15 CFR § 231.205 - Retention of records.

---
identifier: "/us/cfr/t15/s231.205"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "15 CFR § 231.205 - Retention of records."
title_number: 15
title_name: "Commerce and Foreign Trade"
section_number: "231.205"
section_name: "Retention of records."
chapter_name: "NATIONAL INSTITUTE OF STANDARDS AND TECHNOLOGY, DEPARTMENT OF COMMERCE"
subchapter_number: "C"
subchapter_name: "CHIPS PROGRAM"
part_number: "231"
part_name: "CLAWBACKS OF CHIPS FUNDING"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "15 U.S.C. 4651,"
regulatory_source: "88 FR 61614, Sept. 25, 2023, unless otherwise noted."
cfr_part: "231"
---


# 231.205 Retention of records.

(a) During the 10-year period beginning on the date of the Federal financial assistance award under 15 U.S.C. 4652 and for a period of seven years following any significant transaction involving the material expansion of semiconductor manufacturing capacity in a foreign country of concern, a covered entity or member of the affiliated group planning or engaging in any such significant transaction involving the material expansion of semiconductor manufacturing capacity in a foreign country of concern shall maintain records related to the significant transaction in a manner consistent with the recordkeeping practices used in their ordinary course of business for such transactions.

(b) A covered entity that is notified that a transaction is being reviewed by the Secretary shall immediately take steps to retain all records relating to such transaction, including if those records are maintained by a member of the affiliated group or by related entities.