IEC Modification
All you need to know
If you accidentally entered incorrect information when applying for a IEC code, an IEC Modification will be required. IE Code . It may be necessary to change details such as email ID, phone number, address of the office, etc.
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IEC Modification
What can I do to modify the details in IEC?
The annual renewal of Importer Exporter code (IEC), is not only a requirement for regulatory purposes, but also enables you to update any previously submitted data on the Directorate General of Foreign Trade portal. You can change key aspects of your IEC during the renewal process.
- Changes in the registered address:Â Additions or deletions of registerd addresses
- Branch Addresses:Â Additions or deletions of branch addresses.
- Contact information:Â Updates of mobile numbers and emails IDs.
- Account details:Â Changes to bank account numbers, and financial information.
- Directors/Partners:Â Addition/deletion of directors/partners in the business
- Changes to the nature of business:Â A change in the type of business conducted.
The IEC code is updated regularly to reflect the most accurate and current state of business. This is essential for compliance and the smooth operation of import-export operations.
The Importance of IEC Modification
After 2024, the need to update the Importer Exporter Code has increased. Before 2024, an IEC issued remained valid for the entire life of the business without any need to update it annually. This practice led to problems as the IEC certificate was outdated when there were any changes in the company. Updates to the IEC are important for the following reasons:
- Regulatory Compliance : Businesses are required to ensure their IEC details comply with the legal and regulatory requirements of the DGFT.
- Smooth Business Operation: Accurate IEC detail helps avoid delays in customs clearing and other export-import processes.
- Update Business Information: Businesses can undergo changes, such as address, ownership or bank details. This ensures that all stakeholders are provided with the most accurate information.
- Facilitation Trade: A updated IEC allows for smoother transactions between foreign buyers and sellers, since the information is consistent across all legal documents.
Common Reasons to Modify IEC:
- Change of business address
- Changes in ownership or business structure
- Updating bank account details
- Change in contact details
- Add or remove a director or partner
Documents for IEC Modification
Quick Checklist
A recent photo and clear image of the person applying for IEC modification.
Copy of Partnership deed in case of Partnership
Self Attested PAN Card for the Entity: A card with the Permanent Account Number (PAN), which is self-attested.
Proof Address for Entity: These documents can include the latest Electricity Bill, Latest Mobile Bill and Latest Landline Bill. These documents must reflect the current location of the entity.
Cancelled Cheque or Bank Certificate Pre-printed: An canceled cheque or a bank certificate that verifies the applicant’s banking details.
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