The Department of the Treasury and the Internal Revenue Service (IRS) released a proposed Form 8996 for Qualified Opportunity Funds (QOFs) for the 2019 tax year. The form is designed to collect information on the amount of investment by opportunity funds in business property by census tract. Specifically, the new form 8996 requires QOFs to report the Employer Identification Number of each business in which the QOF has an ownership interest, the census tract location of the tangible property of the business and the value of the QOF’s investment. It will also require QOFs to report the value and census tract location of qualified business property it owns or leases directly.