On Sunday, the Iranian outfit lost to Argentina 4-2 at the Arena Amadeu Teixeira in Manus, Brazil.
Mehdi Javid netted a brace for Iran and Alamiro Vaporaki (two goals), Luis Gonzalez and Planas scored goals for Argentina.
Iran had already defeated Belgium (4-2), the U.S. (8-0), Uruguay (3-1) and Guatemala (4-2) in the competition.
The Asian powerhouse lost to hosts Brazil 4-1 in the semi-final round.
Six-time champion Brazil will play Russia in the final game on Monday.
The Grand Prix de Futsal is an international futsal competition of the same kind as the FIFA Futsal World Cup but with invited nations and held annually in Brazil. It was first held in 2005.