A system for identifying a failed shear pin of a ground-engaging system of an agricultural implement may include a ground-engaging system having an attachment structure coupled to a frame of an agricultural implement, a ground-engaging tool pivotably coupled to the attachment structure at a pivot joint, and a shear pin at least partially extending through the attachment structure and the ground-engaging tool to prevent pivoting of the ground-engaging tool about the pivot joint. The system may further include an operator notification member provided in association with the ground-engaging system and movable between a non-triggered position and a triggered position. Additionally, the system may include a linkage that, upon failure of the shear pin, allows the operator notification member to be moved from the non-triggered position to the triggered position.