controlled by foreign individuals or interests. Mr. Williams said the report must be filed when a single for
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