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TREAS/IRS RIN: 1545-BP04 Publication ID: Fall 2018 
Title: ●Qualified Opportunity Funds 

This regulation provides rules under new 1400Z-2 of the Internal Revenue Code relating to how qualified opportunity funds will invest deferred gains into qualified opportunity zone property and qualified opportunity zone businesses. Specifically, the proposed regulation addresses what types of property qualify as qualified opportunity zone business property, and steps a qualified opportunity zone business must take to be a QOZB.  Further, this regulation provides guidance on the penalty imposed for failure to meet the investment standard required by 1400Z-2(d).  This regulation applies to qualified opportunity funds, and taxpayers who invest in such funds.  These proposed regulations provide reporting requirements for QOFs when an investor divests from the QOF.

Agency: Department of the Treasury(TREAS)  Priority: Economically Significant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: Yes  Unfunded Mandates: No 
EO 13771 Designation: Regulatory 
CFR Citation: 26 CFR 1   
Legal Authority: 26 U.S.C. 7805    Pub. L. 115-97, sec. 13823   
Legal Deadline:
Action Source Description Date
NPRM  Statutory  Proposed Regulations under new section 1400Z-2.  12/31/2018 
Action Date FR Cite
NPRM  12/00/2018 
Additional Information: REG-120186-18 Drafter attorney: Erika Reigle (202) 317-7006 Reviewer attorney: Shareen Pflanz (202) 317-7006 Treasury attorney: Michael Novey (202) 622-1339 CC:ITA:B05
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Erika C. Reigle
General Attorney
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW.,
Washington, DC 20224
Phone:202 317-7006
Fax:855 576-2339