Free December 31 report generator
No signup to run it. Your dates compute in your browser; nothing you enter leaves the page until you ask for the report.
A Qualified Opportunity Fund proves its 90% investment standard on two dates each tax year: the last day of the first six-month period and the last day of the year, with the two results averaged. A fund whose first month as a QOF falls in month seven or later of that tax year has a single test date its first year, the last day of the year.
The certification rides on the fund’s income return: for partnerships and S corporations the unextended due date is the fifteenth day of the third month after year end, and for C corporations the fifteenth day of the fourth month. Extensions exist. Calendar 2026 is the first reportable year under the new rules, so the first filings land in the spring 2027 season.
The written plan’s December 31, 2026 checkpoint asks for at least 10% of plan funds received and at least 5% spent or under signed contract.
The information-return penalty runs $500 per day, capped at $10,000 for funds under $10M in gross assets and $50,000 at $10M or more. Intentional disregard runs $2,500 per day, capped at $50,000 and $250,000 respectively. Failing the 90% asset test is a different meter entirely — the underpayment rate plus 3 points, applied monthly — and the calculator above keeps the two separate for exactly that reason.
The easy way
Map the fund once, and every number your report needs gets collected, tested, and packaged for your CPA.
