NES Financial has recently contracted to provide its 20th Opportunity Zone Fund client with its purpose-built Opportunity Zone Fund Administration Suite, which is designed to provide the utmost in security, transparency and compliance to fund managers and investors alike. NES Financial’s innovative, technology-enabled administration expertise, which has already revolutionized best practices in industries as diverse as private equity, EB-5 investor visas and tax-deferred 1031 property exchanges, is now poised to do the same for Opportunity Zone Funds, as its solutions are adopted by an ever-growing share of the new industry.
Opportunity Zone Funds are qualified private-sector investment vehicles that invest at least 90 percent of their capital into Opportunity Zones (OZs) — targeted economically distressed areas across the U.S. The tax incentives associated with the OZ program were created to encourage long-term investment into these areas, with benefits accruing to investors at 5-, 7- and 10-year milestones.
However, funds must be careful to meet the program requirements and to generate accurate and timely reporting; otherwise, the tax benefits can easily be lost. Furthermore, the novelty of the program and still-evolving regulations surrounding Opportunity Zone Funds have left many prospective investors with unease about the security of their investments — a concern that NES Financial’s solutions address head-on.
Read more about the 20th Opportunity Zone Fund by clicking here.
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