Free Oklahoma Efs 1 Form

How to Write Oklahoma Efs 1

Completing the Oklahoma EFS-1 form involves several key steps to ensure that all necessary information is accurately provided. After filling out the form, it must be submitted in triplicate to the appropriate office. This process is crucial for establishing a security interest in agricultural products and ensuring compliance with state regulations.

1. Obtain the Form: Download the EFS-1 form from the Oklahoma Secretary of State’s website or obtain a physical copy from their office.
2. Fill in Section I: Start by entering the debtor's name and address. Include the Social Security Number (SSN) or Tax Identification Number (TIN) for each debtor.
3. Signatures: Ensure that each debtor block has an original signature in ink. If the debtor is a business, an authorized representative must sign.
4. Secured Party Information: Provide the name and mailing address of the secured party. Include the TIN, and ensure that the secured party signs the form.
5. Section II - Products Subject to a Security Interest: Fill in the product code and product name for each agricultural product. The county where the product is produced must also be listed.
6. Crop Year: If applicable, enter the four-digit crop year. If all crop years are covered, this section can be left blank.
7. Product Description: Describe the product if less than all of it is covered by the security interest. If all of it is covered, this can be left blank.
8. Review the Form: Double-check all entries for accuracy. Ensure that all required fields are completed and signatures are present.
9. Prepare Copies: Make three copies of the completed form, as it must be submitted in triplicate.
10. Include Payment: Prepare a $10 filing fee made out to the Oklahoma Secretary of State.
11. Mail the Form: Send the completed form, along with the payment and copies, to the Secretary of State, Central Filing System for Agricultural Liens, at the provided address.

Things to Do:

• Read the instructions carefully before filling out the form.
• Provide original signatures in ink for each debtor block.
• List only one debtor per block to avoid confusion.
• Submit the form in triplicate to receive a filed stamped confirmation copy.

Things Not to Do:

• Do not use nicknames unless they are in parentheses after the legal name.
• Avoid leaving any required fields blank; each section must be completed.
• Do not list the same debtor more than once on the form.
• Do not include brand symbols unless they can be typed on a standard keyboard.

1. Incomplete Debtor Information: Failing to provide complete names and addresses for all debtors can lead to processing delays. Each debtor must be listed separately with their full name and address.

2. Missing Signatures: Not signing the form in the required places is a common mistake. Each debtor must provide an original signature in ink, and businesses need a signature from an authorized representative.

3. Incorrect Social Security or Tax ID Numbers: Listing the wrong identification numbers can cause issues. Ensure that the correct SSN for individuals or Tax ID for businesses is included.

4. Product Code Errors: Omitting the three-digit product code or entering an incorrect code can invalidate the filing. Each product must have its own specific code.

5. County Code Mistakes: Failing to use the correct two-digit county code where the product is produced can lead to rejection. Only Oklahoma county codes are acceptable.

6. Ignoring Signature Requirements for Additional Forms: If using attachments, remember that each additional form must also include proper signatures. Write "SEE ATTACHMENT" on the main form.

7. Not Submitting in Triplicate: Submitting fewer than three copies of the EFS-1 form will delay processing. Always file in triplicate to receive a stamped confirmation copy.

8. Failure to Follow Filing Instructions: Not reading or adhering to the provided instructions can lead to mistakes. It is essential to understand all requirements before completing the form.

Misconceptions about the Oklahoma EFS-1 form can lead to confusion and errors in filing. Here are six common misconceptions along with clarifications:

• Only individuals can be debtors. This is incorrect. A debtor can be an individual, partnership, corporation, limited liability company, trust, or any other business entity.
• Filing the EFS-1 is optional. In fact, filing the EFS-1 is necessary to establish a security interest in agricultural products. Without it, the secured party may not have a valid claim.
• Only one product can be listed per form. This is a misconception. While each EFS-1 form can list multiple products, there is a limit of 20 product listings per filing.
• The EFS-1 form can be submitted without original signatures. This is not true. Original signatures in ink are required on at least one statement, although additional statements may have photocopied or carbon signatures.
• The EFS-1 filing lasts indefinitely. This is misleading. An EFS is effective for five years from the filing date unless a termination is filed. To extend it, a continuation form must be submitted.
• All Oklahoma counties can be covered with a single blanket code. While it is possible to use the code “00” to blanket all counties, it is essential to list the specific county code for each product to ensure accuracy.

Understanding these points can help ensure accurate and effective use of the EFS-1 form in Oklahoma.