I am able to right-click and drag from my custom UIView subclass file to the storyboard elements to connect them, but unable to do so the other way around. I believe this is
Create an outlet like this in Objective-C
@property (nonatomic, weak) IBOutlet UIView *view;
or as in swift 3
@IBOutlet weak var instruction: UILabel?
and then connect it as given in this image.
Sometimes the normal way of connecting action and outlet doesn't work due to subclassing. This way comes handy for such situations.