The IRS has clarified that qualified opportunity zone businesses should not file Form 8996. Form 8996 is filed only by qualified opportunity funds.

The 2022 Instructions for Form 8996, Qualified Opportunity Fund, will make it clear that a qualified opportunity zone business should not file Form 8996.

IRS Post-Release Changes to Tax Forms, Instructions, and Publications https://www.irs.gov/forms-pubs/clarification-of-instructions-for-form-8996-informing-qualified-opportunity-zone-businesses-not-to-file-form-8996