7 U.S.C. § 3501 : US Code - Section 3501: Reporting requirements

Search 7 U.S.C. § 3501 : US Code - Section 3501: Reporting requirements

(a) Acquisitions or transfers of certain agricultural land
interests by foreign persons
Any foreign person who acquires or transfers any interest, other
than a security interest, in agricultural land shall submit a
report to the Secretary of Agriculture not later than 90 days after
the date of such acquisition or transfer. Such report shall be
submitted in such form and in accordance with such procedures as
the Secretary may require and shall contain - 
(1) the legal name and the address of such foreign person;
(2) in any case in which such foreign person is an individual,
the citizenship of such foreign person;
(3) in any case in which such foreign person is not an
individual or a government, the nature of the legal entity
holding the interest, the country in which such foreign person is
created or organized, and the principal place of business of such
foreign person;
(4) the type of interest in agricultural land which such
foreign person acquired or transferred;
(5) the legal description and acreage of such agricultural
land;
(6) the purchase price paid for, or any other consideration
given for, such interest;
(7) in any case in which such foreign person transfers such
interest, the legal name and the address of the person to whom
such interest is transferred and - 
(A) in any case in which such transferee is an individual,
the citizenship of such transferee; and
(B) in any case in which such transferee is not an individual
or a government, the nature of the legal entity holding the
interest, the country in which such transferee is created or
organized, and the principal place of business of such
transferee;
(8) the agricultural purposes for which such foreign person
intends, on the date on which such report is submitted to the
Secretary, to use such agricultural land; and
(9) such other information as the Secretary may require by
regulation.
(b) Agricultural land interests presently held by foreign persons
Any foreign person who holds any interest, other than a security
interest, in agricultural land on the day before the effective date
of this section shall submit a report to the Secretary not later
than 180 days after such effective date. Such report shall be
submitted in such form and in accordance with such procedures as
the Secretary may require and shall contain - 
(1) the legal name and the address of such foreign person;
(2) in any case in which such foreign person is an individual,
the citizenship of such foreign person;
(3) in any case in which such foreign person is not an
individual or a government, the nature of the legal entity
holding the interest, the country in which such foreign person is
created or organized, and the principal place of business of such
foreign person;
(4) the type of interest in agricultural land which is held by
such foreign person;
(5) the legal description and acreage of such agricultural
land;
(6) the purchase price paid for, or any other consideration
given for, such interest;
(7) the agricultural purposes for which such foreign person - 
(A) is using such agricultural land on the date on which such
report is submitted to the Secretary; and
(B) intends, as of such date, to use such agricultural land;
and
(8) such other information as the Secretary may require by
regulation.
(c) Change in foreign person status of interest holders
Any person who holds or acquires (on or after the effective date
of this section) any interest, other than a security interest, in
agricultural land at a time when such person is not a foreign
person and who subsequently becomes a foreign person shall submit a
report to the Secretary not later than 90 days after the date on
which such person becomes a foreign person. Such report shall be
submitted in such form and in accordance with such procedures as
the Secretary may require and shall contain the information
required by subsection (b) of this section. This subsection shall
not apply with respect to any person who is required to submit a
report with respect to such land under subsection (b) of this
section.
(d) Conversion of land to agricultural uses
Any foreign person who holds or acquires (on or after the
effective date of this section) any interest, other than a security
interest, in land at a time when such land is not agricultural land
and such land subsequently becomes agricultural land shall submit a
report to the Secretary not later than 90 days after the date on
which such land becomes agricultural land. Such report shall be
submitted in such form and in accordance with such procedures as
the Secretary may require and shall contain the information
required by subsection (b) of this section. This subsection shall
not apply with respect to any person who is required to submit a
report with respect to such land under subsection (b) of this
section.
(e) Additional reports by foreign persons other than individuals or
governments
With respect to any foreign person, other than an individual or a
government, who is required by subsection (a), (b), (c), or (d) of
this section to submit a report, the Secretary may, in addition,
require such foreign person to submit to the Secretary a report
containing - 
(A) the legal name and the address of each person who holds any
interest in such foreign person;
(B) in any case in which the holder of such interest is an
individual, the citizenship of such holder; and
(C) in any case in which the holder of such interest is not an
individual or a government, the nature of the legal entity
holding the interest, the country in which such holder is created
or organized, and the principal place of business of such holder.
(f) Persons holding interests under subsection (e)
With respect to any person, other than an individual or a
government, whose legal name is contained in any report submitted
under subsection (e) of the section, the Secretary may require such
person to submit to the Secretary a report containing - 
(A) the legal name and the address of any person who holds any
interest in the person submitting the report under this
subsection;
(B) in any case in which the holder of such interest is an
individual, the citizenship of such holder; and
(C) in any case in which the holder of such interest is not an
individual or a government, the nature of the legal entity
holding the interest, the country in which such holder is created
or organized, and the principle (!1) place of business of such
holder.