NAU Country News

RMA Update - COVID-19 Additional Deferral of Interest Charges and Acreage Reporting Relief

Given the current situation surrounding COVID-19, the United States Department of Agriculture's (USDA's) Risk Management Agency (RMA) has announced COVID-19 deferral of interest charges and information on the FSA Acreage Reporting Date extension. 

MGR-20-016: COVID-19 Additional Deferral of Interest Charges

  • Read the full Manager's Bulletin HERE.Good Farming Practices
  • The Common Crop Insurance Policy, Basic Provisions (BP) state that interest will accrue starting the first day of the month, following issuance of the notice of premium due by the Approved Insurance Provider (AIP), provided that a minimum of 30 days has passed from the premium billing date.
  • AIPs are authorized to provide additional time for policyholders to make payment of premium and administrative fees. Interest accrual on premium payments and administrative fees, as noted above, will be waived to the earliest of an additional 60 days of the scheduled payment due date or the termination date on policies with premium billing dates between May 1, 2020, and July 31, 2020. AIPs will begin to accrue interest after this additional period for unpaid premium and administrative fees. AIPs should promptly notify potentially affected policyholders of said relief.
  • AIPs are also authorized to provide additional time for policyholders to make payment for Written Payment Agreements due between May 1, 2020, and July 31, 2020. Payments may be extended up to 60 days of the scheduled payment due date and considered a timely payment. Such extension of time will not be considered a modification of the Written Payment Agreement, and the AIP may waive any additional interest for the payment during this 60-day period.

MGR-20-015: FSA Acreage Reporting Date

  • Read the full Manager's Bulletin HERE.
  • In response to many stay-at-home orders due to COVID-19, RMA issued acreage reporting relief in its Manager’s Bulletin MGR-20-009.
  • For the 2020 crop year, ARDs that occur on or after May 15, 2020, RMA is extending the correction time period for an acreage report, or other forms due by the ARD, for an additional 30 days. Likewise, for the 2021 crop year ARDs before August 1, 2020, RMA is extending the correction time period for an acreage report, or other forms due by the ARD, for an additional 30 days. However, RMA is not extending the date by which an insured must provide an initial acreage report.

    • RMA is extending the USDA Reconciliation procedures contained in GSH Paragraph 504 an additional 30 days. If the AIP determines that an error exists or the producer identifies an error on the acreage report, or other forms due by the ARD, the AIP may correct the error up to 60 days following the ARD in the current crop year, provided the correction does not obtain, enhance, or increase the insurance guarantee or indemnity if there is an existing cause of loss for the crop.
    • AIPs must continue to document changes that substantiate the correction.
    • Procedures contained in GSH Paragraph 503 continue to apply.
    • Procedures contained in GSH Paragraph 505 continues to apply which allows AIPs to make conforming correction up to 30 days following the date that FSA corrects its information.

Read the full press release HERE.

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