The move was designed to prevent other clubs from approaching players and disrupting plans after the season was already underway.
However, the EFL said representatives from the 48 clubs in the third and fourth tier of English football held discussions in recent months and backed a different approach, agreeing to move the deadline to the end of August for all signings.
"EFL clubs have been given the opportunity to determine the direction of travel, with our priority ensuring that everyone has a clear understanding of the arrangements as soon as possible so as to ensure plans can be put in place for next season," EFL chief executive Shaun Harvey said in a statement.
The clubs will be asked to formally vote on a finalised proposal for a longer window at the Extraordinary General Meeting next month.
