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How common is it that funds follow the Opportunity Zones reporting framework?

Even though they are voluntary guidelines now, how likely is it that these best practices will be included in future legislation?


Answers
  • Maria De Los Angeles Rivera
    October 06, 2019

    A new form as been released in draft form for comments for the investors to report the status of their investments (Form 8997). A similar form for the QOF may follow, but for now the funds need to file Form 8996. This is, of course, in addition to any documentation agreed to be supplied to the investors by the fund.

  • Marc Schultz
    October 05, 2019

    I am not sure what you mean here. Is it the tax forms that need to be filed related to the QOF status? If so, then the answer is yes.

  • Neil Faden
    October 04, 2019

    I expect that there will be some reporting obligations eventually, but given the level of discord in Washington it is hard to know what, if anything, will pass in Congress.

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