P&SP 3003 Annual Report of Market Agency - SOC

Instructions to Complete
Annual Report of Market Agency Selling on Commission
Form P&SP – 3003
As an individual, corporation, or association engaged in business as a market agency selling
livestock on a commission basis, you must file an annual report with the U.S. Department of
Agriculture’s Packers and Stockyards Program (P&SP) on Form P&SP-3003, Annual Report of
Market Agency Selling on Commission.
If you report on a calendar year basis, your form must be received by Packers and Stockyards
Program (P&SP) by April 15 each year. If you file on a fiscal year basis, P&SP must receive your
Annual Report form by 90 days after the close of your fiscal year. Requests for additional time to
file this report must be received by P&SP no later than the applicable filing dates above. Failure to
file this form may result in a fine of $110 for each day the report is delinquent. All information
must be completed on this form in its entirety. Failure to do so will result in the form being
returned incomplete. If available, you may provide independently audited financial
statements as an attachment to the fully completed annual report form.
For questions about Form P&SP-3003, or additional copies of the form, please contact the P&SP
Central Reporting Unit at 303-375-4264 or [email protected]. Forms and instructions
are also on GIPSA’s website at www.gipsa.usda.gov. Please fax the completed form to the Central
Reporting Unit at 314-457-4421, email to [email protected] or mail to:
USDA P&SP
P.O. Box 110639
Aurora, CO 80042
All items with an asterisk (*) following them must be completed before submitting the form
to PSP. If the items are not completed when the form is received, the form will be returned
for completion by the reporting firm.
SECTION-BY-SECTION INSTRUCTIONS
FORM HEADER – BUSINESS ENTITY ID
Business Entity ID should be completed using information provided by P&SP. If the information
is not already completed on the form, please contact your Regional P&SP office to obtain the
number.
FORM HEADER – PREFERENCE FOR FILING
Select the method by which you prefer to receive your Annual Report; Electronic or Paper Copy.
If you select Electronic, you will no longer receive a letter and forms via the Postal Service from
P&SP reminding you that your annual report is due.
GENERAL INFORMATION - SECTION 1
Enter name, address and contact information for the entity.
ORGANIZATIONAL STRUCTURE - SECTION 2
Provide information on the organization and ownership of the firm as well as businesses controlled
by this firm.
Form P&SP 3003-i

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SOC ACTIVITY (CLAUSE 1 BOND) - SECTION 3
Line 301: Enter the total number of head for each category of livestock sold during the year on a
commission basis by your market agency. Include livestock sold for individual officers, directors
and separately registered partners (report livestock consigned by the market on line 302).
Line 302: Enter the number of head of livestock consigned by you (the market agency) to the
market.
Line 303: For each category of livestock, enter the sum of lines 301 and 302 as the total number of
head sold on commission.
Line 304: For each category of livestock, enter the gross value of livestock sold on commission.
Line 305: Enter the number of day’s livestock sales were conducted by the market.
DEALER AND BOC OPERATIONS (CLAUSE 2 BOND) - SECTION 4
In Section 4, selling on commission firms that also operate as livestock dealers should report only
information about their own dealer business activity. If you provide a clearing service in addition
to your dealing activities, then the business activity of those that you are providing the clearing
service to should be reported in Section 5 below.
Line 401: Enter the cost for each species of livestock and the total cost of livestock purchased on a
dealer basis during the reporting period.
Line 402: Enter the number of head for each species of livestock and the total number of head of
livestock purchased on a dealer basis during the reporting period.
Line 403: Enter the cost for each species of livestock and the total cost of livestock purchased as an
order buyer during the reporting period. You must include all livestock that you bought on
commission whether you or another entity paid for it.
Line 404: Enter the number of head purchased for each species of livestock and the total number of
head of livestock purchased as an order buyer during the reporting period. You must include all
livestock that you bought on commission, whether you or another entity paid for it.
Line 405: Enter cost of livestock purchased as a dealer per quarter.
Line 406: Enter cost of livestock bought on commission per quarter.
Line 407: Enter the Total Cost of Livestock Purchases (line 401e plus 403e)
Line 408: Enter the number of days business was conducted, as a livestock dealer and/or order
buyer, during the reporting year.
CLEAREE AND CLEAROR DESIGNATIONS – SECTION 5
Line 501 – Check appropriate box indicating if another business provides clearing services for you.
Lines 502: If you checked “Yes” on line 501, enter name of clearing agent. If you checked “No”,
skip lines 502-512 and go directly to Section 6.
Line 503 – Check appropriate box indicating if you provide clearing services for others.
Lines 504-511: If you checked “Yes” on line 503, list the names of Clearees, and gross dollar value
of livestock purchased by each clearee during the reporting period, regardless of who paid for it
on lines 504-511. Attach an additional sheet if necessary. If “No”, skip lines 504-512 and go
directly to Section 6.
Line 512: Enter the sum of lines 505, 507, 509 and 511.
ANALYSIS OF CUSTODIAL BANK ACCOUNT FOR SHIPPERS’ PROCEEDS SECTION 6
Any and all bank accounts that are designated as custodial funds should say “Custodial Account for
Shippers’ Proceeds.”
Form P&SP 3003-i

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Line 601-602: Enter the date and balance as per the bank statement.
Line 603: Enter the dollar amount of deposits in transit. Deposits in transit are deposits that have
been made or mailed by the analysis date but were credited to the custodial bank account after the
analysis date.
Line 604: Enter the balance as of the analysis date of certificates of deposits or savings accounts
that are designated as custodial funds. These accounts and certificates of deposit must be at the
same bank that holds the custodial checking account.
Line 605: Enter the dollar amount of proceeds on hand. Proceeds on hand consist of cash and
checks that have been received from the sale of livestock which have not yet been deposited into
the custodial account.
Line 606: Enter the dollar amount of proceeds receivable. “Proceeds Receivables” vary based on
the livestock buyer. For most buyers when conducting the custodial analysis any uncollected
funds during the time period including the analysis date and the 6 days before the analysis are
proceeds receivables. For livestock purchases made by the market, its owner, officers,
employers, and credit buyers the time period is limited to include only the analysis date and the
previous business day.
Line 607: Enter the sum of lines 602 through 606.
Line 608: Enter the dollar amount of outstanding checks and drafts which have not yet cleared the
custodial bank account.
Line 609: Enter the dollar amount of proceeds that are due to consignors of livestock for which no
checks were issued.
Line 610: Enter the dollar amount of expense items incident to sales for which no checks were
issued.
Line 611: Enter the sum of lines 608 through 610.
Line 612: If line 607 exceeds line 611, enter the difference on line 612 as Overage.
Line 613: If line 611 exceeds line 607, enter the difference on line 613 as Shortage.
BALANCE SHEET - SECTION 7
This section must be completed on this form. Independently audited Balance Sheets are not
accepted in lieu of a fully completed Annual Report. Include only the Assets, Liabilities and Net
Worth of the reporting Entity. If available, you may provide independently audited financial
statements as an attachment to the fully completed annual report form.

Line 701: Enter the total of your firm’s cash on hand, total book balances of all bank accounts that
were not in an overdraft position.
Line 702: Custodial Overage from line 612.
Line 703: Enter the dollar value of any temporary cash investments (securities, CD’s, etc.). Include
only those marketable securities which represent the investment of cash available for current
operations and not otherwise pledged as security. Include cost or market value, whichever is
lower.
Line 704: Enter the dollar amount of only those accounts receivable that are due in one year or less
from sources not related to the company.
Line 705: Enter the dollar amount of only those accounts receivable that are due in one year or less
from sources related to the company, such as owners or officers.
Line 706: Enter the sum of lines 704 and 705.
Line 707: Enter notes receivable and portions of installment notes that are due within one year,
including those past due that are deemed likely to be collected.
Line 708: Enter the dollar value of livestock inventory
Line 709: Enter the dollar value of any other inventory.
Line 710: Enter the sum of lines 708 and 709.
Line 711: Enter the dollar value of other current assets.
Form P&SP 3003-i

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Line 712: Enter the sum of lines 701, 702, 703, 706, 707, 710 and 711.
Line 713: Enter the dollar amount of your firm’s investments.
Line 714: Enter the dollar value of the property, plant and equipment owned by your firm, net of
accumulated depreciation and amortization.
Line 715: Enter the dollar value of all other long-term assets.
Line 716: Enter the sum of lines 713 through 715.
Line 717: Enter the sum of lines 712 and 716.
Line 718: Enter the bank overdraft as shown on the firm’s books, not on the bank statement.
Line 719: Custodial Shortage from line 613.
Line 720: Enter the dollar amount you owe for livestock.
Line 721: Enter notes receivable and portions of installment notes that are due in one year or less,
including those past due that are deemed likely to be collected, from sources not related to the
company.
Line 722: Enter notes receivable and portions of installment notes that are due in one year or less,
including those past due that are deemed likely to be collected, from sources related to the
company (such as owners, officers).
Line 723: Enter the sum of lines 720 through 722.
Line 724: Enter the total dollar value of notes, mortgages, bonds, and installments thereon which
are payable in one year or less.
Line 725: Enter the total dollar value of any other accounts payable which have not already been
included on lines 720 through 724.
Line 726: Enter the sum of lines 723 through 725.
Line 727: Enter the total dollar value of notes, mortgages, bonds and installments that are not
payable within one year (past-due notes, etc. should be reported on line 724).
Line 728: Enter the sum of lines 726 and 727.
Line 729: Enter Total Net Worth (Equity – lines 717 minus line 728).
Line 730: Enter the sum of lines 728 and 729 (This amount should equal line 717, Total Assets).
INCOME STATEMENT - SECTION 8
Line 801: Selling Commissions of Market. Enter the amount of commission your market agency
collected for selling livestock on a commission basis.
Line 802: Gross Dealer Profit (+) or Loss (-). Enter gross profit on dealer transactions conducted
by the market.
Line 803: Buying Commission from line 406. Enter the amount of commissions your market
agency collected for buying livestock on a commission basis
Line 804: Other Income. Enter any other income earned during the reporting period.
Line 805: Total Income. Enter the sum of lines 801 through 804.
Line 806: Total Expenses. Enter total expenses for the reporting period.
Line 807: Net Profit or Loss. Subtract line 806 from line 805; enter the difference as Net Profit (+)
or Net Loss (-).
CERTIFICATION - SECTION 9
An owner, partner, officer or member in control of the entity must sign the report. Any owner,
officer, partner, or officer signing the report must be listed on lines 201-205.
Lines 901-905: Enter the date the report was signed, the title or authority of the person signing the
report, phone number and signature.

Form P&SP 3003-i

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Business Entity ID Number*

For P&SP Use Only

U.S. Department of Agriculture
Grain Inspection,
Packers and Stockyards
Administration

P&SP Bar Code Only

ANNUAL REPORT OF MARKET
AGENCY SELLING ON
COMMISSION

Indicate your preference to submit forms
electronically, or by paper copy

Electronic Filing
Manual Filing

Packers and
Stockyards
Program

All items with an asterisk (*) following them must be completed before submitting the form to PSP. If the items are not completed when the
form is received, the form will be returned for completion by the reporting firm.
Instructions: If an item's value is zero, enter "0". If an item does not apply, enter "NA". Upon completion please verify that all items have been
answered. Return completed form to the P&SP Central Reporting Unit. See instructions for information about this report.

GENERAL INFORMATION - SECTION 1

101

Reporting Period *
(mm/dd/yy)

a. from

b. to

102 Legal Business Name*
103 Business Name (dba)*
104 Mailing Address*
105 City, State, Zip*
106 Physical Address*
107 City, State, Zip*
108 Contact Name*
109 Telephone Number*

110

Fax Number*

111 E-Mail Address*

112

Web Address

ORGANIZATIONAL STRUCTURE - SECTION 2

List owners, officers, partners, and members in control of this business
a. Name

b. Title

c. Percentage Ownership

201*
202
203
204
205
206 Type of organization:

Individual

Partnership

Corporation

L.L.C.

207 Is this the same organization type reported last year?

Yes

No

208 Is this business owned or controlled by another business entity?

Yes

No

L.L.P.

Co-op

Association

Other

209 If line 208 is yes, identify the owner/controlling business name and address.
210 Does this business own or control other businesses within the livestock-meat sector?

Yes

No

If line 210 is yes, then provide the names of businesses that you own or control and percentage of control in items 211-214
a. Name of Business

b. Percentage of Control

211
212
213
214
According to the Paperwork Reduction Act of 1995, an agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays
a valid OMB control number. The valid OMB control number for this information is 0580-0015. The time required to complete this information collection is estimated to average 2
hours per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the
collection of information.

OMB No. 0580-0015
Expires: xx/xx/20xx

Form 3003

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SELLING ON COMMISSION OPERATION (CLAUSE 1 BOND) - SECTION 3

Livestock Sold at Market

a. Cattle

b. Hogs

c. Sheep & Goats

d. Horses & Mules

e. Total (a+b+c+d)

Livestock consigned by others to your market
301
(number of head)
302

Livestock consigned by you to your market
(number of head)

303

Total livestock consigned to your market
(number of head)

304 Gross value of livestock sold on commission
$

$

$

$

$

305 Number of Public Sales days covered by this report*

DEALER AND BUYING ON COMMISSION OPERATION (CLAUSE 2 BOND) - SECTION 4

Livestock Dealer Purchases

a. Cattle

Cost of livestock purchased on a dealer basis
401
for registrant's account

c. Sheep & Goats

b. Hogs

$

$

$

d. Horses & Mules

$

e. Total (a+b+c+d)

$

Number of head of livestock purchased on a
402
dealer basis for registrant's account
Livestock Bought on Commission
Cost of livestock bought on commission for
403 the account of others regardless of who paid
for the livestock.
Number of head of livestock bought on
404 commission for the account of others
regardless of who paid for the livestock.

$

405 Livestock Dealer Purchases

$

406 Livestock Bought on Commission
Cost of livestock bought on commission, per
quarter*

c. Sheep & Goats

$

$

$

$

$

d. Fourth Quarter

$
d. Fourth Quarter

c. Third Quarter

b. Second Quarter

$

e. Total (a+b+c+d)

c. Third Quarter

b. Second Quarter

a. First Quarter

d. Horses & Mules

$

$

a. First Quarter

Cost of livestock purchased as a dealer, per
quarter*

407

b. Hogs

a. Cattle

$

$

Total Cost of Livestock Purchased (should be equal to 401e plus 403e and should also be equal to 405a-405d plus
406a-406d )

$

408 Number of days livestock was purchased, as a livestock dealer/order buyer, during the reporting year*
CLEAREE AND CLEAROR DESIGNATIONS - SECTION 5

501 Are you a clearee (cleared by another business for your livestock purchases)?
502

Yes

No

If you checked yes in item 501, provide the name of the clearing agent:

503 Are you a clearor (provide clearing services for clearees)?

Yes

No

Clearee's Name as Registered

Gross Value of Livestock Purchased

504

505

$

506

507

$

508

509

$

510

511

$

512

$

Total Livestock Purchases of all Clearees

Form 3003

If yes provide information for lines 504-512

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ANALYSIS OF CUSTODIAL BANK ACCOUNT FOR SHIPPERS' PROCEEDS - SECTION 6

601 Bank Statement as of (Date)*
602 Balance per Bank Statement *

$

603 Deposits in Transit (in mail or bank, but not on statement)*

$

604 CD's and Savings Accounts designated as Custodial Funds*

$

605 Proceeds on Hand*

$

606 Proceeds Receivables*

$

607

$

Total Debits

608 Outstanding Checks and Drafts which have not Cleared Bank*

$

609 Proceeds Due Consignors of Livestock for which no Checks were issued*

$

610 Expense Items incident to Sales remaining in Account*

$

611

Total Credits

$

612

Overage in account (Debits exceed Credits) - Enter on line 702

$

613

Shortage in account (Credits exceed Debits) - Enter on line 719

$

BALANCE SHEET - SECTION 7

Include values only for the reporting entity.
Assets
Current Assets
701 Cash on Hand and in Non-Custodial Bank Accounts (Enter overdrafts under Current Liabilities - Line 718)

$

702 Overage in Analysis of Custodial Bank Account (From Line 612)

$

703 Temporary Cash Investments (Marketable Securities, Certificates of Deposit, Commercial Paper, etc.)

$

Accounts Receivable (Due in 1 Year or Less)
704 From Sources Not Related to Company

$

705 From Sources Related to Company

$

706 Total Accounts Receivable

$

707 Notes and Loans Receivable (Portion due in 1 Year or Less)

$

Inventory
708 Livestock Inventory

$

709 Other Inventory

$

710 Total Inventory

$

711 Other Current Assets

$

712

$

Total Current Assets

Non Current Assets
713 Investments

$

714 Property, Plant & Equipment (Net of Depreciation and Amortization)

$

715 Other Long-Term Assets

$

716

Total Long-Term Assets

$

717

Total Assets

$

Form 3003

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Liabilities and Net Worth
Liabilities
Current Liabilities
718 Bank Overdraft in Non-Custodial Bank Accounts

$

719 Shortage in Analysis of Custodial Bank Account (from line 613)

$

Accounts Payable
720 Livestock Payables

$

721 Other Payables to Sources Not Related to Company

$

722 Other Payables to Sources Related to Company

$

723 Total Accounts Payable

$

724 Notes and Loans Payable (Demand Notes and Portion of Long-Term Notes due in 1 Year or Less)

$

725 Other Current Liabilities

$

726

$

Total Current Liabilities

Non-Current Liabilities
727 Long-Term Liabilities (Due After 1 Year)

$

728

Total Liabilities

$

729

Total Net Worth

$

730

Total Liabilities and Net Worth (Equals Total Assets)

$

INCOME STATEMENT - SECTION 8

Income Statement
801 Selling Commissions of Market*

$

802 Gross Dealer Profit (+) or Loss (-)*

$

803 Buying Commission*

$

804 Other Income*

$

805

Total Income

$

806

Total Expenses*

$

807

Net Profit (+) or Loss (-)

$

CERTIFICATION - SECTION 9

Under the Packers and Stockyards Act any person who willfully makes, or causes any false entry or statement of fact in this report shall be deemed guilty of offense against the
United States, and be subject to a fine of $1,000 to $5,000, or to imprisonment for a term of not more than 3 years, or to both fine and imprisonment.
I certify that this report has been prepared by me or under my direction, and to the best of my knowledge and belief correctly reflects reporting entity operations.
901 Print Name*

903 Phone Number*

902 Signature (Must be signed by a person listed on 201-205)

904 Date*

905 Title*

Submitted information is confidential (9 CFR 201.96). Failure to report will result in forfeiture to the United States $110 per day until report receipt 7 (U.S.C. 222).

The U.S. Department of Agriculture (USDA) prohibits discrimination in all its programs and activities on the basis of race, color, national origin, age, disability, and where applicable, sex, marital status, familial status, parental status, religion, sexual
orientation, genetic information, political beliefs, reprisal, or because all or part of an individual’s income is derived from any public assistance program. (Not all prohibited bases apply to all programs.) Persons with disabilities who require alternative
means for communication of program information (Braille, large print, audiotape, etc.) should contact USDA’s TARGET Center at (202) 720-2600 (voice and TDD). To file a complaint of discrimination, write to USDA, Director, Office of Civil
Rights, 1400 Independence Avenue, S.W., Washington, D.C. 20250-9410, or call (800) 795-3272 (voice) or (202) 720-6382 (TDD). USDA is an equal opportunity provider and employer.

Form 3003

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