How to Modify or Update Your IEC (Import Export Code) Registration Details

The Import Export Code (IEC) is essential for any business in India engaged in importing or exporting goods and services. Issued by the Directorate General of Foreign Trade (DGFT), IEC registration is a mandatory license for international business transactions. Occasionally, businesses may need to update or modify their IEC registration details due to changes in address, contact information, business structure, or other vital elements. Here’s a guide to help you understand the process for effectively updating or modifying your IEC registration details.

Why Update Your IEC Registration Details?

Keeping your IEC registration details current is crucial for several reasons:

• Compliance: Incorrect information can lead to non-compliance with government regulations.
• Seamless Transactions: Updated information ensures smooth customs clearance and compliance with foreign trade laws.
• Avoid Penalties: Not updating IEC details promptly may attract penalties or create complications with the DGFT.

When Should You Update Your IEC Registration?

You may need to modify your IEC registration details in the following situations:

1. Change of Address: When your business address has changed.
2. Change in Business Name: If there’s a rebranding or alteration in your registered business name.
3. Updating Contact Details: To reflect changes in phone numbers, email addresses, or other contact information.
4. Change in Business Structure: If you change the structure of your business, such as converting a sole proprietorship into a private limited company.
5. Modifying Bank Account Details: If you change your business bank account, which is used for international transactions.
6. Changes in Directors or Partners: When there is an addition or removal of directors or partners in the business.

Steps to Update Your IEC Registration Details

Updating or modifying your IEC registration is a straightforward online process. Here’s a step-by-step guide:

Step 1: Visit the DGFT Portal

1. Go to the official DGFT (Directorate General of Foreign Trade) portal: https://www.dgft.gov.in/.
2. Log in using your credentials, including the registered User ID and Password. If needed, you may also use your Digital Signature Certificate (DSC) or Aadhaar-based OTP.

Step 2: Access the IEC Dashboard

1. Once logged in, navigate to the IEC dashboard.
2. Here, select the option to Modify/Update IEC.

Step 3: Edit the Necessary Fields

1. In the modification section, update the details that need to be changed, such as business address, contact information, business structure, etc.
2. Upload the required documents to support the changes. These may include:

• Updated address proof (lease agreement, utility bills, etc.)
• Bank certificate or cancelled cheque if updating bank details
• Director/partner details in case of a change in business structure or composition
• Relevant board resolution or partnership deed

Step 4: Pay the Modification Fee

1. Once the details are updated, pay the modification fee as required by the DGFT. The fee structure may vary, so it’s advisable to check the latest charges on the DGFT portal.
2. Payments can be made online using net banking, credit card, or debit card options available on the portal.

Step 5: Submit the Application

1. After entering the updated information and paying the fee, submit your application.
2. You will receive an application number for tracking purposes. The DGFT will review the changes and, upon verification, approve them.

Step 6: Receive the Updated IEC Certificate

Once approved, the updated IEC certificate will be available in your DGFT account dashboard. You can download and print it for your records.

Documents Required for IEC Modification

The required documents may vary based on the type of modification but generally include:

• Updated Address Proof: Lease agreement, utility bills, or property ownership proof for address updates.
• Bank Account Details: A cancelled cheque or bank certificate if updating bank account information.
• Business Structure Documents: Board resolution, partnership deed, or memorandum of association (MOA) if there’s a change in business structure.
• Director/Partner Identity Proof: Updated ID proof for any changes in directors or partners.

Important Points to Remember

• Annual IEC Update: As per the latest DGFT guidelines, IEC holders must update their IEC details on the DGFT portal annually between April and June, even if no changes have been made. Failure to do so may render the IEC inactive.
• Accurate Documentation: Ensure that the supporting documents you upload are precise and straightforward to avoid delays in the modification process.
• Monitor Approval Status: On the DGFT portal, use your application number to track the status of your modification application.

Conclusion

Updating your IEC registration details is crucial for business compliance and smooth international transactions. By following the steps above, you can efficiently handle any modifications to your IEC information through the DGFT portal. Ensure timely updates to avoid disruptions in your import-export operations and stay compliant with DGFT regulations.