How long must FISAP records be retained after submission?

How long must FISAP records be retained after submission?

• A. Three years after the date the FISAP was submitted
• B. Seven years after submission
• C. Two years after submission
• D. Three years after the end of the award year for which the FISAP is submitted

Answer: (D)

Record retention for FISAP submissions is three years after the end of the award year for which the FISAP is submitted. This timing ensures documentation is available for audits, reviews, or inquiries tied to that specific award year. The end of the award year marks the close of the reporting cycle, so starting the three-year clock then covers potential post-year checks. Shorter periods wouldn’t meet audit needs, while longer ones aren’t required for this record.

Record retention for FISAP submissions is three years after the end of the award year for which the FISAP is submitted. This timing ensures documentation is available for audits, reviews, or inquiries tied to that specific award year. The end of the award year marks the close of the reporting cycle, so starting the three-year clock then covers potential post-year checks. Shorter periods wouldn’t meet audit needs, while longer ones aren’t required for this record.