CPA-led 1031 exchange guide
1031 Exchange Timeline
The 1031 timeline is unforgiving. Two clocks start the moment your relinquished property closes, and both run on calendar days — weekends and holidays included. Here is every milestone in order.
Pre-closing — engage the QI
The exchange agreement must be in place before the relinquished property closes. Engaging the QI as soon as you accept an offer gives you the cleanest workflow.
Day 0 — relinquished property closes
Net proceeds wire to the QI's segregated exchange account. The 45-day and 180-day clocks both start at midnight.
Day 45 — identification deadline
A written, signed identification of replacement candidates must be delivered to the QI by 11:59 PM. The list is locked after this moment.
Days 46–179 — replacement period
Negotiate, finance, and close on identified property. i1031 coordinates the Qualified Intermediary assignment and wires exchange funds directly to the closing.
Day 180 — final completion deadline
All replacement property must close by 11:59 PM Day 180 (or your return due date, including extensions, whichever is earlier). Any unused funds return to you and become taxable boot.
Frequently Asked Questions
Do weekends count?
Yes. The 45-day and 180-day clocks run on calendar days. If Day 45 falls on a Sunday, your identification is still due that Sunday.
What if I file my return before Day 180?
Filing your return ends the replacement period. File an extension to preserve the full 180 days when the exchange straddles your filing deadline.