Something called unwind segue is perfect for this. Imagine FooViewController presents BarViewController. You have both in the Storyboard. In the FooViewController.h define a method - (IBAction)onCloseBarController:(UIStoryboardSegue *)segue; and in the FooViewController.m just put in an empty implementation
- (IBAction)onCloseBarController:(UIStoryboardSegue *)segue
{
}
Now, go to your Storyboard and in the BarViewController view find the control that you want to use for triggering the close action. Click on that control, in the right side inspector go to the Triggering Segues (the rightmost option) and drag from the action (in the case of UIBarButtonItem) or Sent Events (in the case of UIButton) to the Exit control at the bottom of the BarViewController in the Storyboard. It then should show you all unwind segues available and just select the onCloseBarController.
Unwind segues are made specifically for this. The best part - you don't have to manually dismiss the controller, the unwind segue does that automatically. So you can just use the method onCloseBarController as a notification method of the dismissal.
Pretty good tutorial on unwind segues: http://pragmaticstudio.com/blog/2013/2/5/unwind-segues