In honor of Memorial Day, Northern bank branches and the Contact Center will be closed on Monday, May 25. As always, mobile banking, online banking and our ATM network are available to you 24/7.

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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Partner Site Disclaimer

By accessing the noted link you will be leaving our website and entering a partner site which is hosted by another party. Please be advised that you will no longer be subject to, or under the protection of, the privacy and security policies of our website. We encourage you to read and evaluate the privacy and security policies of the site which you are entering, which may be different than those of ours. 

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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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Be Aware of Tax Scams

As tax season approaches, it’s an important time to get your finances in order—but it’s also a peak period for cybercriminal activity. Scammers frequently exploit this time of year by sending fraudulent emails or making phone calls that appear to come from legitimate tax-related organizations.

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

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