Exchange Manager Pro(SM) Achieves SOC 2 Type II Compliance

In Fall 2022, Exchange Manager Pro^SM completed its’ SOC 2 Type I Report, which reviewed Accruit’s internal processes and procedures in relations to how both the company and its software handles customer data. Successfully achieving SOC 2 Type I established that Accruit’s procedures for handling customers data and information met the industry leading requirements for safeguarding customer data.

Over the past nine months, Johanson Group with the help of Secureframe has been reviewing in detail the information and assurance of the execution of the controls Accruit has in place relevant to security, availability, and processing integrity of The transfer of the relinquished property to the Qualified Intermediary, and the receipt of the replacement property from the Qualified Intermediary is considered an exchange. To be compliant with IRC Section 1031, the transaction must be properly structured, rather than being a sale to one party followed by a purchase from another party. Exchange Manager Pro^SM pertaining to users’ data and the confidentially and privacy of the information processed. By achieving SOC 2 Type II, Johanson Group attests to Accruit’s information security controls meet the leading industry standards for security, confidentiality, availability, privacy, and processing.

Starting out as Accruit’s in-house software for processing Internal Revenue Code Section 1031 states that "no gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held for productive use in a trade or business or for investment." 1031 Exchange s, Exchange Manager Pro^SM, is now a SaaS (Software as a Service) offering utilized by several Qualified Intermediaries to process their Internal Revenue Code Section 1031 states that "no gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held for productive use in a trade or business or for investment." 1031 Exchange s. Through embedded controls, automated workflows and digital document creation and execution, Exchange Manager Pro^SM has revolutionized the way in which Internal Revenue Code Section 1031 states that "no gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held for productive use in a trade or business or for investment." 1031 Exchange s are processed across the industry.

“By developing The transfer of the relinquished property to the Qualified Intermediary, and the receipt of the replacement property from the Qualified Intermediary is considered an exchange. To be compliant with IRC Section 1031, the transaction must be properly structured, rather than being a sale to one party followed by a purchase from another party. Exchange Manager Pro^SM, a cloud-based technology, Accruit is quickly revolutionizing the 1031 exchange marketplace and becoming the industry standard. Utilizing The transfer of the relinquished property to the Qualified Intermediary, and the receipt of the replacement property from the Qualified Intermediary is considered an exchange. To be compliant with IRC Section 1031, the transaction must be properly structured, rather than being a sale to one party followed by a purchase from another party. Exchange Manager Pro^SM for the efficient processing of Internal Revenue Code Section 1031 states that "no gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held for productive use in a trade or business or for investment." 1031 Exchange s is why we dedicated time and effort to ensure our client’s data is managed through tested redundancies, high security and uncompromised procedures,” stated Brent Abrahm, CEO of Accruit.

About Accruit Technologies

Accruit Technologies, a wholly owned subsidiary of Millennium Trust Company, developed The transfer of the relinquished property to the Qualified Intermediary, and the receipt of the replacement property from the Qualified Intermediary is considered an exchange. To be compliant with IRC Section 1031, the transaction must be properly structured, rather than being a sale to one party followed by a purchase from another party. Exchange Manager Pro^SM, a proprietary, cloud-based SaaS application that makes administering 1031 exchanges safe, secure, and simple. The transfer of the relinquished property to the Qualified Intermediary, and the receipt of the replacement property from the Qualified Intermediary is considered an exchange. To be compliant with IRC Section 1031, the transaction must be properly structured, rather than being a sale to one party followed by a purchase from another party. Exchange Manager ProS^M SOC 2 Type I and Type II certified, is designed to automate routine functions of Qualified Intermediaries including online client onboarding, document creation and distribution, and automatic deadline reminders and notifications.