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Indian Overseas Bank

Research notes as of 09 Oct 2026, not legal or tax advice. VERIFIED means we read the primary source, REPORTED means secondary sources only, and UNCERTAIN means the law or practice is unclear. Ask your bank or a CA before acting on uncertain points.

How to file with Indian Overseas Bank

From the bank's published export policy and other sources, checked 2026-10-04. Banks are still settling their procedures, so confirm with your branch.

How to submit

  • Branch, then CFEPC (Centralised Foreign Exchange Processing Cell), Central Office verified

    SOP: branch handles customer interaction and scrutiny and forwards to CFEPC. Policy: services EDF goes to 'the designated Authorised Dealer (AD) Bank'.

    Source

Documents the bank may ask for

  • Export invoice(s) with details of services and applicable SAC code verified
  • Invoice-wise annexure reconciling invoices to total when a consolidated EDF is filed verified
  • FIRC / bank credit advice or other evidence of receipt, where already realised verified
  • Service agreement / contract / PO only where considered necessary (risk-based) verified
  • Third-party remitter declared in EDF verified
IEC needed?
Not confirmed. Ask your bank
Timing
Within 30 days from end of invoice month; extension on a reasoned request. EDPMS entry within 5 working days. 3:00 PM cut-off, else T+1. (Policy para (vi) says 'fifteen months' realisation, which conflicts with its own para A.2 of nine months; treat nine months as correct.)
Charges
As per Schedule of Charges; no penal charges for regulatory delay. Services-EDF fee not found.
FIRA / FIRC
Not quantified in documents reviewed.
Declaring the purpose code
SOP: the customer must 'select the appropriate purpose code'. Inward flow is customer intimation, then disposal instruction, Purpose Declaration, invoice/contract, FEMA declaration and KYC. The cross-border framework lists services codes (e.g. P0802/P0806/P1006) needing an invoice plus agreement. Inwards for individual customers are processed by Treasury (Foreign), Central Office.

Recommendations

  • Put the SAC code on every invoice. IOB's EDF documents rule requires it.
  • For a consolidated monthly EDF, attach an invoice-wise annexure reconciling to the total (easylancing's Part 2B schedule fits this).
  • Attach FIRC/credit advices for invoices already paid.
  • Ask your home branch whether it is an AD (forex) branch; if not, ask which mapped AD/forex branch handles your EDF and inward remittances, and get the email address in writing.
  • For PA/platform payouts that arrive as domestic INR credits (Wise/Skydo/Razorpay/Payoneer/PayPal), keep the provider's FIRA/e-FIRC and ask the bank how it wants them mapped to the EDF; no bank in this group publishes a rule for this.

The bank's export policy (FEMA 23(R)/2026, Reg. 19 disclosure)

Sources