Important information for our customers and 1031 community regarding safety and IRS deadlines
During this period of volatility in the financial markets we have been receiving inquiries regarding the safety of the funds that we holding on behalf of our Exchange customers.
1031 Fund Security
- $100 million Fidelity Bond
- $50 million third party corporate performance guarantee
- $30 million in Errors & Omissions insurance
- Exchange funds are held in segregated accounts for the benefit of the named Exchanger, using the Exchanger’s taxpayer identification number
- Disbursement of exchange funds requires written authorization from the Exchanger
- Disbursements require dual authorization and are controlled by our separate Banking Division; sales and administrative staff have no authority or ability to transfer funds
- Regular reconciliation of exchange fund balances by our Banking staff and our parent company
- As part of a large publicly-traded corporation, we are subject to audits, controls and a level of financial transparency about the entire organization that is not required of privately held businesses
- To increase security as well as provide increased convenience to our exchange customers, we have chosen the use of an electronic platform (utilizing two factor authentication) as the preferred delivery method for exchange documents
Disaster Extensions & Coronavirus
Read more about disaster relief here: IPX1031 Disaster Relief Deadline Extensions information and IRS Disaster Relief Notices
IPX1031: Prepared & Ready to Help
IPX1031 – Choose the Experts
IPX1031 focuses solely on 1031 Tax Deferred Like Kind Exchanges. As the national leader in 1031 Exchange services, IPX1031 has the financial assurances, security and expertise essentials to protect your funds and provide answers and guidance throughout the exchange process. For more information or to discuss your specific 1031 tax deferred exchange situation, please contact us.
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