ldp processing
DESCRIPTION
LDP Processing. LSA Training July 24-26, 2007. LDP Workflow. Obtain from producer: FSA-211 if applicable required information for CCC-633 EZ production evidence (7-CN, Part 5) beneficial interest information (22-CN, Par. 28) Review beneficial interest Begin CCC 770 LSA checklist - PowerPoint PPT PresentationTRANSCRIPT
LDP Processing
LSA Training
July 24-26, 2007
LDP Workflow
• Obtain from producer:
– FSA-211 if applicable
– required information for CCC-633 EZ
– production evidence (7-CN, Part 5)
– beneficial interest information (22-CN, Par. 28)
• Review beneficial interest
• Begin CCC 770 LSA checklist
• Make eligibility determination
• Determine sufficient payment limitation
LDP Workflow
• Complete CCC Cotton AA-1
• Submit D transaction to ACRS
• Receive funds
• Issue funds to producer within 3 days
• File and deliver LDP documents
• Submit Name and Address trailer record
• Submit IRS trailer record
CCC-633 EZ
• CCC-Cotton AA obsolete
• All LDP applications taken on CCC-633 EZ (dated 06-07-06)
• Cotton LDP’s require Page 1 and Page 3
– Page 1 – LDP Agreement
• Terms and conditions
• statement of intentions to apply for LDP
– Page 3 – request for cotton LDP
CCC-633 EZ-Page 1
• Only statement of intention to obtain LDP on all eligible production
• Must be submitted before beneficial interest is lost
• Enables producer to request LDP after beneficial interest is lost
• Complete following items:
– Producer name and address, phone number, last 4 digits of ID number and signature/date
– Crop year
– LSA signature, title, date, name and address
CCC-633 EZ – Page 1
CCC-633 EZ – Page 1
CCC-633 EZ – Page 3
• Application for any type cotton LDP
– Irrevocable module Lock-In
– Gin-Direct
– Irrevocable Post-Ginning
– Lost Beneficial Interest
• Will not be approved unless Page 1 is filed before
loss of beneficial interest
CCC-633 EZ – Page 3
Irrevocable Module Lock-In LDP’s
• Harvested cotton stored in modules that has not been ginned
• Must have beneficial interest
• Must be requested on CCC-633 EZ, Page 3 before ginning
• Identified by gin-supplied trailer or module numbers
• Modules are to be spot-checked to verify existence
Irrevocable Module Lock-In LDP’s
• Payments processed after producer submits bale list from module identified on the original request.
• Must submit before final loan availability date.
• Use the AWP rate on the date a completed page 3 is submitted
• Cannot be revised or cancelled
Irrevocable Module Lock-In LDP’s
Module Spotchecks
• Spotcheck no less than 2.5% of requests (not modules) monthly
• Document results on CCC-Cotton AA-2
• Retain results indefinitely
CCC Cotton AA-2
Gin Direct LDP’s
• Must be requested on CCC-633 EZ, Page 3 before ginning
• Must have beneficial interest
• Rate in effect on date of ginning
• Production must be identified - all bales; specific number of bales from a farm; specific farms
• Can be revised or terminated under certain circumstances
Gin Direct LDP’s
Irrevocable Post-Ginning LDP’s
• Ginned cotton
• Requested after ginning and before loss of beneficial interest
• Rate based on the date a completed application is submitted
• Identified by bale list or file sequence number of a bale list
• Cannot be revised or cancelled
Irrevocable Post-Ginning LDP’s
Lost Beneficial Interest LDP’s
• Requested after ginning and after loss of beneficial interest
• Paid at rate in effect on date beneficial interest was lost
• Must provide acceptable documentation of date BI was lost
• Identified by bale list or file sequence number
• Require a 633 EZ page 1 be submitted prior to loss of beneficial interest
Lost Beneficial Interest LDP’s
Producer Signature
Additional Producer Signatures
LDP Approval
CCC-633 EZ Distribution
Approved CCC-633 EZ:• Maintain original in LSA file
• Provide copy to producer
Distribution Calculations
45 Bale LDP Request -