Every step has a named durable workflow running 24/7. The 45- and 180-day clocks never sleep, Neela guides your clients through every decision, and no fund moves without multi-party fiduciary approval. Automation here means deterministic and audited, not "a chatbot hopes for the best."
synthetic demo data — not a real exchange
From the moment your client signs the QI agreement to the IRS Form 8824, every stage has a named durable workflow and a Neela guidance layer — with the human fiduciary checkpoint sitting where it belongs: with your firm, the QI of record.
The 45-day identification clock starts the moment the relinquished property transfers. Neela presents the three IRS identification rules (3-property, 200%, 95%), the client confirms their rule, and the ID watcher begins escalating at 10 days, 3 days, and on the close day.
The exchange opens the moment proceeds land in the qualified escrow account. Neela extracts sale figures from the HUD-1 / closing disclosure via document capture, confirms boot calculations, and seeds downstream hubs with the verified numbers — no re-keying.
Funds sit in an individually segregated, state-bonded qualified escrow account under the QI of record. The QI and the client both see the balance in real time. The 180-day close guard is now running — it will escalate 30, 14, and 3 days before the deadline. Movement instructions require multi-party digital approval.
The identified property goes under contract. Neela coordinates with title, extracts the purchase agreement and HUD-1, and generates the exchange-proceeds wire instructions for multi-party approval. For improvement / DST exchanges, the EAT workflow or DST subscription runs here.
Remaining proceeds (boot) are disbursed to the client after exchange completion. The workflow calculates realized vs deferred gain, generates a disbursement statement, and issues final confirmations. Every cent is accounted for in the audit log.
At exchange completion, the platform generates a pre-filled IRS Form 8824 (Like-Kind Exchanges) from the verified data: relinquished FMV, adjusted basis, boot received, deferred gain, replacement property info. It's ready for the client's CPA — with the full supporting audit trail attached.
These aren't calendar reminders. They're durable workflows that resume exactly where they left off, even across restarts, deploys, or network failures. Anchored to the statute, not a human's inbox.
From the day the relinquished property closes, the exchanger has exactly 45 calendar days to identify replacement property in writing. No extensions, no exceptions (other than a federally declared disaster, and even then the platform auto-applies the extension). The ID watcher escalates to Neela, to email, and to the client's CPA if configured, at 10 days, 3 days, and day 45.
Replacement property must close within 180 calendar days of the relinquished property transfer — or by the due date of the exchanger's tax return (including extensions), whichever is earlier. The close guard escalates at 30 days, 14 days, and 3 days. If the filing deadline comes first, the platform flags the extension strategy.
Every automation has a name, a paper trail, and a failure-handling path. These aren't cron jobs. They're durable long-running workflows that survive restarts and guarantee at-least-once delivery of every critical escalation.
Monitors identification deadline; escalates at 10d / 3d / 0d with Neela + email alerts.
45-day ID watcherMonitors exchange period; escalates at 30d / 14d / 3d and flags tax-return-deadline conflicts.
180-day deadline guardRoutes QI agreement, exchange instructions, and closing docs through DocuSign with audit log on every event.
e-sign orchestrationEvery exchanger screened via Persona KYC and OFAC SDN list before the QI agreement is executed.
OFAC SDN screening · KYC orchestrationReal-time Plaid integration monitors qualified escrow balance; flags discrepancies for fiduciary review.
escrow funds receivedAuto-fills Like-Kind Exchange form from verified exchange data at close — ready for CPA attachment.
Form 8824 generationEvery wire instruction needs two authorized officers, proposer distinct from approver. The exchanger requests; the bank executes.
escrow wire releaseManages QEAA formation, 5-business-day window, EAT title parking, and 180-day clock for Rev. Proc. 2000-37.
EAT entity formation · EAT transfer-outFor build-to-suit exchanges: tracks draw schedule against exchange funds while EAT holds title.
EAT parking arrangement setupAutomated outreach when outstanding docs (purchase agreement, deed, identification letter) are overdue.
document collection remindersEvery state change is forwarded to an append-only log: timestamped, exportable.
final audit archiveSuspicious-activity scoring and SAR-support tooling are on the roadmap — not yet built. The licensed QI files SARs and owns the BSA/AML program.
compliance risk checks — planned24+ named workflows back the platform. Operational automation, AI, infrastructure, and security all run as durable workflows, not ad-hoc scripts.
Neela is the AI exchange guide your clients get — always on, always in context. Her authority is deliberate and bounded: she guides, informs, and extracts. The licensed QI holds funds. Multi-party approval moves them.
Neela guides and drafts. She never moves, holds, or releases funds — that takes multi-party approval.
demo exchange — Matt Belcher / 456 Sunset Blvd — synthetic
The automation handles repetitive, deadline-driven work. The human fiduciary — your firm, the licensed QI — sits at every point where money moves. Exactly the design the IRS intended for a Qualified Intermediary.
Client proceeds sit in an individually segregated, state-bonded qualified escrow account under the QI of record — not a commingled pool. No exchanger's funds are mixed with another's, and the exchanger has real-time read access to their balance at all times.
No automated workflow, no Neela instance, and no Open1031 employee can move your funds. You request or acknowledge the release; two authorized officers, proposer distinct from approver, authorize the transfer; the bank executes, and the platform transmits and records. You never gain a right to receive or use the funds before the exchange ends, which is what the constructive-receipt rule requires.
QIs operating on Open1031 hold the required bonds under state statutes including CA SB 1007. Per-state registration and bond status is published on the Trust & compliance page with honest status pills — no overclaiming states a firm isn't yet registered in.
Open1031 does not provide investment advice and earns no commission on replacement property. DST and 721 UPREIT securities transactions are facilitated through licensed third-party broker-dealers/advisors — the flat platform fee does not change with the client's election. Fee and referral disclosures are on the compliance page.
Every state change, every identification, document upload, approval, escalation, and fund instruction, writes to an append-only log. The client's CPA gets an export. Your compliance team gets an export. The IRS gets Form 8824 with the full supporting trail attached.
This is the "paper trail" that makes a QI legitimate — except it's digital, cryptographically verifiable, and generated automatically, not assembled from email threads.
all names, amounts, dates — synthetic demo data, not a real exchange
Most firms refuse reverse exchanges outright — or charge a premium and hand them to an attorney. Open1031 automates the full QEAA safe harbor for your practice: EAT formation, 5-business-day window, 180-day parking clock, and all the durable workflow machinery behind it.
Exchange Accommodation Titleholder (EAT / SPE LLC) formed. 5-business-day QEAA window opens.
Replacement property deeded to the EAT while the relinquished sale is arranged. 180-day clock starts.
Proceeds move to qualified escrow; the platform sequences concurrent close and QEAA unwinding.
Replacement property deeded from EAT to the exchanger within 180 days. Form 8824 and full audit trail delivered.
Put the machine to work for your practice: Neela is in context from day one, the 45-day watcher starts at the transfer of the relinquished property, and the client's CPA gets Form 8824 at the end — automatically.
