Opportunity Zone 2.0: Final Designations Released

As foreshadowed in our November 4, 2026 alert, which can be found here, the US Department of the Treasury and the IRS have announced the final Qualified Opportunity Zone designations , which will be in effect from January 1, 2027 through December 31, 2036. All 6,576 census tracts nominated by the governors of each US state and territory and the Mayor of the District of Columbia during the statutory window have been designated as Qualified Opportunity Zones, effective January 1, 2027. Of the 6,576 newly designated census tracts, 2,594 are located in rural areas.

The CDFI Fund has made available: 

• The full list of designated Qualified Opportunity Zones, including this downloadable Excel spreadsheet; and

• The Community Investment Mapping System, which allows users to review the new designations geographically.

Sponsors, investors, qualified opportunity funds, and qualified opportunity zone businesses should compare the final designations against their existing assets, development pipelines, and any planned investments. If a start-up business or development project is located in a currently designated Opportunity Zone that was not designated for the new period, the transition rules described in IRS Notice 2026-40 may be relevant, including the transitional working capital safe harbor rules for certain property acquired after December 31, 2026. For additional information, see our prior alert, IRS Issues Transitional Guidance on Qualified Opportunity Zones Under the One Big Beautiful Bill Act.

Our team is available to assist you in reviewing the final designations and evaluating the transition rules applicable to your existing or prospective investments.