He met officials from the sport's governing body late last week and on Monday, Rugby Australia's integrity unit deemed Folau had committed a high-level contract breach, and notified him of its intention to sack him.
"Israel has responded formally today to request a code of conduct hearing which, under the circumstances, was not an unexpected outcome", RA chief executive Raelene Castle said in a statement on Wednesday.
A tribunal is due to decide his fate at a date to be confirmed.
"All professional rugby players in Australia are bound by the code of conduct and there is a process in place for any disciplinary matter".
The 30-year-old devout Christian said on his Instagram account last week that "hell awaits" for "drunks, homosexuals, adulterers, liars, fornicators, thieves, atheists, idolators".
"You can have your beliefs but at the end of the day you're also contracted to Rugby Australia and the NSW Waratahs, who as your employers stand for certain things in society, who want to promote the game a certain way".
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In an interview with British radio station talkSPORT, the Welshman was highly critical of Folau reasserting his homophobic beliefs in social media posts last week.
However, Genia is confident Australia can still be a force at the World Cup in Japan later this year.
Folau was on the radar of half a dozen clubs just 12 months ago when his controversial comments got him into trouble with Rugby Australia for the first time, and The Daily Telegraph reported up to nine clubs could fit him into their salary cap the second time round.
"First and foremost, I live for God now", Folau told The Sydney Morning Herald Sunday. If that's not to continue on playing, so be it.
Moments after Rugby Australia announced they meant to tear up his $4 million contract in the wake of his homophobic Instagram posts, ARL chairman Beattie said Folau did not pass the game's inclusive test.
A hearing committee will determine whether the code has been breached and, if so, impose a penalty that it deems fit, potentially including match suspension from all rugby activities.