each place it appears, and (2) by substituting section 1400Z–3(d)(1) for section 1400Z–2(d)(1) each place it appears. 6039L. Information required from qualified opportunity zone businesses and qualified rural opportunity zone businesses (a) In general Every applicable qualified opportunity zone business shall furnish to the qualified opportunity fund described in subsection (b) a written statement in such manner and setting forth such information as the Secretary may by regulations prescribe for purposes of enabling such qualified opportunity fund to meet the requirements of section 6039K(b)(5). (b) Applicable qualified opportunity zone business For purposes of subsection (a), the term applicable qualified opportunity zone business means any qualified opportunity zone business— (1) which is a trade or business of a qualified opportunity fund, (2) in which a qualified opportunity fund holds qualified opportunity zone stock, or (3) in which a qualified opportunity fund holds a qualified opportunity zone partnership interest. (c) Other terms Any term used in this section which is also used in subchapter Z of chapter 1 shall have the meaning given such term under such subchapter. (d) Application to qualified rural opportunity funds Every qualified rural opportunity zone business (as defined in subsection (b) determined after application of the substitutions described in this sentence) shall furnish the written statement required under subsection (a), applied by substituting qualified rural opportunity for qualified opportunity each place it appears. . (2) Penalties (A) In general Part II of subchapter B of chapter 68 is amended by inserting after section 6725 the following new section: 6726. Failure to comply with information reporting requirements relating to qualified opportunity funds and qualified rural opportunity funds (a) In general In the case of any person required to file a return under section 6039K fails to file a complete and correct return under such section in the time and in the manner prescribed