Olympic Exchange Accommodators, LLC, a proud member of the FEA, is your qualified intermediary for all types of 1031 exchanges. We provide the safe harbor you need to complete your 1031 exchange in compliance with Internal Revenue Code Section 1031.
Safety for Your Money
We have set up protections for your proceeds during the exchange. You have the right to know that your money is safe during the exchange. We take this seriously. You have the right to have your funds held in a Qualified Escrow Account, which requires the dual signature of you and Mr. Helsdon to move funds out of the account. Only in this way – through a Qualified Escrow or Qualified Trust – can you be assured that the bank will not release your funds without you authorizing it.
Call us to find out more, and to learn why this is so important.
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Fri: 8:30am - 5pm
Washington state law, RCW 19.310.040, requires an exchange facilitator to either maintain a fidelity bond in an amount of not less than one million dollars that protects clients against losses caused by criminal acts of the exchange facilitator, or to hold all client funds in a qualified escrow account or qualified trust that requires your consent for withdrawals. All exchange funds must be deposited in a separately identified account using your taxpayer identification number. You must receive written notification of how your exchange funds have been deposited. Your exchange facilitator is required to provide you with written directions of how to independently verify the deposit of the exchange funds. Exchange facilitation services are not regulated by any agency of the state of Washington or of the United States government. It is your responsibility to determine that your exchange funds will be held in a safe manner.
1031 Exchange Timeline
Taxpayers generally have 180 calendar days to complete their 1031 exchange. In the first 45 days of the 1031 exchange period, the taxpayer must identify potential replacement properties. Click here to discover the 1031 Exchange timeline from your old “Relinquished Property” until the acquisition of your new “Replacement Property”.