The Pre-requisites needed for IEC modification include PAN of an individual/ business for which IEC was issued, Valid e-mail id. & mobile no.
Under the normal circumstances, an individual is required to get IEC modification online once a year as per the import-export laws.
In case of any error in IEC is detected or a change is required in the Import-Export code, IEC modification is to be done immediately.
In case, the address of a business firm is changed, it should be immediately updated through the IEC modification online process.
If there is a change in the name of the business firm or the company name, the same should be updated with IEC modification.
If there is an addition/Deletion of a PAN in a business firm or addition/Deletion of a Partner/Director in a company, it should be updated.