June 17, 2019
Agricorp has compiled some AgriStability reporting tips that are based on common reporting issues seen each year. Before customers start reporting for AgriStability, they can follow these key reporting tips that are guaranteed to save time by helping reduce errors and follow-up.
AgriStability is based on a self-reporting principle. This means customers complete their AgriStability
Year-end Report and Claim Forms and submit their tax forms each year. Agricorp uses the reported information to determine any payments. The 2018 program year forms are due by
June 30, 2019.
The top three reporting tips are listed below. To read the full list, see the
AgriStability information sheet, which customers received in their renewal packages.
Start by looking at last year's Payment Statement Calculation form.||Before reporting, check for any adjustments Agricorp may have made so these are captured in this year's form. Adjustments are commonly made for accounting methods, business structure changes and incorrect line codes.|
Be specific – the more details, the better.||Avoid grouping similar line items together. For example, report Risk Management Program premiums and payments separately from Production Insurance. |
Use the AgriStability guide to find the right line codes.||The RC4060 guide lists line codes for allowable and non-allowable income and expenses, which are needed to properly complete the form. The guide is available through the AgriStability
Publications page on agricorp.com.|
For any questions about AgriStability, give Agricorp a call. AgriStability specialists are here to help.