Trust Your Exchange to a Certified Exchange Specialist®

Why is it important to have a Certified Exchange Specialist® (CES®) manage your IRC Section 1031 exchange? Currently, due to lack of regulation, almost anyone is legally permitted to act as a Qualified Intermediary (QI) to facilitate a 1031 Exchange. The Federation of Exchange Accommodators (FEA) has addressed this issue by establishing a Certification and Continuing Education Program.

The Certification is available only to FEA members who meet specific criteria. CES® Designees are required to have three full time years of experience before sitting for the exam. This full time experience must include substantial time spent counseling taxpayers and their advisors (e.g., attorneys, accountants and real estate professionals). They must attend 20 hours of continuing education to maintain their designation. Designees are required to adhere to a strict Code of Ethics enforced by the FEA.

The purposes, as provided from the Federation of Exchange Accommodators), of the CES® certification program are to:

Establish nationally recognized standards of knowledge and experience for exchange specialists;

Assess the level of knowledge demonstrated by exchange specialists in a valid and reliable manner;

Encourage professional development in the exchange accommodation field;

Formally recognize individuals who meet the requirements set by FEA; and

Serve the public by encouraging quality Section 1031 exchange services.

Mary Foster, CES® and former President of FEA has stated, “The sign of a Certified Exchange Specialist® shows a commitment to knowledge and continued education that is difficult to achieve. As with other professions, the CES® is a must-have if consumers are looking for a QI who handles their business with the highest level of professionalism available.”

1031 Corporation has four Certified Exchange Specialists® on staff ready to meet your 1031 exchange needs. If you have questions about a 1031 exchange you are considering, call one of them today at 888-367-1031.