26 U.S.C. § 6726 — Failure to comply with information reporting requirements relating to qualified opportunity funds and qualified rural opportunity funds

(a) A person required to file a section 6039K return who does not file a complete and correct return on time and in the required way must pay $500 for each day the failure continues.

(b) (1) The maximum for one return is $10,000. (2) If the fund’s gross assets on the last day of the taxable year^* exceed $10,000,000, the maximum is $50,000 instead.

(c) If the failure is intentional disregard, apply (a) using $2,500 instead of $500, (b)(1) using $50,000 instead of $10,000, and (b)(2) using $250,000 instead of $50,000.

(d) (1) For a return due in a calendar year after 2025, increase each dollar amount in (a), (b), and (c) by that amount multiplied by the cost-of-living adjustment under section 1(f)(3), calculated using calendar year 2024 instead of calendar year 2016 in section 1(f)(3)(A)(ii). (2) Round the adjusted daily amounts of $500 and $2,500 down to the next multiple of $10; round the adjusted $10,000,000 asset threshold down to the next multiple of $10,000; and round every other adjusted amount in (b) or (c) down to the next multiple of $1,000.