The Two Hard Deadlines
IRS Section 1031 like-kind exchange has two non-negotiable deadlines, both starting from the day your relinquished property closes.
45 calendar days to identify replacement property in writing to your Qualified Intermediary. Weekends and holidays count. No extensions.
180 calendar days to close on replacement property. No extensions. If your tax return is due before day 180, you must file an extension or you forfeit the remaining time.
What Happens if You Miss a Deadline?
The exchange fails. The full capital gains tax becomes due in the year of the relinquished sale. There are no exceptions, no force-majeure relief, and no IRS appeals process for missing deadlines.
Best Practices
Identify backup replacement properties at the 30-day mark. Engage a Qualified Intermediary BEFORE closing the relinquished property โ you cannot touch the sale proceeds. Plan for inspection and financing on the replacement to fit in 90โ120 days, not 180.