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45-Day ID for Forward/Deferred Exchanges

If you are engaged in a forward or deferred exchange, you must identify potential Replacement Property within 45 days of the close of the Relinquished Property sale. Keep in mind the following:

  • Deadlines are computed as follows: 1) the date of the disposition of the Relinquished Property is day #1, the ID period ends at midnight on the 45th calendar day thereafter, meaning that weekends and holidays are always counted.
  • If you acquire all the Replacement Property for your exchange prior to the end of the 45th day, the Replacement Property is deemed to be identified and no explicit identification is required.
  • The 1031 statues do not dictate either what form the identification must take nor to whom the identification is required to be delivered. However, it is strongly recommended, in case of an audit, that best practices are followed and that a form for identification similar to that found below be used and that the identification is delivered to ones’ Accommodator (the best option), attorney, CPA or broker. Remember that, in case of an audit, you’ll likely be asked to show conclusively that the ID was delivered prior to the end of the 45th day following the Relinquished Property sale.
  • It is wise to seek the advice of a tax attorney or CPA if the contemplated Replacement Property involves improvements that are being made, a fractional interest in an asset (e.g. a tenancy-in-common interest that may fluctuate, a DST or similar fractional ownership assets) to ensure that there is sufficient precision in the description of the identified assets.
  • If you do not identify any Replacement Property in the 45-day ID period, the Accommodator is required by statue to return the cash proceeds of the sale of the Relinquished Property immediately after the 45-day period is over and the exchange will have failed. If you do identify Replacement Property and acquire everything that has been identified, then the Accommodator may return any remaining cash once the close of (final) Replacement Property has occurred. If you do identify Replacement Property and are unable to acquire anything that was identified or able to acquire only some of what was included in the identification, then the Accommodator is required by stature to hold remaining cash in escrow until the 180-day exchange period has expired.

Delayed Exchange 45-Day Identification Form:

PDF Download Web-version

The Web-version of the form allows it to submitted to ExStra online and there will be a valid time-stamp applied to each such submission. The PDF version must be downloaded, filled out and submitted either via FAX, email or delivered physically to your chosen recipient prior to the end of the 45-day ID period.


45-Day ID for Reverse Exchanges, with or without Improvements

If you are engaged in a reverse exchange, with or without improvements, you must identify potential Reliquished Property within 45 days of the close of the Replacement Property purchase. Keep in mind the following:

  • Deadlines are computed as follows: 1) the date of the acquisition of the Replacement Property is day #1, the ID period ends at midnight on the 45th calendar day, meaning that weekends and holidays are always counted.
  • It is very common for the Relinquished Property to be described and identified in the standard Qualified Exchange Accommodation Agreement that is used to conduct the reverse/improvement exchange and, if so, then no separate identification is needed.
  • However, if the ID requirements are not met in the QEAA and if you dispose of all the Relinquished Property for your exchange prior to the end of the 45th day, the Relinquished Property is deemed to be identified and no explicit identification is required.
  • The 1031 statues do not dictate either what form the identification must take nor to whom the identification is required to be delivered. However, it is strongly recommended, in case of an audit, that best practices are followed and that a form for Identification similar to that found below be used and that the identification is delivered to ones’ Accommodator (the best option), attorney, CPA or broker. Remember that, in case of an audit, you’ll likely be asked to show conclusively that the ID was delivered prior to the end of the 45th day following the Replacement Property acquisition.

Reverse / Improvement Exchange 45-Day Identification Form:

PDF Download Web-version

The Web-version of the form allows it to submitted to ExStra on-line and there will be a valid time-stamp applied to each such submission. The PDF version must be downloaded, filled out and submitted either via FAX, email or delivered physically to your chosen recipient prior to the end of the 45-day ID period.


Date Calculator

We provide a simple calculator that will show you the 45th and 180th calendar days following a day that you provide in mm/dd/yyyy format. Use at your own risk! We provide this tool as a convenience to our Clients and we do not accept responsibility for any inaccuracies that may be discovered.