(a) Any legal entity, whether foreign or domestic, that executes a program contract or agreement under which a payment, loan, or benefit may be available must provide written notification to the county committee in the county where the legal entity conducts its farming operation if:
- (1) Any person, group of persons, legal entity, or group of legal entities holds more than a 10 percent interest in the legal entity; and
- (2) The person, group of persons, legal entity, or group of legal entities, in accordance with § 1400.401, are ineligible to receive a payment, loan, or benefit.
- (b) Written notification must include the name and social security number or taxpayer identification number of the a person or legal entity, if known, and of all persons and legal entities that hold an interest in the legal entity.
- (c) The failure of the legal entity to provide this information will result in the ineligibility of the legal entity to receive any payment, loan, or benefit.
[73 FR 79273, Dec. 29, 2008, as amended at 85 FR 52040, Aug. 24, 2020]