Every fund must file an annual return
What the document says“Every qualified opportunity fund shall file an annual return (at such time and in such manner as the Secretary may prescribe) containing the information described in subsection (b).”
The section adds a new section 6039K to subpart A of part III of subchapter A of chapter 61 of the Internal Revenue Code of 1986 requiring every qualified opportunity fund to file an annual return giving its name, address and taxpayer identification number, whether it is a corporation or a partnership, the value of its total assets and of its zone property, details of each holding of zone stock or partnership interest including industry codes, census tracts, property values, residential unit counts and employment figures, details of the zone business property it holds, employment figures for its own trades or businesses, details of each person who disposed of an investment in it during the year, and anything else the Secretary requires. It must also furnish a statement to each person named in the return.
What the document actually says“Every qualified opportunity fund shall file an annual return (at such time and in such manner as the Secretary may prescribe) containing the information described in subsection (b).”
Every such fund must file a return each year. The Secretary sets when and how. It must carry the details listed elsewhere.
The return names the fund and what it holds. It gives the areas the property sits in. It gives rough job counts and who sold out that year.
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