Is IEC required to be renewed every year?

No, the Importer Exporter Code (IEC) issued by the Directorate General of Foreign Trade (DGFT) does not require annual renewal as it is valid for a lifetime. However, to ensure the code remains active and compliant, businesses must adhere to the DGFT’s annual updation mandate.

As per DGFT Notification No. 58/2015-2020 (dated August 2021), all IEC holders must annually update or confirm their IEC details on the DGFT portal, even if there are no changes to the existing information. This process must be completed between April 1 and June 30 every year.

The steps include:

1. Logging in to the DGFT portal
2. Accessing the “Update IEC” section under “IEC Profile Management”
3. Verifying and confirming the details, or making changes if necessary
4. Submitting using DSC or Aadhaar OTP

This is a compliance requirement, not a renewal. Failure to update can lead to deactivation of the IEC, which may result in delays in customs clearance, export/import restrictions, or compliance penalties.

There is no fee involved for the annual updation. Businesses are strongly advised to mark their calendars and complete this brief online process each year to avoid operational issues in global trade.