1031 Exchange Officer
1031 Exchange Officer position ("EO") is a dynamic professional role.
The candidate is hired to facilitate IRS Section 1031 Quailed Exchanges. The EO
handles all aspects of the process from client acquisition, documentation, and
closing. The EO determines the advisability of transaction qualifying as a
tax-free exchange; creates the legal documentation required to effectuate the
exchange; coordinates with client; escrow and other third parties; promotes
business for the company by maintaining good customer relations. The EO assures
compliance with all policies and procedures, as well as, all applicable state
and federal tax laws and regulations.
- A thorough familiarity and knowledge of the I.R.C. Section
1031 Exchange regulations.
- Ability to provide documentation in compliance with all
current and applicable regulations.
- An understanding of the elements of all variations of a 1031
exchange; i.e. Simultaneous, Build to Suit, Forward, Reverse and Personal
- Knowledge and ability to perform in compliance with the
Exchange agreement documentation and applicable regulations in tandem.
- Preparation of proper documentation and Verify all exchanges
are in compliance with the regulations, statutes, FIRPTA and withholding
- Ensure Safe-Harbors, if used, are not violated and therefore
cease to apply.
- Interpret and apply the regulations to complex transactional
- Provide proper and accurate transaction accounting to the
- Respond and track the time constraints applicable to 1031
- Manage exchange funds in a prudent, safe manner that
incorporates sound business practices and complies with all regulations
and the Federation of Exchange Accommodators ("FEA") code of ethics
as well as Federal and State legislation as applicable. Complying with
California HB 1007, and any new or current legislation.
- Maintain a profitable operation following company operating
and reporting practices; prepare a realistic budget and manage budget
variances, review and analyze monthly financial statements, implement cost
- Generate tax deferred exchange business by creating and
maintaining a productive referral system and working relationships with
real estate professionals; CPA’s; Attorneys; escrow officers and real
- Design, draft and execute a marketing strategy to attract new
taxpayers/Exchanger interested in learning and executing a 1031 exchange.
- Generate and maintain a database of contacts.
- Participate in industry activities, attend educational
seminars, seek and schedule presentations where opportunities for business
- Take an active role in the "FEA" organization,
including being a committee member, attending various conferences and
educational programs throughout the year.
Experience and Skills
- Project a businesslike professionalism to the client in both
appearance and manner.
- Possess a strong customer service orientation, and a
willingness to place the customer first.
- Possess strong written/verbal communication skills as well as
excellent organizational/time management skills.
- Basic skills in computer terminal and personal computer
operation; including word processing and spreadsheet software.
- Ability to work with minimal supervision while performing