Exchange Deadlines

Key deadlines that the Exchanger must meet to have a valid exchange:

• 45 Day Deadline: You must identify potential like-kind replacement properties prior to midnight of the 45th day after closing on your first relinquished property.
• 180 Day Deadline: You must complete your 1031 Exchange transaction, which includes closing on all like-kind replacement properties that you intend to acquire, by the earlier of:
  1. Midnight of the 180th calendar day following the close of your first relinquished property, or
  2. The due date of your Federal income tax return for the tax year in which the relinquished property was sold, including any extension of time to file. (May apply if the first relinquished property closed October 17th to December 31st.)
• Both the 45th day and 180th day deadlines may, be extended by up to 120 days if the Exchanger qualifies for a disaster extension under Rev. Proc. 2007-56. (Does not provide taxpayer relief for Coronavirus pandemic)
• For more information about relief for taxpayers affected by the ongoing Coronavirus 2020 Pandemic, you can read through our post or the IRS document here.