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Lenders to farming operations often take a security interest in the debtor's farm products. In general, agricultural collateral can be classified as equipment, farm products, inventory or documents of title.For example, Little Farmer does not have to have complete ownership of the equipment listed as collateral in the security agreement. Name of person subjecting a farm product to a security interest, on EFS and master list—format. Under the FSA, a creditor must provide notice to preserve its security interest in farm products. The form of the notice depends on state law. Initial filings of all types, except FARM. This form can be filled out on your computer and then printed. The purpose of filing is to alert buyers of farm products to the existence of any security interests on the crops or livestock they may be purchasing. Use Schedule F (Form 1040) to report farm income and expenses.