DUTIES OF A QUALIFIED INTERMEDIARY » EXCHANGE SERVICES

QUALIFIED INTERMEDIARY SERVICES AND DUTIES

The duties, responsibilities and challenges involved with operating a Qualified Intermediary business include:

• A thorough familiarity and knowledge of the regulations
• Ability to provide documentation in compliance with the regulations
• An understanding of all of the elements of the Exchange
• Knowledge and ability to perform in compliance with the Exchange agreement and the regulations. 

In addition, the Qualified Intermediary must:

• Preserve the integrity of the Exchange through preparation of proper documentation and complete the Exchange in compliance with the regulations.
• Make sure the Safe Harbors, if used, are not violated and therefore cease to apply.
• Interpret and apply the regulations to complex transactional issues.
• Provide proper and accurate accounting to the taxpayer.
• Respond to the short time constraints prevalent in Exchanges.
• Manage the Exchange funds in a prudent, safe manner that incorporates sound business practices.

Since 1991 the experts at Exchange Authority have been helping clients conduct safe, secure and successful exchanges.  Contact us today to discuss your exchange.