The Cognitive Failures Questionnaire (CFQ; Broadbent et al., 1982) is an established and commonly used self-report measure of cognitive errors experienced in daily life, capturing perceived difficulties with forgetfulness, distractibility, and thinking blunders. Despite frequent use in clinical research and established associations with psychological and neuropsychological disorders, the psychometric properties and construct validity of the CFQ remain ambiguous. This study sought to critically assess the factor structure and external validity of the CFQ. A sample of 839 people (62% female) between 16 and 85 years of age (M = 44.12, SD = 19.54) was drawn from the Nathan Kline Institute-Rockland Sample. Previously published CFQ factor structures were compared via confirmatory factor analysis and the unique variance explained by each factor was assessed. Next, we related the CFQ latent variables to neuropsychological tasks and symptom measures of depression, anxiety domains, inattention, hyperactivity, and impulsivity. A single-factor model was best supported by the data, indicating that the CFQ represents a global measure of subjective cognitive difficulties rather than errors in specific domains. Scores on the CFQ did not predict poorer performance on objective neuropsychological tasks but were related to a range of psychological distress symptoms. Subscales derived from previously published factor structures may provide misleading impressions of the construct validity of the CFQ and are not recommended for use in future research or clinical contexts. (PsycInfo Database Record (c) 2022 APA, all rights reserved).