Beat the 1031 Time Crunch: Mastering Exchange Deadlines

Time Matters When Completing a 1031 Exchange

We are pleased to introduce Bill Exeter, CEO of Exeter 1031 Exchange Services, LLC as one of our nationwide investment expert partners. As a leading national provider of comprehensive 1031 Exchange services, Bill Exeter has contributed the following article from his 1031 Exchange Guidebook on our website to provide valuable insights for investors in the area of 1031 Exchanges.

To successfully complete your 1031 Exchange, you must meet certain deadlines. These deadlines include the 45 calendar day identification deadline and the 180 calendar day 1031 Exchange deadline. 

These deadlines cannot be extended under any circumstances unless the properties or taxpayer involved in the 1031 Exchange are located within a natural disaster area designated by the President of the United States.

45 Calendar Day Identification Period

You have 45 calendar days to identify your potential replacement property. It should be identified to your Qualified Intermediary no later than midnight of the 45th calendar day following the close on the sale of your relinquished property transaction. 

This deadline is exactly 45 calendar days. If the 45th calendar day lands on a Saturday, Sunday or legal holiday, the deadline is not extended to the next business day. 

You can change your mind by formally revoking your identification of the replacement property and submitting another identification form at any time during your 45 calendar day identification period. You cannot change your mind after the 45th calendar day.

180 Calendar Day 1031 Exchange Period

You must complete your 1031 Exchange transaction, which includes the receipt of legal title to all replacement properties to be acquired, no later than the earlier of: 

  1. Midnight of the 180th calendar day following the close of the sale of your relinquished property transaction, or 
  2. The due date to file your Federal income tax return for the income tax year in which the relinquished property was sold, including any extensions of time to file.

 

We hope the insights provided by Bill Exeter of Exeter 1031 Exchange Services, LLC in this article have been informative and beneficial. We at CBC Capital Advisors are proud to partner with such a distinguished firm. Together, we are committed to facilitating a seamless 1031 exchange process for our clients. Our collaboration ensures that you receive comprehensive support and guidance, making your exchange experience as smooth and efficient as possible.

For the past 40+ years it has been our honor and pleasure to help clients achieve their investment goals through commercial real estate investing through…

  • Our Exclusive Nationwide Investment Network
  • Off-Market Commercial Real Estate Opportunities – Nationwide
  • and Saving Taxes with 1031 Exchanges

To Learn More, Give CBC Capital Advisors a Call at (806) 793-0888

In addition, you can learn all about our exclusive nationwide investing network and capabilities by watching Rick Canup’s short investment presentation below.