Opportunity Zones
Unlocking the opportunity
Qualified Opportunity Zones (QOZs) enable taxpayers to defer and reduce capital gains to unlock substantial tax incentives. It promotes long-term investments while enabling investors to achieve financial returns and make a positive community and social impact.
Recent QOZ insights from KPMG
Read Reminder! Qualified Opportunity Fund’s Asset Testing Requirements, June 21, 2022
Read Treasury Examines QOZ Investments for Reporting Deficiencies, February 14, 2022
Read Inducement or Deterent – Proposed Regulations Addressed by QOZ Investments by Foreign Persons, April 21, 2021
Read Reporting the Impact of Qualified Opportunity Zones, March 17, 2021
Read Covid Relief Extended for Qualified Opportunity Funds and Investors, Janaury 20, 2021
More KPMG insights
Read | Withholding and QOZs: Treasury Withholds Relief, and Non-U.S. Investors Withhold Capital, December 16, 2020
Learn | The 21st Century New Deal — Version 3.0, QOZs Final Regulations and Corrective Amendments, June 30, 2020
Read | Qualified Opportunity Zone Rules as of June 2020 — Checking In and Checking Up, June 22, 2020
Read | Section 1400Z-2 Finals Regulations; Observations on Correcting Amendments, April 20, 2020
Read | Timing Considerations for QOF & QOF Investors in Light of COVID-19, March 24, 2020
Read | Tax Incentivized Projects in QOZs—Incentives that May Work Together, March 23, 2020
Read | The Road Has Been Paved, Summary and Observations on Final QOZ Regs, January 23, 2020
Read | Initial Impressions of Final Regulations for Opportunity Zones, December 20, 2019
Read | Opportunity Zones—Unlock New Opportunities, September 2019
Read | Opportunity Zones and REITS—The Latest Guidance from Treasury and the IRS, June 24, 2019
Listen | Realty Speak—Latest on QOZ Guidance, Podcast, June 10, 2019
Read | A New Path Forward, Summary and Observations on Proposed QOZ Regs, May 2019
Read | Opportunity Zones: Highlights of the Second Set of Proposed Regulations, April 18, 2019
Read | Opportunity Zones and Privately Held Companies, December 2018
Read | New Rules for Opportunity Zones, October 22, 2018
Read | Opportunity Knocks under Tax Reform, February 18, 2019

Legislative history
Follow the links for a chronological history of the proposed and final regulations, notices and announcements, and forms and instructions as well as KPMG analyses and articles pertaining to the these documents.
If you have QOZ questions or comments, contact a QOZ Specialist under Contact Us below.
2021
August 9, 2021 | KPMG Report | Round Two: IRS Issues a Second Set of Corrective Amendments to the Qualified Opportunity Fund Regulations
August 5, 2021 | IRS | Investing in Qualified Opportunity Funds; Correction
May 12, 2021 | IRS | Announcement 2021-10 | Qualified Opportunity Zone Boundaries
January 20, 2021 | KPMG Report | COVID Relief Extended for Qualified Funds and Investors
January 19, 2021 | IRS | Notice 2010-10 | Extension of Relief for Qualified Opportunity Funds and Investors Affected by Ongoing Coronavirus Disease 2019 Pandemic
2020
June 4, 2020 | IRS | Notice 2020-39 | Relief for Qualified Opportunity Funds and Investors Affected by Ongoing Coronavirus Disease 2019 Pandemic
April 20, 2020 | KPMG Report | Section 1400Z- 2 Final Regulations; Observations on Correcting Amendments
April 6, 2020 | Treasury and IRS | Correcting Amendments | Investing in Qualified Opportunity Funds
2019
January 23, 2020 | KPMG Report | The Road Has Been Paved: Analysis and Observations about Final Regulations and Future Opportunity Zone Investments
December 20, 2019 | KPMG Report | Initial Impressions of Final Regulations for Opportunity Zones
December 19, 2019 | Treasury and IRS | Final Regulations | Investing in Qualified Opportunity Funds
May 2019 | KPMG Report | A New Path Forward (Observations on Second Set of Proposed Regulations)
April 18, 2019 | KPMG Report | Opportunity Zones: Highlights of the Second Set of Proposed Regulations
April 17, 2019 | Treasury and IRS | Second Set of Proposed Regulations | Investing in Qualified Opportunity Funds
Forms, instructions, and examples
Examples of 2019 Forms 8949 and 8997
Form 8996 Qualified Opportunity Fund
Form 8997 Initial and Annual Statement of Qualified Opportunity Fund Investments
Sample Form 8949 Sales and Other Dispositions of Capital Assets