Phone call and text spoofing schemes are on the rise, and criminals are now pretending to be bank employees. As a reminder, Northern Bank will not call you and ask for personal information like PINs, passwords, social security numbers, or account numbers. Do not click on any links that you're unfamiliar with and be wary of texts, calls, or emails that ask you to log into online banking or send money with payment apps. If you receive a call or text matching this description, or alerts of suspicious activity on your account, please contact us immediately at 1-800-273-6908 Option "0".

Due to construction, the drive-up window and drive-up ATM will not be available at our Billerica branch. The branch will remain open during regular business hours, but the drive-up lanes will remain closed during construction.

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Northern 1031 Exchange: Related Party Exchanges

 
This informative webinar will answer key questions about how to successfully execute a 1031 Exchange with a related party.

In this session, we will cover:
  • Discover the truth about related party exchanges - Learn why these transactions are actually permitted under tax code, despite common misconceptions.
  • Navigate the critical two-year holding period rule - Understand when this requirement applies and the costly consequences of early disposition.
  • Master the "related party" definition beyond family - Explore how business entities, fiduciary relationships, and affiliated businesses impact your exchange strategy.
  • Unlock different scenarios, different opportunities - Learn why selling to versus buying from related parties follows entirely different compliance paths.
  • Avoid the basis-shifting traps - Understand the real-world examples of what can disqualify your exchange and trigger immediate taxation.
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About Northern Bank

Northern Bank is a full-service bank dedicated to providing practical, common sense financial solutions to help our customers live their lives and grow their businesses. From deposit products to loans to payment and collections services, we work hands-on with our entrepreneurial customers, both locally and across the country, to provide the financial support they need to realize their personal and business goals. Founded in 1960, Northern Bank has assets of $3.17 billion with 12 locations serving communities throughout Middlesex County. Northern Bank is a Member of the FDIC, and an Equal Housing Lender.

 

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We're here to help!

Contact us now to learn more about how Northern Bank can help you realize your goals and dreams.