Abstract: An intelligent fastener having a head and an externally threaded shank for threaded engagement with a structural member. The head has a recess formed in the top surface for mounting an RFID tag with a memory containing information specific to the fastener—such as fastener identification, specified torque value and other information—an antenna for enabling bidirectional communication with an RFID tag reader, and a torque value sensor for determining the torque applied to the fastener by a fastener installation tool. Once installed, the existing torque on a collection of fasteners is measured by using an RFID tag reader to scan the information stored in the memory of each fastener.