1031 Identification Form — Template and Requirements
The 1031 identification form is the document a taxpayer uses to formally identify replacement property within the 45-day identification window of a 1031 exchange. It must be signed by the taxpayer, delivered to the Qualified Intermediary in writing, and specific enough to unambiguously identify each property.
What it is
The identification form is a short written document that names replacement property candidates for a 1031 exchange. Every QI provides their own version of the form, but the operative language is substantially the same across firms: a reference to Treasury Regulations § 1.1031(k)-1, a list of identified properties with unambiguous descriptions, and an election of which identification rule applies.
Who uses it
The taxpayer (or an authorized representative) signs and delivers the identification form to the Qualified Intermediary on or before midnight of day 45 following the relinquished property closing. The QI retains the original; the taxpayer retains a copy with proof of delivery.
Required elements
A valid 1031 identification form must contain all of the following to satisfy IRS requirements:
- Taxpayer identification
- Full legal name of the taxpayer (individual or entity) completing the exchange.
- Reference to the relinquished property
- Description of the property given up, including address, legal description, or APN, and the date of transfer.
- Replacement property descriptions
- For each candidate: street address, city, state, and at least one of: APN/parcel number, legal description, or unit/lot identifier.
- Identification rule election
- Explicit election of the Three-Property Rule, 200% Rule, or 95% Rule.
- Signature and date
- Taxpayer's signature and the date of signing (must be on or before day 45).
- Delivery to QI
- The form must be delivered to the QI (not the seller, buyer's agent, or other party) by a method that creates a paper trail.
Template language (standard)
Typical operative language reads approximately as follows — your QI will supply the exact form to use:
"Pursuant to Treasury Regulations § 1.1031(k)-1, I hereby identify the following real property as potential replacement property for the property relinquished on [DATE] located at [LEGAL DESCRIPTION OR ADDRESS]:
1. [STREET ADDRESS, CITY, STATE, ZIP + APN / LEGAL DESCRIPTION] 2. [STREET ADDRESS, CITY, STATE, ZIP + APN / LEGAL DESCRIPTION] 3. [STREET ADDRESS, CITY, STATE, ZIP + APN / LEGAL DESCRIPTION]
I elect to identify under the [Three-Property Rule / 200% Rule / 95% Rule]."
Delivery methods and proof
The form must be delivered to the QI by a method that creates clear, datable proof of delivery. Accepted methods include:
- Tracked email with PDF attachment
- Most common modern method. Retain the sent email, tracking confirmation, and the attached PDF.
- Certified mail with return receipt
- Traditional method. Keep the return receipt.
- Hand delivery with written acknowledgment
- The QI provides written confirmation of receipt, signed and dated.
- QI portal submission
- Some QIs use electronic portals that timestamp the submission and generate a confirmation.
Common mistakes
- Vague property descriptions like 'a Walgreens in Texas' — IRS requires unambiguous identification
- Delivering to the seller or broker instead of the QI
- Signing on day 46 — even one day late kills the exchange
- Mixing identification rules — you must elect one rule
- Using the 95% Rule when you can't actually acquire 95% of combined identified value
Frequently asked questions
Can I revise my identification after I submit?
Yes, before day 45. You may revoke and replace identified properties as many times as you want until midnight day 45. After day 45, the list is frozen.
What happens if I miss day 45?
Your exchange fails. The relinquished property sale becomes a fully taxable event. No extensions are granted by the IRS for missed identification deadlines.
Can I identify properties I haven't done diligence on?
Yes. Identification is naming the property, not contracting or closing. You have until day 180 to complete diligence and close — though starting diligence on day 46 with only 135 days remaining is operationally risky.