1031.Exchange INTELLIGENCE NETWORK
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DEADLINES & IDENTIFICATION

45-day identification period

Also called: 45 day rule · identification period · day 45

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PLAIN-ENGLISH DEFINITION

The federal window for identifying replacement property in a deferred exchange.

What it means in practice.

Replacement property generally must be identified no later than 45 days after the date the relinquished property is transferred. The identification must satisfy applicable written-identification rules.

Why it matters.

This is a hard planning milestone; investors should not assume weekends or holidays create an automatic extension.

Additional notes.

Replacement property generally must be identified no later than 45 days after the date the relinquished property is transferred. The identification must satisfy applicable written-identification rules.

PRIMARY / REFERENCE SOURCES

Read the source material.

irs.gov ↗irs.gov/instructions/i8824irs.gov ↗irs.gov/publications/p544
CONNECTED LANGUAGE

Related definitions.

Deadlines & IdentificationIdentification noticeThe written designation of replacement property in a deferred exchange.Deadlines & IdentificationThree-property ruleAn identification rule allowing up to three replacement properties regardless of their fair market value.Deadlines & Identification200% ruleAn identification rule permitting any number of replacement properties when their total fair market value does not exceed 200% of the aggregate fair market value of the relinquished properties.Deadlines & Identification95% ruleA narrow rule that may preserve an identification when too many properties were identified, if enough of the identified value is actually received.
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