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TREAS/IRS RIN: 1545-BP04 Publication ID: Fall 2019 
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  the amount of their investors’ 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 the 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: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Yes  Unfunded Mandates: No 
EO 13771 Designation: Deregulatory 
CFR Citation: 26 CFR 1   
Legal Authority: 26 U.S.C. 7805    Pub. L. 115-97, sec. 13823   
Legal Deadline:  None
Action Date FR Cite
NPRM; Partial Withdrawal of NPRM; and Notice of Public Hearing  05/01/2019  84 FR 18652   
NPRM Comment Period End  07/01/2019 
Final Action  09/00/2020 
Additional Information: REG-120186-18 Drafter attorney: Kyle Griffin (202) 317-4718 Reviewer attorney: Erika Reigle (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:
Kyle C. Griffin
General Attorney
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW.,
Washington, DC 20224
Phone:202 317-4718
Fax:855 576-2338