Certain states require that. So I would look to deals in those states.
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How did the new regs change the social impact reporting requirement?
How can I find QOFs that have documented social impact?
Answers
You'll have to seek QOFs advertising as social impact funds. There isn't really any direct social impact reporting requirement. Rather, it's a data collection initiative by Treasury. Form 8996 will allow Treasury to pinpoint where capital is actually going, but it'll be a more comprehensive analysis by the government that determines social impact, and to be honest, I don't think that assessment will be completely accurate. River Fund is a prominent operation that is doing social impact, just in case you'd like to look them up on Google.
This was not covered in the Final Regulations, but there is additional vetting happening in this realm. There is currently no formal way to view all QOF social impact reporting.
As far as I know, there is no such requirement in the regs. Nevertheless, the new forms required to be filed by the investors and fund will ask for details of investment.
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