Records Retention Program, Inspector General Records

N1-82-00-01 Inspector General Records Approved by NARA: 04-25-2001
Inspector General Records
Records Retention Schedules

This schedule covers Inspector general records, internal and external audits of Board activities [audits of Reserve Bank functions are scheduled with other supervisory records], and Board administrative litigation files. The dispositions cover records in all media.

1. Inspector General Investigative Case Files.
Case files are developed by the Board's Office of Inspector General during individual investigations of officers or employees of the Board or other persons involved in the Board's programs or operations who are or have been under investigation in order to determine whether such officers, employees or other persons have been or are engaging in fraud and abuse with respect to the Board's programs or operations. Each file includes investigative reports and related documents generated during the course of or subsequent to the investigation. Each file incorporates information in electronic and hard copy case tracking systems, databases containing investigatory information, "hotline" telephone logs, and investigator work papers and memoranda and letter referrals to management and others. These files do not include investigations related to enforcement activities of the Board over supervised financial institutions; these enforcement files are scheduled with other supervisory records.

Cut off files annually. Destroy 10 years after cutoff.

2. Files not related to specific investigations.
Files containing anonymous or vague allegations not warranting an investigation and support files providing general information that may prove useful in Inspector General investigations.

Cut off files annually. Destroy 5 years after cutoff.

3. Audit Workpaper Files.
Case files of audits of Board programs, operations, and procedures, and audits of contractors, containing audit reports, correspondence, memoranda, and supporting working papers.

Cut off files annually. Destroy 8 years after cutoff.

4. Litigation Case Files (Administrative).
Case files related to Board internal administrative matters, containing correspondence, internal memoranda, reports, affidavits, depositions, attorney notes, exhibits, transcripts, briefs, motions, and administrative and court opinions.

Cut off files annually. Destroy 20 years after cutoff.

5. Electronic copies of records that are created on electronic mail and word processing systems and used solely to generate a recordkeeping copy of the records covered by the other items in this schedule. These files may be maintained by individuals in personal files, personal electronic mail directories, or other personal directories on hard disk or network drives, and copies on shared network drives. This item also covers electronic copies of records created on electronic mail and word processing systems that are maintained to update, revise, or disseminate records.

Destroy or delete after the recordkeeping copy has been produced or after dissemination, revision, or updating is completed.

Back to Top
Last Update: February 13, 2012