How do I know if my fund qualifies as a QOF? How long does it take before I can start accepting OZ investments?
You self-certify by filing IRS Form 8996 with the QOF's first income tax return. You can accept money before self-certifying with the understanding that you'll need to be very mindful of maintaining your compliance in the interim. In short, self-certifying is easy, but you'll need to make sure the QOF stays compliant throughout the investors' holding periods.
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