The Agriculture Financial Services Corporation is reminding farmers the submission deadline for supplementation forms for AgriStability is Tuesday, Sept. 30. Forms will be accepted after this date but a late filing penalty may apply. If producers are in a claim position, they can file up to Dec. 31 but would be subject to a penalty of $500 per month for every month that it is late. If there are no benefits payable, no penalty will apply.
Tips for producers completing the forms:
- Keep track of inventories at the end of your fiscal year. It is recommended to do a physical count if possible, write it down, and make note of weight categories and quality issues.
- Calving books, grain tickets, year-end supply invoices, harvested production reports (if a producer is in crop insurance) and deposit books are a good source of information.
- Although the deadline is September, the best time to start working on the supplementation forms is at tax time.