Room temperature 1.3 μm emitting InAs quantum dots (QDs) covered by an In0.4Ga0.6As/GaAs strain reducing layer (SRL) have been fabricated by solid source molecular beam epitaxy (SSMBE) using the Stranski–Krastanov growth mode. The sample used has been investigated by temperature and excitation power dependent photoluminescence (PL), photoluminescence excitation (PLE), and time resolved photoluminescence (TRPL) experiments. Three emission peaks are apparent in the low temperature PL spectrum. We have found, through PLE measurement, a single quantum dot ground state and the corresponding first excited state with relatively large energy spacing. This attribute has been confirmed by TRPL measurements which allow comparison of the dynamics of the ground state with that of the excited states. Optical transitions related to the InGaAs quantum well have been also identified. Over the whole temperature range, the PL intensity is found to exhibit an anomalous increase with increasing temperatures up to 100 K and then followed by a drop by three orders of magnitude. Carrier’s activation energy out of the quantum dots is found to be close to the energy difference between each two subsequent transition energies.