What is a Qualified Opportunity Fund?
A qualified Opportunity Fund must be certified by the U.S. Treasury Department. Qualified Opportunity Funds must be organized as a corporation or partnership for the purpose of investing in designated Opportunity Zone Property and/or businesses. The qualified Opportunity Fund must hold at least 90% of its assets in designated Opportunity Zone Property.
To become a Qualified Opportunity Fund, an eligible corporation or partnership can self-certify by filing Form 8996 “Qualified Opportunity Fund” with its federal income tax return.