Annual updation of importer exporter code 2022

Update IEC code every year, else face de- activation i.e. Annual KYC of IEC Code

due date for IEC code update 2023

Is it mandatory to update an Importer Exporter Code (IEC) annually?

  • Yes, vide notification 58/2015-20 dated 12th February 2021, every IEC holder needs to update IEC code every year. 

What if there are no changes in IEC particulars?

  • Even though there are no change in IEC particulars same has to confirm annually online. I.e. the notification 58/2015-20 provide for annual KYC of IEC Code. 

Is there any due date prescribed for an IEC code update and is there any fees for IEC Kyc?

  • IEC holders has to update IEC code annually between the period of April-June. Accordingly due date for IEC update for the FY 2021-22 is 30th June 2022. Any IEC not updated before the due date will be de-activated. No fees will be charged for IEC updated before 30th June 2022. 

What will happen if an IEC not updated within due time?

  • An IEC code will be deactivated if not updated before prescribed time limit. However, IEC so de-activated may be activated upon successful updation. This would however be without prejudice to any other action taken for violation of any other provisions of the Foreign Trade Policy.

Upon successful updation the given IEC shall be activated again and transmitted accordingly to Customs system with the updated status.

For the FY 2022-23 last date to update IEC is 30th June 2023.

Access here notification 58/2015-20 dated 12th February 2021 for IEC update- Download here

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