[Code of Federal Regulations]
[Title 7, Volume 10]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1400.602]

[Page 340]
 
                          TITLE 7--AGRICULTURE
 
  CHAPTER XIV--COMMODITY CREDIT CORPORATION, DEPARTMENT OF AGRICULTURE
 
PART 1400_PAYMENT LIMITATION AND PAYMENT ELIGIBILITY--Table of Contents
 
           Subpart G_Average Adjusted Gross Income Limitation
 
Sec.  1400.602  Compliance.

    (a) To comply with the average adjusted gross income limitation, an 
individual or entity, including all interest holders in an entity, 
general partnership or joint venture, shall provide the following as 
required by CCC:
    (1) A certification in the manner prescribed by CCC from a certified 
public accountant or attorney that the average adjusted gross income of 
the individual or entity does not exceed this limitation;
    (2) A certification in the manner prescribed by CCC from the 
individual or entity that the average adjusted gross income of the 
individual or entity does not exceed this limitation; or
    (3) Submission to CCC of the relevant Internal Revenue Service 
documents and supporting financial data as requested by CCC. Supporting 
financial data may include State income tax returns, financial 
statements, balance sheets, reports prepared for or provided to another 
Government agency, information prepared for a private lender, and other 
credible information relating to the amount and source of the 
individual's or entity's income.
    (b) Audits of certifications of average adjusted gross income may be 
conducted as necessary to determine compliance with the requirements of 
this subpart. As a part of this audit income tax returns may be 
requested and if requested must be supplied. Relevant income tax returns 
and documentation must be retained a minimum of two years after the end 
of the calendar year corresponding to the year for which payments or 
benefits are requested. If an individual or entity has submitted 
information to CCC, including a certification from a certified public 
accountant or attorney, that relied upon information from a form 
previously filed with the Internal Revenue Service, such individual or 
entity shall provide to CCC a copy of any amended form filed with the 
Internal Revenue Service within 30 days of the filing.
    (c) The individual or entity shall provide all information and 
documentation the reviewing authority determines necessary to verify any 
information or certification provided under this subpart, including all 
documents referred to in paragraph (a)(2) of this section. Failure to 
provide necessary and accurate information to verify compliance, or 
failure to comply with this subpart's requirements, will result in 
ineligibility for all program benefits subject to this subpart for the 
year or years subject to the request.
    (d) All information provided to CCC for the purposes of determining 
compliance with this subpart will remain confidential and not be subject 
to any request submitted under the Freedom of Information Act.

[68 FR 33346, June 4, 2003]