DISPOSAL OF SF 278'S AND CONFIDENTIAL FINANCIAL DISCLOSURE REPORTS

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP07-00568R000301330001-7
• Release Decision: RIFPUB
• Original Classification: K
• Document Page Count: 3
• Document Creation Date: December 22, 2016
• Document Release Date: October 19, 2012
• Sequence Number: 1
• Publication Date: July 23, 1985
• Content Type: MEMO

Declassified and Approved For Release 2012/10/19 :CIA-RDP07-005688000301330001-7
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Declassified and Approved For Release 2012/10/19 :CIA-RDP07-005688000301330001-7
 Declassified and Approved For Release 2012/10/19 :CIA-RDP07-005688000301330001-7
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`'" ?ffice of
Governrrient Ethics
subie~c:Disposal of SF 278's and Confidential Financial Disclosure Reports
From: David H. Martin
Director
TO: Designated Agency Ethics Officials
With very limited exceptions section 205(d) of the Ethics in Government Act, as
amended, (5 U.S.C. App. 4 ~ 205(d)) and 5 C.F.R. 734.603(fxl)) requires that a public
financial disclosure report collected pursuant to the Act shall after 6 years from the
date of receipt be destroyed by the collecting agency unless the report is needed in an
ongoing investigation.l Because the first annual reports were due May 15, 1979, a
date six years ago, many of the reports you now have on fde are subject to this
statutory disposal requirement.
To assist you with this procedure', we offer the following guidance:
1. The statute indicates the 6 year period begins at the date of the report's
receipt. Because many individuals requested and received extensions in 1979, you
should be careful to note each report's receipt date before actually destroying it. You
may wish to consider beginning your destruction process in September when most
reports will be "of age:' If you do decide to wait, under no circumstances should you
allow a report filed more than 6 years ago to be made available to the public. There is.
then no legal authority to release financial information.
2. OPM has established agovernment-wide system of records for both the public
and confidential financial disclosure reports. The system for the confidential reports
indicates that the reports will also be destroyed after 6 years. This 6 year retention
period has not always been the case and was the subject of a system change within the
past two years. If your agency has confidential reports that are 6 or more years old,
you should follow the same destruction procedures used for public reports.
3. Both government-wide systems of records indicate that destruction of these
reports can be by shredding, burning or erasure of discs. All Federal agencies are
required to follow regulations issued by GSA governing the methods of disposing of
records (44 U.S.C. 3314). See 41 C.F.R. 101-11.406-9 for methods of disposal and
check with your administrative offices to see which method -can be most easily used by
you for these reports.
1Reports of individuals nominated by the President but not confirmed by the
Senate and candidates for President and Vice President who were not subsequently
elected are required to be destroyed after a period of a year. The year begins after
the individual either is no longer under consideration by the Senate or is no longer a
candidate for nomination or election to the office of President or Vice President.
CON 732-60-8
March 1985
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You may find that in addition to the disclosure reports themselves, you have kept
other information necessary for the review of the report. Such material might include
outside activity approvals and notes on the business interests of non-public
corporations or other business entities. These materials need not be destroyed if they
are necessary to understand or approve reports which are less than 6 years old or other
elements of the ethics program. .
If you have any questions concerning actual destruction procedures please seek
assistance from your administrative offices. We are not experts on shredding, burning
or erasure of discs and are working through our administrative offices just as we are
asking you to do. If you have questions concerning the actual requirements of the law,
please f eel free to contact us.
Declassified and Approved For Release 2012/10/19 :CIA-RDP07-005688000301330001-7