The replacement property must be identified within 45 days of the transfer of the first relinquished property.

This 45 day Identification Period is very strict and is not extended if the 45th day should happen to fall on a Saturday, Sunday or legal holiday.

The acquisition of your replacement property must be completed by the earlier of:

1. 180 days of the transfer of your first relinquished property, or
2. the due date of filing your federal income tax return for the year in which you transferred the first relinquished property, including extensions. This 180 day Exchange Period is very strict and is not extended if the 180th day should happen to fall on a Saturday, Sunday or legal holiday.

For additional information on the Identification and Exchange Period requirements,
please view the article 'Know the Deadlines'

All information contained herein is provided as a matter of courtesy to our clients. First American Exchange Company, its officers and agents make no representations as to the completeness and applicability of the information contained herein to each individual taxpayer. As a Qualified Intermediary, First American Exchange Company is precluded from providing tax or legal advice to its clients. Please consult your own independent tax or legal advisor regarding your specific circumstances.