Accruit is formed in March by industry pioneers Brent Abrahm and Todd Fisher. In the beginning, the company operated as an Application Service Provider (ASP) and qualified intermediary (QI), for hosted software solutions based on like-kind exchanges. The original company was “e-LKE,” and early accomplishments include the creation of one of the country’s first high-volume repetitive personal property 1031 like-kind exchange programs.
In October, the company completes the first 1031 exchange completely via the Internet.
British Petroleum, (BP) becomes the Company's first Program Client, utilizing an online workflow for oil & gas production equipment. Fisher & Abrahm file for initial patent with US Patent & Trademark Office for this process.
KineticWorks, the sole development firm used by Accruit, is acquired to continue the expansion of developing software for the like-kind exchange process.
Accruit launches the development of Exchange Manager™, the industry's first integrated LKE depreciation tracking system and qualified intermediary platform.
Wagner Equipment Company makes sizeable investment into Accruit to support expansion in the heavy equipment industry.
Deloitte and Accruit sign a marketing alliance agreement offering tax advisory and 1031 exchange services nationwide.
Accruit signs its 100th Program Client, managing over $6B in LKE proceeds and over 95,000 assets.
Accruit and Ritchie Bros. Auctioneers form strategic marketing relationship and Peter Blake, CEO of Ritchie Bros. joins the Accruit Board of Directors. Joseph Lane, former president of IBM Global Finance, joins Accruit's Board of Directors.
President & CEO Brent Abrahm is elected to the Federation of Exchange Accommodators Board of Directors.
Accruit partners with Inter-Atlantic Group, a private equity firm from New York, to increase investments in Accruit's 1031-LKE software technology.
Accruit awarded US Patent: Apparatus, systems and methods for transacting and managing like-kind exchanges U.S. Patent No. 7,379,910,
Associated Equipment Distributors recognizes Accruit for the 6th consecutive year as their exclusive Preferred Provider of 1031 Services.
In 2010 Accruit announces an unprecedented new joint business relationship with tax advisory leader PricewaterhouseCoopers. PwC and Accruit have more than 20 years of combined experience providing like kind exchange program services. The joint business relationship enables PwC and Accruit to work together (where permitted by professional and regulatory requirements) to deliver a comprehensive LKE program solution that leverages PwC’s experience in providing LKE tax advisory services and Accruit’s knowledge in delivering LKE QI services.
Brent Abrahm is elected as the President of the Federation of Exchange Accommodators.
On September 30th, Accruit completes the stock acquisition of North Star A 1031 exchange conducted under the safe harbor 1991 Treasury Regulations wherein the replacement property is received up to 180 days after the disposition of the relinquished property. Typically what people mean when referring to a 1031 exchange, Starker exchange, like-kind exchange, delayed exchange, etc. Deferred Exchange (NSDE), led by Martin Edwards, headquartered in Chicago, Illinois, from BMO Financial Corporation. Since 1997, North Star A 1031 exchange conducted under the safe harbor 1991 Treasury Regulations wherein the replacement property is received up to 180 days after the disposition of the relinquished property. Typically what people mean when referring to a 1031 exchange, Starker exchange, like-kind exchange, delayed exchange, etc. Deferred Exchange LLC has been a national provider of QI and Exchange Accommodation Titleholder (EAT) services for complex exchanges of both real and personal property, specializing in reverse, build-to-suit and improvement exchanges. Included in this acquisition is NSDE's Independent Director/Independent Manager Services.
Accruit signs joint marketing relationship with EnergyNet, an online Oil & Gas Marketplace, to provide 1031 exchange services.
The Federation of Exchange Accommodators appoints another Accruit executive to the Board of Directors.
PwC & Accruit's joint business relationship secures 1031 business with top 10 worldwide bank, H&E Equipment, John Deere Financial, and TCF.
Accruit's CEO, Brent Abrahm, co-Chairs the Federation of Exchange Accommodators' Government Affairs Committee amidst tax reform efforts limiting the use of 1031s.
Accruit and PwC are named as the AED preferred provider for delivering a comprehensive 1031 tax advisory solution .
The Tax Cuts and Jobs Act of 2017 repeals personal and intangible property from eligibility for 1031 exchange, leaving only real property as eligible for an exchange.
Accruit invests significantly in technology to support a scaled service offering of real property exchanges.
Accruit acquires Montana-based qualified intermediary, American Equity Exchange, founded in 1991 by 1031 veteran, Max A. Hansen. Max joins the Accruit team as Managing Director and continues to expand the business across the Rocky Mountain region.
Accruit launches the industry's first fully technology based managed services, enabling other 1031 exchange providers to leverage the power of Exchange Manager™, Accruit's patented exchange workflow software.
Accruit restructures company by redeeming a majority of shares from private investors.
Steven Holtkamp joins as Executive Vice President and Chief Financial Officer.
Accruit continues to protect the 1031 exchange industry through education and by playing an active role with the Federation of Exchange Accommodators, as members of the Board and Government Affairs Committee.