Department of the Treasury Calls for Opportunity Zone Reporting Requirements

More Red Tape May Come to ‘Roth IRAs for the Rich’
– Financial Advisor IQ

Manatt’s Neil Faden, a partner in the firm’s corporate and finance group, spoke to Financial Advisor IQ about opportunity zone funds and new reporting requirements that could impact investments in opportunity zones.

Treasury officials have called for proposals on new rules that would require opportunity zone investors to collect and report more data on their assets in economically neglected neighborhoods.

Faden said that reporting is necessary for opportunity zone funds.

“If you don’t have reporting, the danger is the government will give tax breaks on $6 billion in capital gains and there won’t be any other side of the story,” he said.

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