• Exchange Agreement. • Exchange Closing Instructions.Providing Georgia investors with 1031 Exchange replacement properties guidance, FAQ, rules and 1031 Exchange listings. What are the time constraints for completing a 1031 exchange in Georgia? FIND A QUALIFIED INTERMEDIARY (QI) Choose a QI before you close escrow. After completing a 1031 exchange, you must report the transaction to the IRS using Form 8824 to maintain the transaction's taxdeferred status. How do I report a 1031 exchange to the IRS? IRS Form 8824 is a 2-page form that must be submitted in the year that you sold your old property. 1031 Exchange Benefits. Property held for productive use in a trade or business or for investment qualifies for a 1031 Exchange.