I have the GD&T license that allows for the creation in STEP files.
I did figure out how to output every part as an individual step file, procedures as follows:
1. Go to Tools, Options, General Section, Compatibility Section, then click on STEP Tab.
2. Export Section in Step Tab, Select 214 iso in the Application Protocol (AP)
3. Select One STEP file and External references to STEP in Assemblies Section of Export.
4. Click OK and Save the product as a STEP file and there will be STEP file for every part in the tool.
I still have no idea how to do this for IGES.