ID Letter

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Download: 1031 Exchange ID Letter

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Please use the link above to download the latest version of our ID letter form. The completed form will be due by day 45 of your exchange.

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If you have any questions regarding property identification or your exchange deadlines, please contact your exchange officer.  Please note that our business hours are 9:00am - 5:00pm Pacific.

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Identification Guidelines

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Identification of all potential replacement property is required on day 45 of the exchange.   Identification must be in writing and the description of the properties must be unambiguous.  The IRS provides two rules for identifying replacement property:

 

• The 3 Property Rule – The 3 Property Rule allows for identification of any three properties, of any price, anywhere in the United States.

• The 200% Rule - The 200% Rule is an option for identifying more than three properties.  With the 200% Rule four or more properties can be identified, however the combined value of all properties identified can not exceed 200% of the property sold. For example:

  • Investor A sells a rental home for $500,000. Investor A can identify ten $100,000 rentals, five $200,000 rentals or any combination of properties, provided the aggregate value does not exceed $1,000,000.

 

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