Although the USDA has extended the 2009 farm program sign-up deadline from June 1 to August 14, June 1, 2009 is still the deadline that will be used to determine ownership interest in a legal entity that receives payment subject to limitation. Therefore, while growers have until August 14th to complete signup for this year’s program participation and to actually submit the appropriate forms, the status of their farm organization will be determined as of June 1st.
For example, as of June 1:
- Corporations, LLCs, LLPs, LPs and other similar legal entities must be formed to be recognized for payment eligibility purposes.
- Stockholder changes must have been made to be recognized for payment eligibility purposes.
- Partnership agreement has to be in place if forming a new partnership.
- Amendments to partnerships have to be in place by JUNE 1, 2009 for adding deleting or changing partners.
If you have any questions, please contact your local FSA office.