What is the IEC Code Renewal Period?

The Importer Exporter Code (IEC), issued by the Directorate General of Foreign Trade (DGFT), is a mandatory registration for anyone wishing to import or export goods and services from India. While earlier the IEC was issued for a lifetime with no requirement for periodic updates, this changed with DGFT’s amendment in 2021.

As per the new norms, IEC holders must update or renew their IEC code annually—regardless of whether there are changes to the details or not. This renewal or confirmation is to be done between April 1st and June 30th every year on the DGFT portal.

Failure to comply with this requirement can lead to the deactivation of the IEC code, which means you won’t be able to proceed with import-export activities until it’s reactivated. Additionally, customs clearance, bank transactions related to foreign trade, and license issuance through DGFT may all be affected.

The update process is entirely online and involves logging into the DGFT portal with your credentials, selecting the ‘Update IEC’ option, and confirming or modifying the required details. There is no government fee for IEC renewal itself, but if updates are required using DSC or Aadhaar-based authentication, minimal third-party costs (like digital signature expenses) might be incurred.

Hence, it is crucial for all businesses engaged in foreign trade to mark their calendars and ensure compliance before June 30 each year to maintain a valid IEC status and avoid disruptions.