In a 1031 exchange there is nothing more important than how your exchange proceeds are safeguarded.
We only utilize restricted 1031 accounts where you funds are never moved without your explicit written authorization!
The Fyntex DifferenceThe IRS requires that if you are planning to take advantage of the deferred gain treatent available via Section 1031 of the Internal Revenue Code, you must utilize the services of a Qualified Intermediary.
This will be the independent firm who generates the critical exchange documentaion which transitions your sale from a taxable event to a tax deferred one.
The Intermediary will aslo be responsible for the custody of your hard earned exchange proceeds for the period of time between your sale and the acquisition of your replacement property or properties. So whom you select as your Intermediary represents an important decision for any Exchanger.
Fyntex is unique amongst national 1031 Intermediaries for how we utilize a State of the Art approach to processing 1031 exchanges, and also how we handle the responsibilities associated with the custody and the disbursement of 1031 funds.
We only utilize restricted '1031 only' deposit accounts at our partner banks who specifically specialize in tax deferred exchange related activities. These are one off accounts which are created for a specific Exchanger and a specific tax identification number.
Further, our exchange documentation requires the written authorization of every Exchanger before any 1031 funds are disbursed.
Lastly, we provide encrypted, 24/7 access to 1031 accounts through our secure Exchanger Portal.
Fyntex has created the processes and the technologies which make your exchange funds not only as safe as possible, but visible 24/7 from any smartphone or other device.
Deposited under your name and tax id number
Our processes qualify for additional FDIC coverage
Interact with your documents or funds at any time
Our processes ensure no wire fraud exposure